A Gap-Up Opening Will Expect, Keep IT Stocks on Radar...

EQUITY BULLETIN FOR 09 JANUARY 2024

Nifty Futures

Nifty Futures slipped sharply and closed around the major support level in the last trading session. We will expect a sharp bounce in upcoming sessions.

Now, Nifty Futures has near support around 21500 and upside near hurdle around 21700 levels. Break and sustain above 21700 will take it towards 21780-21860 levels and further upside move will expect on close above 21800 levels in the upcoming trading sessions.

On the other side, Nifty has major support around 21500 levels, break and sustain below 21500 will expect a downside fall till 21430-21400 levels.

Trading strategy

 Traders can Buy Nifty Future on dip above 21650 with a stop loss below 21550 levels for the upside movement till 21750— 21800 levels.

Bank Nifty Futures

Bank Nifty crashed drastically and closed on a negative note in the last trading session. Bank Nifty has next support around 47500 and near resistance around 48100, breaks and sustains above 48100 will see an upside movement till 48300-48500 levels.

On the lower side, Bank Nifty has a next support around 47500, a break and sustain below 47500 will see a fresh downfall fall till 47000 levels.

Trading Strategy

Traders can Buy Bank Nifty above 48100 with a stop loss below 48800 for the upside movement till 48450—48700 levels in an intraday trading session.

Stock Pick of the day

BSOFT (09/01/2024)

Buy Bsoft Future above 720 for the upside move till 735 and then to 745 levels in the coming days. Stop loss below 708.

*T&C Apply…