A Positive Opening Will Expect for the Day...

EQUITY BULLETIN FOR 11 AUGUST 2023

Nifty Futures

Nifty futures unable to hold positive momentum and dragged on the weekly expiry. Now Nifty has immediate support around 19500 and near resistance around 19650 levels. Break above 19650 will see an upside move till 19720-19800 levels. Traders can enter above 19650 for the upside target of 19720-19800.

On the other side, Nifty has support around 19500 levels, break and close below 19500 will test 19400 levels.

Trading strategy

Traders can Buy Nifty above 19650 with a stop loss below 19580 levels for the upside movement till 19720-19760 levels.

Bank Nifty Futures

Bank Nifty Future witnessed a bearish move but managed to closed above the crucial level in the last trading session. Bank Nifty has near resistance around 44900, breaks and an hourly close above 44900 will see an upside movement till the 45100-45200 levels. Fresh positive movement will expect on close above 45200 levels.

On the lower side, Bank Nifty has a near support around 44500, break and sustain below 44500 will test 44300 level.

Trading Strategy

Traders can Buy Banknifty above 44900 with a stop loss below 44700 for the upside movement till 45050—45200 levels in an intraday trading session.

Stock Pick of the day

LIC

Buy LIC above 650. Stop loss below 635. Target-670-680.

*T&C Apply…