A Positive Opening will Expect for the Day...

EQUITY BULLETIN FOR 23 AUGUST 2023

Nifty Futures

Nifty Futures unable to breach its resistance level and closed on a flat note in the last trading session. Now Nifty Futures has near support around 19350 and upside near hurdle around 19500 levels. Break above 19500 will see an upside move till 19600-19650 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 19350 levels, break and sustain below 19350 will see a downside fall till 19300 levels. More downside will expect on close below 19300 levels.

Trading strategy

Traders Sell Nifty Future below 19350 with a stop loss above 19430 levels for the downside movement till 19300— 19250 levels.

Bank Nifty Futures

Bank Nifty futures still facing a hurdle on the higher levels and closed below the same in the last trading session. Bank Nifty has near resistance around 44200, breaks and sustains above 44200 will see an upside movement till 44400-44500 levels.

On the lower side, Bank Nifty has a major support around 43900, break and sustain below 43900 will see a fresh downfall fall till 43700 levels.

Trading Strategy

Traders can Sell Bank Nifty Future below 44000 with a stop loss above 44200 for the downside movement till 43850—43800 levels in an intraday trading session.

Stock Pick of the day

BEL

Buy BEL on dip around 132 for the upside move till 135 and then to 136 levels in the coming days. Stop loss below 129.50.

*T&C Apply…