A Profit Booking Session Will Expect From the Higher Levels...

EQUITY BULLETIN FOR 18 DECEMBER 2023

Nifty Futures

Nifty Futures broke all the records and moving in a overbought zone in the last trading session. Now, Nifty Futures has near support around 21480 and upside near hurdle around 21600 levels. Break and sustain above 21600 will take it towards 21660-21700 levels in the upcoming trading sessions.

On the other side, Nifty has immediate support around 21480 levels, break and sustain below 21480 will expect a sharp profit booking till 21400-21350 levels. More downside will expect on close below 21100 levels.

Trading strategy

Traders can Sell Nifty Future around 21550 with a stop loss above 21620 levels for the downside movement till 21480— 21420 levels.

Bank Nifty Futures

Bank Nifty again skyrocketed and formed a doji candle in the last trading session. Bank Nifty has near support around 48100 and near resistance around 48400, breaks and sustains above 48400 will see an upside movement till 48500-48600 levels.

On the lower side, Bank Nifty has a near support around 48100, break and sustain below 48100 will see a fresh downfall fall till 47900-47800 levels. Fresh downside move will expect on close below 47800 levels till 47500 mark.

Trading Strategy

Traders can Sell Bank Nifty below 48150 with a stop loss above 47400 for the downside movement till 47950—47800 levels in an intraday trading session.

Stock Pick of the day

DRREDDY (18/12/2023)

Buy Drreddy futures above 5650 for the upside move till 5750 and then to 5800 levels in the coming days. Stop loss below 5550.

*T&C Apply…