A sharp bounce may expect from the market...

EQUITY BULLETIN FOR 04 MAY 2022

Nifty Futures

The market is trading near oversold levels. Now Nifty has resistance around 17150 if it breaks and sustain above 17150 will see an upside rally till 17240 — 17300 levels in an intraday session.

Nifty has major support around 16880, an break below 16880 will see a major downside fall till 16800 — 16700 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future around 17050 with a stop loss below 16900 levels for the upside movement till 17200 — 17300 levels in an intraday session.

Bank Nifty Futures

Bank Nifty looks good for the fresh reversal on the daily charts. Bank Nifty has resistance around 36500, breaks and sustains above 36500 will see an upside movement till 36800–37200 levels in an intraday session.

Otherwise, major support around 35500, break below 35500 will see a fresh downside fall till 35300-35200 levels in an upcoming session.

Trading Strategy

Traders buy Banknifty Future around 36000 with a stop loss below 35700 for the upside movement till 36400—36600 levels in an intraday trading session.

Stock Pick of the day

ZEEL

Buy Zeel around 254 for the upside move till 262 and then to 266 levels in the coming days. Stop-loss above 245.

*T&C Apply…