All Major Indices are Moving Around the Strong Support Zone.

EQUITY BULLETIN FOR 04 AUGUST 2023

Nifty Futures

Nifty Futures again crashed sharply on the weekly expiry but managed to close above the crucial support zone. Now Nifty Futures has near support around 19350 and upside near hurdle around 19550 levels. Break above 19550 will see an upside move till 19620-19650 levels in the upcoming trading session.

On the other side, Nifty has major support around 19350 levels, break and sustain below 19350 will see a downside fall till 19250 levels.

Trading strategy

Traders Buy Nifty Future around 19450 with a stop loss below 19350 levels for the upside movement till 19550— 19600 levels.

Bank Nifty Futures

Bank Nifty futures witnessed a huge sell off and closed on a negative note in the last trading session. Bank Nifty has near resistance around 45000, breaks and sustains above 45000 will see an upside movement till 45200-45350 levels.

On the lower side, Bank Nifty has a major support around 44300, break and sustain below 44300 will see further downfall till 44000 levels.

Trading Strategy

Traders can Buy Bank Nifty Future around 44500 with a stop loss below 44300 for the upside movement till 45750—44900 levels in an intraday trading session.

Stock Pick of the day

JSW STEEL

Buy Jsw Steel 800 CE above 28 for the upside move till 34 and then to 38 levels in the coming days. Stop loss below 22.

*T&C Apply…