Another Gap-Up Opening Will Expect Amid Global Support...

EQUITY BULLETIN FOR 24 APRIL 2024

Nifty Future Overview

After a gap-up opening Nifty performed well and breached its near resistance in the last trading session. Now we will expect more volatility before monthly expiry. Nifty futures currently moving above the near support level of 22300, with near hurdle around 22450. A breach and sustained movement above 22450 could propel Nifty towards levels of 22530-22600. Conversely, a downturn below 22300 may trigger a sharp decline to 22220-22150 levels. Buy on dips around support will be a buying opportunity for the traders.

Trading Strategy for Nifty Futures  Traders are advised to consider buying Nifty Futures around 22350 mark, with a stop loss set below 22250 for potential gains up to 22440—22500 levels.

Bank Nifty Overview  Bank Nifty again managed to close in the green but formed a red candle on the daily chart. Now Bank Nifty has near support range around 47800 and resistance at 48200, sustained movement beyond 48200 could lead Bank Nifty towards 48500-48700 levels. Conversely, a breach below 47800 may drive it down to 47500-47400 levels. Trading Strategy

Buy Bank Nifty Future around 48000 with a stop loss below 47700 for the upside movement till 48300—48500 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

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LTTS (28/04/2024)

Buy LTTS April above 5220 for the upside move till 5300 and then to 5340 levels in the coming days. Stop loss below 5140.        Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends. ***T&C Apply...