Another Gap-up Opening Will Expect for the Day

EQUITY BULLETIN FOR 20 DECEMBER 2023

Nifty Futures

Nifty Futures recovered sharply from the lower levels and again headed toward a fresh lifetime high 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 21660-21710 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 profit booking till 21400 levels. More downside will expect on close below 21400 levels.

Trading strategy

Risky Traders can Buy Nifty Future on dip around 21520 with a stop loss below 21400 levels for the upside movement till 21610— 21660 levels.

Bank Nifty Futures

Bank Nifty formed a Doji candle around the lifetime high in the last trading session. Bank Nifty has near support around 47800 and near resistance around 48200, breaks and sustains above 48200 will see an upside movement till 48350-48500 levels.

On the lower side, Bank Nifty has a near support around 47800, a break and sustain below 47800 will see a fresh downfall fall till 47600-47500 levels.

Trading Strategy

Traders can Buy Bank Nifty around 47900 with a stop loss below 47600 for the upside movement till 48200—48300 levels in an intraday trading session.

Stock Pick of the day

JINDAL STEEL (20/12/2023)

Buy Jindal Steel futures above 735 for the upside move till 748 and then to 760 levels in the coming days. Stop loss below 723.

*T&C Apply…