Another Volatile Session is Expected Ahead of the Budget Session...

EQUITY BULLETIN FOR 31 JANUARY 2023

Nifty Futures

Nifty Futures performed well as per our expectations in the last trading session. Now Nifty has major support around 17500 and upside crucial hurdle around 17800 levels. Break above 17800 will see a fresh upside move till 17950-18000 levels in the upcoming trading sessions. Fresh bull run will expect on a daily close above 18000 levels.

On the other side, Nifty has major support around 17500 levels, break and close below 17500 will see a downside fall till 17350-17250 levels.

Trading strategy

Traders can Buy Nifty Future above 17800 with a stop loss above 17650 levels for the upside movement till 17920 — 18000 levels.

Bank Nifty Futures

Bank Nifty bounced from the crucial support zone and managed to close above 40500 level in the last trading session. Bank Nifty has near resistance around 41200, breaks and sustains above 41200 will see an upside movement till 41500-41750 levels.

On the lower side, Bank Nifty has a major support around 39600, break and a daily close below 39600 will see a fresh downfall fall till 39000 levels.

Trading Strategy

Traders can buy Bank Nifty Future on dip around 40400 with a stop loss below 39800 for the upside movement till 41000—41200 levels in an intraday trading session.

Stock Pick of the day

UNICHEM LABORATORIES LTD

Buy Unichemlab around 322 the upside move till 344 and then to 355 levels in the coming days. Stop loss below 300.

*T&C Apply…