Bank Nifty at Record High and Nifty Eyes on 23K Mark...

EQUITY BULLETIN FOR 30 APRIL 2024

Nifty Future Overview

Nifty again skyrocketed and heading towards fresh life high. Now Nifty is moving above the strong resistance zone and closed on a bullish note in the last trading session. Now we will expect a fresh life high in today's trading session. Now Nifty has major support around 22680 and upside resistance around 22850. A breach and sustained movement above 22850 could propel Nifty towards levels of 22930-23000. Conversely, a downturn below 22680 may trigger a sharp decline to 22600-22550 levels. Buy on dips around support will be a buying opportunity for traders.

Trading Strategy for Nifty Futures     Traders are advised to consider buying Nifty Futures around 22700 mark, with a stop loss set below 22600 for potential targets up to 22800—22850 levels.

Bank Nifty Overview     Bank Nifty performed well and made a fresh life high in the last trading session. We will expect another bull run towards 50K mark. Now Bank Nifty has near support range around 49200 and resistance at 49700, sustained movement beyond 49700 could lead Bank Nifty towards 50000-50200 levels. Conversely, a breach below 49200 may drive it down to 48900-48700 levels. Trading Strategy

Buy Bank Nifty Future around 49400 with a stop loss below 49100 for the upside movement till 49800—50000 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.

Stock Pick of the Day

AU BANK (30/04/2024)

Buy AU BANK on dip around 640 for the upside move till 655 and then to 665 levels in the coming days. Stop loss below 625.           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...