Bank Nifty Eyes on 49K Mark and Nifty Took Halt at Record Highs...

EQUITY BULLETIN FOR 17 JANUARY 2024

Nifty Futures

Nifty Futures witnessed a profit booking sesssion from the all time high in the last trading session. Now be cautious at higher levels while taking any trades.

Now, Nifty Futures has near support around 22000 and upside near hurdle around 22150 levels. Break and sustain above 22150 will take it towards 22220-22250 levels. Any sharp dip will be a good buying opportunity.

On the other side, Nifty has near support around 22000 levels, break and sustain below 22000 will expect a downside fall till 21920-21850 levels.

Trading strategy

 Traders can Buy Nifty Future above 22100 with a stop loss below 22000 levels for the upside movement till 22180— 22250 levels.

Bank Nifty Futures

Bank Nifty looks solid on the charts and ready to test its all time highs in upcoming sessions. Bank Nifty has next support around 48000 and near resistance around 48500, breaks and sustains above 48500 will see an upside movement till 48800-49000 levels.

On the lower side, Bank Nifty has a next support range around 48000, a break and sustain below 48000 will see a fresh downfall fall till 47800-47700 levels.

Trading Strategy

Traders can Buy Bank Nifty above 48500 with a stop loss below 48250 for the upside movement till 48800—49000 levels in an intraday trading session.

Stock Pick of the day

RBL BANK (17/01/2024)

Buy RBL Bank 300 CE above 9.50 for the upside move till 13 and then to 15 levels in the coming days. Stop loss below 6.50.

*T&C Apply…