Bank Nifty is Heading Towards 45K Mark...

EQUITY BULLETIN FOR 05 SEPTEMBER 2023

Nifty Futures

Nifty Futures performed well and successfully achieved our initial targets in the last trading session. Now Nifty Futures has near support around 19500 and upside near hurdle around 19650 levels. Break above 19650 will see an upside move till 19700-19740 level.

On the other side, Nifty has immediate support around 19500 levels, break and sustain below 19500 will see a downside fall till 19450-19400 levels. Buy on dips around support will be a good opportunity for the traders.

Trading strategy

Traders can Buy Nifty Future around 19550 with a stop loss below 19480 levels for the upside movement till 19630— 19660 levels.

Bank Nifty Futures

Bank Nifty too performed well and closed on a bullish note in the last trading session. Bank Nifty has near support around 44500 and near resistance around 44800, breaks and sustains above 44800 will see an upside movement till 45000 levels.

On the lower side, Bank Nifty has a near support around 44500, break and sustain below 44500 will see a downfall fall till 44300 levels.

Trading Strategy

Traders can enter on dip around 44500 with a stop loss below 44280 for the upside movement till 44750—44900 levels in an intraday trading session.

Stock Pick of the day

BANK OF BARODA (05/09/2923)

Buy Bank Baroda around 195.50 for the upside move till 198 and then to 200 levels in the coming days. Stop loss below 193.

*T&C Apply…