Bank Nifty Looks Solid at Crucial Support...

EQUITY BULLETIN FOR 27 FEBRUARY 2024

Nifty Future Overview

Profit booking is witnessed from the higher levels in the last trading session. Now Nifty is moving around the major support level and closed above the same.

Now, Nifty has near support around 22050 and upside near hurdle around 22200 levels. Break and sustain above 22200 will take it towards 22270-22320 levels.

On the other side, Nifty has near support around 22050 levels, break and sustain below 22050 will expect a downside fall till 22000-21950 levels. Any sharp dip will be the best buying opportunity for the traders.

Trading strategy

Traders can Buy Nifty Futures above 22200 with a stop loss below 22080 levels for the upside movement till 22300— 22340 levels.

Bank Nifty Overview

Bank Nifty is moving above the crucial support zone and looks solid for the fresh bull run on the daily chart. We will expect a fresh upside breakout in upcoming sessions. Bank Nifty's future has near major around 46450 and near resistance around 47100, breaks and sustains above 47100 will see an upside movement till 47350-47500 levels.

On the lower side, Bank Nifty has a near major support around 46450, a break and sustain below 46450 will see a downside fall to 46300 levels. Any sharp dip around support will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future above 46700 with a stop loss below 46450 for the upside movement till 47000—47200 levels in an intraday trading session.

Trade cautiously with levels only.

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Buy NTPC Futures above 340 for the upside move till 345 and then to 349 levels in the coming days. Stop loss below 335.

**T&C Apply...