Be cautious at higher levels for upcoming sessions...

WEEKLY EQUITY BULLETIN FROM 06 DEC TO 10 DEC 2021

The stellar run on Wednesday & Thursday helped the market close with a percent gain amid volatility in the week ended December 3, as investors and traders kept a close watch on the new Covid variant Omicron that created a lot of uncertainty globally. The fall in oil prices, good GDP growth in Q2FY22, and further uptrend in Manufacturing PMI also supported the equity, though rising expectations for faster Fed tapering limited upside.

The BSE Sensex rallied 589.31 points to 57,696.46, and the Nifty50 climbed 170.25 points to 17,196.70, while the broader markets also joined the rally, with the BSE Midcap and Smallcap indices rising around 1.35 percent and 1.25 percent respectively.

Nifty Future

On the weekly basis, Nifty has Resistance around 17600, if it breaks and closes above 17600 will see an upside rally till 18400 and further to 18600 levels in days to come.

Major support around 16800, if it breaks & closes below 16800 will see sharp downside panic till 15900 and then to 15600 levels in days to come.

Intraday Levels

Nifty Future has resistance around 17350, breaks above 17350 will see intraday upside movement till 17500---17550 levels while Support around 17200, breaks below 17200 will see intraday sell-off till 17050---17000 levels on the Monday trading session.

Bank Nifty Future

On the weekly basis, Bank Nifty has Resistance around 37500, if it breaks and trades above 37500 will see an upside rally till 38800 and further to 39500 levels in upcoming trading sessions.

Major Support around 35500, if it breaks and close below 35500 will see downside fall till 34500 and further to 34000 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 36500, breaks above 36500 will see an intraday upside movement till 37000---37300 levels while Support around 36000, breaks below 36000 will see intraday sell-off till 35400---35250 levels on the Monday trading session.

Weekly Top Pick Stock

Buy IEX FUTURE around 250 with a stop loss below 240 levels for an upside movement till 265----270 +++ levels in days to come.

Buy ISEC above 775 with a stop loss below 730 levels for an upside movement till 820----830 levels in days to come. *T&C Apply...