Be Cautious Before RBI Policy...

EQUITY BULLETIN FOR 05 AUGUST 2022

Nifty Futures

Market still looks positive before the RBI policy. Nifty has crucial support around 17200 and upside resistance around 17500. Break and sustain above 17500 will test 17600 and then to 17700 levels in upcoming sessions.

On the other side, Nifty has near support around 17200 levels, break and close below 17200 will see a downside fall till 17050-17000 levels.

Trading strategy

Traders can buy Nifty Future around 17200 with a stop loss below 17000 levels for the upside movement till 17450 — 17550 levels.

Bank Nifty Futures

Bank Nifty has given a small correction in the last trading session. Bank Nifty has near resistance around 38100, breaks and sustains above 38100 will see an upside movement till 38400-38600 levels.

We have a downside support around 37200, breaks below 37200 will see a fresh downside fall till 36900-36800 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 37500 with a stop loss below 37200 for the upside movement till 37900—38100 levels in an intraday trading session.

Stock Pick of the day

VEDL

Buy VEDL around 350 for the upside move till 362 and then to 366 levels in the coming days. Stop loss below 339.

*T&C Apply…