Both Side Volatility Will Expect in Nifty and Bank Nifty on Weekly Expiry...

EQUITY BULLETIN FOR 10 APRIL 2024

Nifty Future Overview

Nifty performed well and made a fresh lifetime high but erased all the gains last trading session. Now we will expect another upside move in the upcoming session. Nifty futures still moving above the near support level of 22700, with near resistance at 22850. A breach and sustained movement above 22850 could propel Nifty towards levels of 22900-23000.

Conversely, a downturn below 22700 may trigger a sharp decline to 22620-22550 levels, presenting buying opportunities for astute traders.

Trading Strategy for Nifty Futures 

Sell Nifty Futures around 22800 mark, with a stop loss set above 22900 for potential downside move to 22720—22600 levels.

Bank Nifty Overview 

Bank Nifty again made a fresh record high and closed above the same in the last trading session. Now Bank Nifty has near support range around 48600 and resistance at 49050, sustained movement beyond 49050 could lead Bank Nifty towards 49200-49400 levels.

Conversely, a breach below 48600 may drive it down to 48400-48200 levels.

Trading Strategy

Buy Bank Nifty Future around 48500 with a stop loss below 48200 for the upside movement till 48900—49100 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

Stock Pick of the Day

MANAPPURAM (10/04/2024)

Buy Manappuram above 198 for the upside move till 202 and then to 205 levels in the coming days. Stop loss below 194.50.       

Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends.

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