Both Side volatility will expect in upcoming session...

WEEKLY EQUITY BULLETIN FROM 31 JAN TO 04 FEB 2022

The Union Budget will be the talk of the town, all eyes are on the upcoming Union Budget. Markets have been bleeding for the last couple of days and any positive news from the government may boost investors' sentiment.

In the last week, BSE Sensex declined 1,836.95 points (3.11 percent) to end at 57,200.23, while the Nifty50 lost 515.2 points (2.92 percent) to close at 17,101.95 levels. Among broader indices, the BSE Smallcap index fell 3.4 percent and the Midcap indices shed 3 percent.

Among sectors, the Nifty Information Technology index lost 6 percent, the Nifty Realty index declined 5 percent and the Nifty Metal index fell 4.4 percent. However, the Nifty PSU Bank index added 7 percent.

Nifty Futures

On the weekly basis, the Nifty future has resistance around 17400, if it breaks and closes above 17400 will see an upside rally till 18000 and further to 18500 levels in upcoming trading sessions.

Major support around 16900, if it breaks & closes below 16900 will see sharp downside panic till 16200 and then to 15800 levels in upcoming trading sessions.

Intraday Levels

Nifty Future has resistance around 17200, breaks above 17200 will see intraday upside movement till 17350---17400 levels while Support around 17000, breaks below 17000 will see intraday sell-off till 16900---16850 levels on the Monday trading session.

Bank Nifty Futures

On the weekly basis, the Bank Nifty future has resistance around 39000, if it breaks and closes above 39000 will see an upside rally till 40200 and further to 40800 levels in upcoming trading sessions.

Major Support around 37000, if it breaks and close below 37000 will see downside fall till 35900 and further to 35500 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 38500, breaks above 38500 will see an intraday upside movement till 38800---39000 levels while Support around 37500, breaks below 37500 will see intraday sell-off till 37200---37000 levels on the Monday trading session.

Weekly Top Pick Stock

Tata Power Company Limited

Buy TATA POWER above 253 with a stop loss below 230 levels for an upside movement till 280 +++ levels in days to come OR Buy TATA POWER 270 CE 24 FEB above 7 with a stop loss below 3 for an upside target of 15 +++ levels in the coming days.

Indian Hotels Company Ltd.

Buy INDHOTEL above 215 with a stop loss below 200 levels for an upside movement till 235----240+++ levels in days to come. *T&C Apply...