Bull are on the front foot...

EQUITY BULLETIN FOR 01 AUGUST 2022

Nifty Futures

The market looks bullish and we will expect a fresh bull run in upcoming sessions. Now Nifty has a near resistance zone around 17250 if it breaks and sustains above 17250 then we will expect an upside rally till 17400 —17500 levels in the upcoming trading sessions.

On the other side, the Nifty has near support around 17000 levels, break and close below 17000 will see a short downside fall till 16900 levels.

Trading strategy

Traders can buy Nifty Future around 17040 with a stop loss below 16900 levels for the upside movement till 17200 — 17280 levels.

Bank Nifty Futures

Bank Nifty has given a strong breakout in the last week and ready for the huge upside in the upcoming sessions. Bank Nifty has near resistance around 37800, breaks and sustains above 37800 will see an upside movement till 38100-38300 levels.

We have downside support around 37400, breaks below 37400 will see a small downside fall till 37200-37000 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 37300 with a stop loss below 37000 for the upside movement till 37600—37900 levels in the upcoming trading session.

Stock Pick of the day

ONGC

Buy ONGC above 135 for the upside move till 138 and then to 140 levels in the coming days. Stop loss below 132.

*T&C Apply…