Bulls are on the front foot...

EQUITY BULLETIN FOR 20 JULY 2022

Nifty Futures

A gap-up opening will expect for the day. Nifty broke its major hurdle and given a daily close above the crucial hurdle. Now we will expect it to test 16500 levels for the day. Break above 16500 will see fresh upside move till 16650-16700 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 16250 levels, break and close below 16250 will see a downside fall till 16150-16100 levels.

Trading strategy

Traders can buy Nifty Future around 16300 with a stop loss below 16150 levels for the upside movement till 16480 — 16550 levels.

Bank Nifty Futures

Bank Nifty looks solid on the charts and we will expect it to cross the 36000 level for the day. Bank Nifty has near resistance around 36000, breaks and sustains above 36000 will see an upside movement till 36200-36333 levels. The fresh bull run will expect on close above 36333 till 36700-37000 levels.

We have downside support around 35500, breaks below 35500 will see a small downside fall till 35300-35200 level in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 35500 with a stop loss below 35300 for the upside movement till 35850—36000 levels in an intraday trading session.

Stock Pick of the day

HINDPETRO

Buy Hindpetro above 244 for the upside move till 250 and then to 254 levels in the coming days. Stop loss below 238.

*T&C Apply…