Bulls Maintain Support, Anticipating Potential Reversal for Fresh Momentum...

EQUITY BULLETIN FOR 19 MARCH 2024

Nifty Future Overview

Nifty still holds the crucial support level and again bounced from the same in the last trading session. Now we will expect more support towards the upward direction in upcoming sessions.

Now, Nifty futures has near support around 22000 and an upside near hurdle around 22200 levels. Break and sustain above 22200 will take it towards 22280-22340 levels.

On the other side, Nifty has major support around 22000 levels, break and sustain below 22000 will expect a sharp downside fall till 21920-21850 levels. Risky traders can enter on dips around 22050 for the intraday gains.

Trading strategy

Traders can Buy Nifty Futures around 22050 with a stop loss below 21950 levels for the upside movement till 22150— 22200 levels.

Bank Nifty Overview

Bank Nifty recovered all intraday losses and ended with a positive reversal candle on the daily chart, indicating an upside reversal in upcoming sessions. Bank Nifty's future has near major around 46200 and near resistance around 46900, breaks and sustains above 46900 will see an upside movement till 47100-47400 levels.

On the lower side, Bank Nifty has a near major support around 46200, a break and sustain below 46200 will see a downside fall to 46000-47900 levels.

Trading Strategy

Buy Bank Nifty Future around 46600 with a stop loss below 46300 for the upside movement till 46900—47100 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

ONGC (19/03/2024)

Buy ONGC above 264 for the upside move till 268 and then to 270 levels in the coming days. Stop loss below 260.    ***T&C Apply...