Bulls Trying to Hold the Grip, Keep IT Stocks on Radar...

EQUITY BULLETIN FOR 11 JANUARY 2024

Nifty Futures

Nifty Futures recovered sharply from the major support level and closed on a higher note in the last trading session. Now most of the sectors are moving above the major supports and looks good for the further rally.

Now, Nifty Futures has near support around 21550 and upside near hurdle around 21750 levels. Break and sustain above 21750 will take it towards 21820-21860 levels and further upside move will expect on close above 21850 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 21550 levels, break and sustain below 21550 will expect a downside fall till 21500 levels.

Trading strategy

 Traders can Buy Nifty Future on dip around 21660 with a stop loss below 21550 levels for the upside movement till 21750— 21800 levels.

Bank Nifty Futures

Bank Nifty took the support from the crucial level and closed on a positive note in the last trading session. Bank Nifty has next support around 47300-47200 and near resistance around 47800, breaks and sustains above 47800 will see an upside movement till 48000-48200 levels.

On the lower side, Bank Nifty has a next support range around 47300-47200, a break and sustain below 47300 will see a fresh downfall fall till 47000-46800 levels.

Trading Strategy

Traders can Buy Bank Nifty around 47450 with a stop loss below 47200 for the upside movement till 47700—47800 levels in an intraday trading session.

Stock Pick of the day

BHEL (11/01/2024)

Buy BHEL around 196.50 for the upside move till 201 and then to 204 levels in the coming days. Stop loss below 193.

*T&C Apply…