Flat to Positive Opening will Expect for the Day...

EQUITY BULLETIN FOR 2ND JANUARY 2024

Nifty Futures

Nifty Futures slipped sharply from the higher levels after the earthquake news from Japan in the last trading session. Nifty erased all intraday gains and formed a bearish Doji candle on the daily chart.

Now, Nifty Futures has near support around 21800 and upside near hurdle around 21920 levels. Break and sustain above 21920 will take it towards 22000 levels and further upside move will expect on close above 22000 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 21800 levels, break and a daily below 21800 will expect a sharp downside fall till 21720-21680 levels.

Trading strategy

 Traders can Sell Nifty Future around 21890 with a stop loss above 21980 levels for the downside movement till 21790— 21740 levels.

Bank Nifty Futures

Bank Nifty too crashed from higher levels and closed on a negative note on the daily chart. Bank Nifty has next support around 48200 and near resistance around 48700, breaks and sustains above 48700 will see an upside movement till 48900-49100 levels.

On the lower side, Bank Nifty has a next support around 48200, a break and sustain below 48200 will see a fresh downfall fall till 48000-47800 levels.

Trading Strategy

Traders can Sell Bank Nifty on rise around 48700 with a stop loss above 48000 for the downside movement till 48400—48200 levels in an intraday trading session.

Stock Pick of the day

PAGEIND (02/01/2024)

Buy Pageind Future above 39200 for the upside move till 40000 and then to 40500 levels in the coming days. Stop loss below 38400.

*T&C Apply…