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

EQUITY BULLETIN FOR 08 JANUARY 2024

Nifty Futures

Nifty Futures again closed on a positive note in the last trading session. We will expect fresh breakout in upcoming sessions.

Now, Nifty Futures has near support around 21700 and upside near hurdle around 21850 levels. Break and sustain above 21850 will take it towards 21920-21960 levels and further upside move will expect on close above 21920 levels in the upcoming trading sessions.

On the other side, Nifty has major support around 21700 levels, break and sustain below 21700 will expect a downside fall till 21620-21550 levels.

Trading strategy

 Traders can Buy Nifty Future on dip around 21690 with a stop loss below 21600 levels for the upside movement till 21780— 21850 levels.

Bank Nifty Futures

Bank Nifty still sustaining above the upward sloping trendline and closed above the same in the last trading session. Bank Nifty has next support around 48000 and near resistance around 48550, breaks and sustains above 48550 will see an upside movement till 48850-49000 levels.

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

Trading Strategy

Traders can Buy Bank Nifty around 48100 with a stop loss below 48850 for the upside movement till 48550—48700 levels in an intraday trading session.

Stock Pick of the day

INFOSYS (08/01/2024)

Buy Infosys Future above 1540 for the upside move till 1570 and then to 1599 levels in the coming days. Stop loss below 1510.

*T&C Apply…