Gap-Up Start Will Expect; Keep IT Stocks On Radar...

EQUITY BULLETIN FOR 29 APRIL 2024

Nifty Future Overview

Nifty Futures corrected well as per our expectations and closed above the major support level in the last trading session. Now we will expect a sharp bounce from the current levels towards fresh life highs. Now Nifty has major support around 22500 and upside resistance around 22680. A breach and sustained movement above 22680 could propel Nifty towards levels of 22750-22800. Conversely, a downturn below 22500 may trigger a sharp decline to 22420-22350 levels. Buy on dips around support will be a buying opportunity for traders.

Trading Strategy for Nifty Futures    Traders are advised to consider buying Nifty Futures above 22600 mark, with a stop loss set below 22500 for potential targets up to 22700—22750 levels.

Bank Nifty Overview    Bank Nifty too closed on a bullish note on a weekly basis and ready for the fresh bull run. Now Bank Nifty has near support range around 48200 and resistance at 48600, sustained movement beyond 48600 could lead Bank Nifty towards 48850-49000 levels. Conversely, a breach below 48200 may drive it down to 48000-47900 levels. Trading Strategy

Buy Bank Nifty Future above 48400 with a stop loss below 48100 for the upside movement till 48700—48900 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

Stock Pick of the Day

ZEEL (29/04/2024)

Buy ZEEL above 150 for the upside move till 154 and then to 157 levels in the coming days. Stop loss below 146.          Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends. ***T&C Apply...