Gift Nifty Indicates Positive Opening After Fed Rate Hikes...

EQUITY BULLETIN FOR 27 JULY 2023

Nifty Futures

Nifty Spot recovered sharply from the support level and closed on a bullish note in the last trading session. Now Nifty has immediate support around 19700 and near resistance around 19830 levels. A break above 19830 will see an upside move till 19900 levels and further upside will expect on close above 19950 levels in the upcoming trading session.

On the other side, Nifty has support around 19700 levels, a break and an hourly close below 19700 will see a sharp fall till 19640-19600 levels.

Trading strategy

Traders can Buy Nifty above 19830 with a stop loss below 19750 levels for the upside movement till 19900 — 19950 levels.

Bank Nifty Futures

Bank Nifty Spot bounced back and formed a clear reversal candle on the chart in the last trading session. Bank Nifty has near resistance around 46150, breaks and an hourly close above 46150 will see an upside movement till 46350-46500 levels.

On the lower side, Bank Nifty has a near support around 45800, break and sustain below 45800 will see a sharp correction till 45600 levels.

Trading Strategy

Traders can Buy Banknifty above 46150 with a stop loss below 45900 for the upside movement till 46350—46450 levels in an intraday trading session.

Stock Pick of the Day

NMDC

Buy NMDC above 113 for the upside move till 116 and then to 118 levels in the coming days. Stop loss below 110.

*T&C Apply…