Global Sentiment look weak, But Domestic Cues are on Positive Side.

EQUITY BULLETIN FOR 10 AUGUST 2023

Nifty Futures

Nifty futures recovered sharply from the lower levels in the last trading session. Now Nifty has immediate support around 19500 and near resistance around 19700 levels. Break above 19700 will see an upside move till 19800-19850 levels. Traders can enter above 19700 for the upside target of 19800-19840.

On the other side, Nifty has support around 19500 levels, break and close below 19500 will test 19400 levels.

Trading strategy

Traders can Buy Nifty around 19580 with a stop loss below 19500 levels for the upside movement till 19700 levels.

Bank Nifty Futures

Bank Nifty Future too bounced from the major support level and closed above the crucial level in the last trading session. Bank Nifty has near resistance around 45200, breaks and an hourly close above 45200 will see an upside movement till the 45400-45500 levels.

On the lower side, Bank Nifty has a near support around 44800, break and sustain below 44800 will test 44500 level. Further weakness will expect on close below 44500 levels till 44200 levels.

Trading Strategy

Traders can Buy Banknifty above 45200 with a stop loss below 44900 for the upside movement till 45450—45500 levels in an intraday trading session.

Stock Pick of the day

Orient Paper

Buy Orient Paper above 45. Stop loss below 43. Target-48-50.

*T&C Apply…