Golden Run Continues and Bank Nifty Eyes on Fresh Life Highs...

EQUITY BULLETIN FOR 04 MARCH 2024

Nifty Future Overview

Golden run continues in the market and Nifty again closed at fresh life-high in the last trading session. Now, Nifty is moving towards 22700 levels and we will expect it to test this level in 1-2 trading sessions.

Now, Nifty has near support around 22400 and an upside near hurdle around 22550 levels. Break and sustain above 22550 will take it towards 22620-22700 levels.

On the other side, Nifty has near support around 22400 levels, break and sustain below 22400 will expect a downside fall till 22320-22250 levels. Any sharp dip will be a buying opportunity for the traders

Trading strategy

Traders can Buy Nifty Futures on dip around 22420 with a stop loss below 22300 levels for the upside movement till 22540— 22600 levels.

Bank Nifty Overview

Bank Nifty too performed well and formed a bullish pattern in the last trading session. We will expect a fresh bull run in upcoming sessions. Bank Nifty's future has near major around 47300 and near resistance around 47700, breaks and sustains above 47700 will see an upside movement till 48000-48200 levels.

On the lower side, Bank Nifty has a near major support around 47300, a break and sustain below 47300 will see a downside fall to 47100-47000 levels. Any sharp dip around support will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future above 47700 with a stop loss below 47400 for the upside movement till 48000—48200 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

RBL BANK (04/03/2024)

Buy RBL Bank above 273 for the downside move till 278 and then to 282 levels in the coming days. Stop loss above 267.

**T&C Apply...