Huge Single Day Fall Since 2022, Still Looks Weak...

EQUITY BULLETIN FOR 18 JANUARY 2024

Nifty Futures

Nifty Futures crashed drastically after the HDFC Bank results and Fear in the market at top level. Take your trades with levels only as we will expect more downside in upcoming sessions.

Now, Nifty Futures has near support around 21480 and upside near hurdle around 21750 levels. Break and sustain above 21750 will take it towards 21820-21860 levels. Risky traders can enter on dips around support.

On the other side, Nifty has near support around 21480 levels, break and sustain below 21480 will expect a downside fall till 21400-21350 levels.

Trading strategy

 Risky Traders can Buy Nifty Future around 21480 with a stop loss below 21380 levels for the upside movement till 21600— 21650 levels.

Bank Nifty Futures

Bank Nifty dragged sharply and record largest single day fall since 2022. Bank Nifty has next support around 45900 and near resistance around 46600, breaks and sustains above 46600 will see an upside movement till 46800-47000 levels.

On the lower side, Bank Nifty has a next support range around 45900, a break and sustain below 45900 will see a fresh downfall fall till 45700-45500 levels.

Trading Strategy

Traders can Buy Bank Nifty only on dip around 45700 with a stop loss below 45400 for the upside movement till 46200—46500 levels in an intraday trading session.

Stock Pick of the day

BALAMINES (18/01/2024)

Buy BALAMINES above 2500 for the upside move till 2600 and then to 2650 levels in the coming days. Stop loss below 2400.

*T&C Apply…