Huge Volatility will Expect Ahead of Budget Session...

EQUITY BULLETIN FOR 31 JANUARY 2024

Roller coaster ride in Indian Markets from past few sessions. India VIX is showing more volatility in upcoming sessions.

Nifty Overview

Nifty Futures erased all previous days gain and ended up with huge fall of more than 200 points.

Now, Nifty Future has near support around 21550 and upside near hurdle around 21750 levels. Break and sustain above 21750 will take it towards 21820-21850 levels.

On the other side, Nifty has near support around 21550 levels, break and sustain below 21550 will expect a downside fall till 21480-21450 levels.

Trading strategy

Traders can Sell Nifty Futures on rise around 21760 with a stop loss above 21850 levels for the downside movement till 21680— 21600 levels.

Bank Nifty Overview

Bank Nifty too witnessed a bearish movement and closed on a negative note on the daily chart. Bank Nifty has next support around 45400 and near resistance around 45850, breaks and sustains above 45850 will see an upside movement till 46100-46250 levels.

On the lower side, Bank Nifty has a next support range around 45400, a break and sustain below 45400 will see a fresh downfall fall till 45200-45000 levels.

Trading Strategy

Buy Bank Nifty Future above 45850 with a stop loss below 45500 for the upside movement till 46100—46250 levels in an intraday trading session.

Stock Pick of the day

NAVINFLUOR (31/01/2024)

Buy Navinfluor Futures above 3360 for the upside move till 3450 and then to 3500 levels in the coming days. Stop loss below 3250.

*T&C Apply…