Major Indices Nifty and Bank Nifty Look Slightly Weak...

EQUITY BULLETIN FOR 12 MARCH 2024

Nifty Future Overview

Nifty slipped from the higher levels and formed a bearish reversal candle from the higher levels in the last trading session. Now we will expect more correction in upcoming sessions.

Now, Nifty futures has near support around 22350 and an upside near hurdle around 22520 levels. Break and sustain above 22520 will take it towards 22580-22620 levels.

On the other side, Nifty has near support around 22350 levels, break and sustain below 22350 will expect a downside fall till 22280-22250 levels. Sell on rise around resistance will be the best opportunity for the day traders.

Trading strategy

Traders can Sell Nifty Futures on rise around 22500 with a stop loss above 22600 levels for the downside movement till 22400— 22350 levels.

Bank Nifty Overview

Bank Nifty too crashed from the higher levels and closed just above the crucial support zone in the last trading session. Bank Nifty's future has near major around 47350 and near resistance around 47800, breaks and sustains above 47800 will see an upside movement till 48000 levels.

On the lower side, Bank Nifty has a near major support around 47350, a break and sustain below 47350 will see a downside fall to 47100-47000 levels.

Trading Strategy

Buy Bank Nifty Future on dip around 47050 with a stop loss below 46800 for the upside movement till 47350—47500 levels in an intraday trading session.

Trade cautiously with levels only.

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