Market Begins Lower Following the Weak Handover From Global Counterparts...

EQUITY BULLETIN FOR 25 AUGUST 2023

Nifty Futures

Nifty Futures successfully achieved our intraday targets in the last trading session. Now Nifty Futures has near support around 19380 and upside near hurdle around 19450 levels. Break above 19450 will see an upside move till 19500 levels and further upside will expect on close above 19500 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 19380 levels, break and sustain below 19380 will see a downside fall till 19300 levels. More downside will expect on close below 19300 levels.

Trading strategy

Traders can Sell Nifty Future below 19380 with a stop loss above 19450 levels for the downside movement till 19300— 19260 levels.

Bank Nifty Futures

Bank Nifty erased all intraday gains and closed on a negative note in the last trading session. Bank Nifty has near support around 44400 and near resistance around 44750, breaks and sustains above 44750 will see an upside movement till 44900-45000 levels.

On the lower side, Bank Nifty has a near support around 44400, break and sustain below 44400 will see a fresh downfall fall till 44200-44000 levels.

Trading Strategy

Traders can enter on dips around 44200 with a stop loss below 43950 for the upside movement till 44450—44600 levels in an intraday trading session.

Stock Pick of the day

WATERBASE (25/08/2923)

Buy Waterbase on dip around 84 for the upside move till 89.50 and then to 94 levels in the coming days. Stop loss below 79.

*T&C Apply…