Market Indicates Flat to Positive Opening for the Day...

EQUITY BULLETIN FOR 21 AUGUST 2023

Nifty Futures

Nifty Futures still holding its crucial support level and managed to close above the same in the last trading session. Nifty also performed well as per our given view in the last session.

Now Nifty Futures has near support around 19300 and upside near hurdle around 19450 levels. Break above 19450 will see an upside move till 19500 levels in the upcoming trading session. Fresh upside move will expect on a daily close above 19500 levels.

On the other side, Nifty has major support around 19300 levels, break and close below 19300 will see a downside fall till 19200 levels.

Trading strategy

Risky Traders can Buy Nifty Future above 19450 with a stop loss below 19350 levels for the upside movement till 19530— 19580 levels.

Bank Nifty Futures

Bank Nifty again formed a green Doji candle on the lower levels. Bank Nifty has near resistance around 44200, breaks and sustains above 44200 will see an upside movement till 44400-44500 levels.

On the lower side, Bank Nifty has a major support around 43800, break and sustain below 43800 will see a fresh downfall fall till 43500 levels.

Trading Strategy

Traders can Buy Bank Nifty Future above 44200 with a stop loss below 43900 for the upside movement till 44400—44500 levels in an intraday trading session.

Stock Pick of the day

POLYCAB

Buy Polycab Future above 4880 for the upside move till 4960 and then to 5000 levels in the coming days. Stop loss below 4800.

*T&C Apply…