Market is again heading towards bullish zone...

EQUITY BULLETIN FOR 23 MAY 2022

Nifty Futures

The market is heading towards a positive zone. Now Nifty has major resistance around 16400, next upside rally will only expect on hourly close above 16400 till 16500 — 16600 levels in an intraday session.

On the other side, the Nifty has near support around 16100, break and sustain below 16100 will see a downside fall till 16000 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future around 16150 with a stop loss below 16000 levels for the upside movement till 16300— 16400 levels in an intraday session.

Bank Nifty Futures

Bank Nifty too looks good for the upside move and closed on a bullish note in the last trading session. Bank Nifty has resistance around 34600, breaks and sustains above 34600 will see an upside movement till 34850-35000 levels in an intraday session.

Otherwise, near support around 34000, breaks below 34000 will see a fresh downside fall till 33800-33700 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 34200 with a stop loss below 33900 for the upside movement till 34550—34700 levels in an intraday trading session.

Stock Pick of the day

Tata Power

Buy Tata Power above 235 for the upside move till 242 and then to 245 levels in the coming days. Stop loss below 228.

*T&C Apply…