Market is Approaching Towards Crucial Support levels...

EQUITY BULLETIN FOR 3RD JANUARY 2024

Nifty Futures

Nifty Futures again crashed below the crucial support and closed on a negative note in the last trading session. Nifty formed a slightly bearish candle on the daily chart.

Now, Nifty Futures has near support around 21650 and upside near hurdle around 21820 levels. Break and sustain above 21820 will take it towards 21900 levels and further upside move will expect on close above 21900 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 21650 levels, break and sustain below 21650 will expect a downside fall till 21580-21550 levels.

Trading strategy

 Risky Traders can Buy Nifty Future on dip around 21620 with a stop loss below 21520 levels for the upside movement till 21750— 21800 levels.

Bank Nifty Futures

Bank Nifty fell sharply with a major correction after record highs on the daily chart. Bank Nifty has next support around 47700 and near resistance around 48200, breaks and sustains above 48200 will see an upside movement till 48400-48500 levels.

On the lower side, Bank Nifty has a next support around 47700, a break and sustain below 47700 will see a fresh downfall fall till 47500 levels.

Trading Strategy

Traders can Buy Bank Nifty on dip around 47700 with a stop loss below 47400 for the upside movement till 48000—48200 levels in an intraday trading session.

Stock Pick of the day

AMBUJA CEMENT (03/01/2024)

Buy Ambuja Cement Future above 536 for the upside move till 547 and then to 558 levels in the coming days. Stop loss below 525.

*T&C Apply…