Market is heading towards 16000 levels...

EQUITY BULLETIN FOR 10 MAY 2022

Nifty Futures

Downtrend continues in the market and we will expect more downfall in upcoming sessions. Now Nifty has resistance around 16400 if it breaks and sustains above 16400 will see an upside rally till 16500 — 16550 levels in an intraday session.

On the other side, we will expect it to test 16000 levels. Now Nifty has major support around 16150, break and close below 16150 will see a downside fall till 16050 — 16000 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future on dips around 16050 with a stop loss below 15900 levels for the upside movement till 16230 — 16300 levels in an intraday session.

Bank Nifty Futures

Bank Nifty still looks weak for more downside move. Bank Nifty has resistance around 34600, breaks and sustains above 34600 will see an upside movement till 34800–34900 levels in an intraday session.

Otherwise, major 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 33900 with a stop loss below 33600 for the upside movement till 34200—34400 levels in an intraday trading session.

Stock Pick of the day

MARUTI

Buy Maruti around 7300 for the upside move till 7450 and then to 7500 levels in the coming days. Stop loss above 7150.

*T&C Apply…