Market is moving around crucial support zone...

EQUITY BULLETIN FOR 23 AUGUST 2022

Nifty Futures

Nifty crashed sharply in the last trading session. Now Nifty has near support around 17350 and an upside hurdle around 17600 levels. Break above 17600 will see a fresh upside move till 17720-17760 levels in the upcoming trading sessions.

On the other side, the Nifty has near support around 17350 levels, break and close below 17350 will see a downside fall till 17250-17200 levels.

Trading strategy

Traders can sell Nifty Future around 17600 with a stop loss above 17720 levels for the downside movement till 17520 — 17480 levels.

Bank Nifty Futures

Bank Nifty too crashed in the last trading session. Bank Nifty has near resistance around 38500, breaks and sustains above 38500 will see an upside movement till 38800-39000 levels.

We have downside support around 37700, breaks below 37700 will see a small downside fall till 37500-37400 level in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 37800 with a stop loss below 37500 for the upside movement till 38200—38400 levels in an intraday trading session.

Stock Pick of the day

IBULHSGFIN

Buy Ibulhsgfin around for 124 the upside move till 129 and then to 132 levels in the coming days. Stop loss below 120.

*T&C Apply…