Market is trading in a oversold zone...

EQUITY BULLETIN FOR 20 APRIL 2022

Nifty Futures

Bloodbath move noticed in the last trading session. Now Nifty has resistance around 17100 if it breaks and close above 17100 will see an upside rally till 17220 — 17300 levels in an intraday session.

Nifty has major support around 16800, an break below 16800 will see major downside fall till 16700 — 16600 levels in an intraday session.

Trading strategy

Traders can Sell Nifty Future around 17150 with a stop loss above 17300 levels for an downside movement till 17000 — 16950 levels in an intraday session.

Bank Nifty Futures

Bank Nifty crashed below major support in the last trading session. Bank Nifty has resistance around 37000, breaks and sustains above 37000 will see an upside movement till 37250–37400 levels in an intraday session.

Otherwise, Support around 36000, breaks below 36000 will see fresh downside fall till 35500 levels in an upcoming session.

Trading Strategy

Traders can buy Bank Nifty Future around 36250 with a stop loss below 35900 for the upside movement till 36600—36800 levels in an intraday trading session.

Stock Pick of the day

INDHOTEL

Buy Indian Hotels around 244 for the upside move till 248 and then to 250 levels in the coming days. Stop loss above 240.

*T&C Apply…