Market looks weak but be cautious at lower levels...

EQUITY BULLETIN FOR 07 APRIL 2022

Nifty Futures

Nifty looks weak on the charts. Now Nifty has resistance around 18000 if it breaks and sustains above 18000 will see an upside rally till 18100 — 18150 levels in an intraday session.

Nifty has support around 17800, an break below 17800 will see intraday downside fall till 17700 — 17650 levels in an intraday session.

Trading strategy

Traders can sell Nifty Future below 17800 with a stop loss below 17950 levels for a downside movement till 17700 — 17650 levels in an intraday session.

Bank Nifty Futures

Bank Nifty too looks weak on the charts. Bank Nifty has resistance around 38100, breaks and sustains above 38100 will see an upside movement till 38350–38500 levels in an intraday session.

Otherwise, Support around 37500, and breaks below 37500 will see an intraday downside fall till 36200—36000 levels in an intraday session.

Trading Strategy

Traders can sell Banknifty Future on below 37500 with a stop loss above 37850 for a downside movement till 37300—37000 levels in an intraday trading session.

Stock Pick of the day

BPCL

Buy BPCL around 384 for the upside move till 390 and then to 395 levels in the coming days. Stop-loss above 375.

*T&C Apply…