Market surges to record-breaking heights as bulls take control...

Equity Bulletin: Potential Opportunities for 03 July 2023

Nifty Futures: Breaking Barriers and Eyeing New Highs

Nifty Futures exhibited a remarkable performance, closing near its all-time high in the previous trading session. With immediate support resting around 19100 and a crucial obstacle at 19300, a breakthrough above 19300 is expected to pave the way for an upward movement towards 19400-19450 levels. Traders can seize the opportunity to buy on dips around the support level.

However, it is worth noting that Nifty's critical support lies at 19100. A breach and sustained closure below this level may result in a downward decline towards the 19000 mark.

Trading Strategy

Consider buying Nifty Future around 19100, with a stop loss set below 19000. This strategy aims for an upside movement targeting 19220-19300 levels.

Bank Nifty Futures: Riding the Bullish Wave

Bank Nifty is currently in a bullish phase and concluded the last trading session above its all-time high. The immediate resistance level for Bank Nifty is around 45000. If it successfully breaks and sustains above this level, an upward momentum towards 45300-45500 levels is anticipated.

On the flip side, Bank Nifty finds substantial support around 44500. A breach followed by a daily close below this level may lead to a minor decline towards 44200 levels.

Trading Strategy

Traders can consider buying Bank Nifty Future on a dip around 44600, placing a stop loss below 44300. The objective is to capitalize on the upside movement towards 44900-45000 levels within the intraday trading session.

Stock Pick of the Day: Indian Bank

Indian Bank is our top stock pick of the day. Traders may consider buying Indian Bank around 289, with a target of 305 initially, followed by 320 levels in the coming days. It is advisable to set a stop loss below 275.

*T&C Apply...