Market Trying to Find Stability Before Monthly Expiry...

EQUITY BULLETIN FOR 29 AUGUST 2023

Nifty Futures

Nifty Futures again achieved our intraday upside targets in the last trading session. Now Nifty Futures has near support around 19250 and upside near hurdle around 19380 levels. Break above 19380 will see an upside move till 19430-19480 levels and fresh upside will expect on close above 19500 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 19250 levels, break and sustain below 19250 will see a downside fall till 19200 levels. More downside will expect on close below 19200 levels.

Trading strategy

Traders can Buy Nifty Future above 19350 with a stop loss below 19250 levels for the upside movement till 19440— 19480 levels.

Bank Nifty Futures

Bank Nifty performed well and closed on a positive note in the last trading session. Bank Nifty has near support around 44300 and near resistance around 44600, breaks and sustains above 44600 will see an upside movement till 44800-44950 levels.

On the lower side, Bank Nifty has a near support around 44300, break and sustain below 44300 will see a downfall fall till 44200-44050 levels.

Trading Strategy

Traders can enter on dips around 44350 with a stop loss below 44150 for the upside movement till 44550—44700 levels in an intraday trading session.

Stock Pick of the day

VEDL (29/08/2923)

Buy VEDL around 237 for the upside move till 242 and then to 245 levels in the coming days. Stop loss below 232.

*T&C Apply…