Market Tumbled After a Fed's Hawkish Stance...

EQUITY BULLETIN FOR 21 SEPTEMBER 2023

Nifty Futures

Nifty dragged sharply and closed on a negative note in the last trading session. Now we are expecting some correction on the charts after a hawkish view from the Fed statement.

Now Nifty Futures has near support around 19900 and upside near hurdle around 20050 levels. Break above 20050 will see an upside move till 20120-20150 levels.

On the other side, Nifty has immediate support around 19900 levels, break and sustain below 19900 will see a downside fall till 19820-19780 levels.

Trading strategy

Traders can Sell Nifty Future around 20000 with a stop loss above 20080 levels for the downside movement till 19920—19880 levels.

Bank Nifty Futures

Bank Nifty tumbled after the accident in HDFC Bank and closed on a bearish note in the last trading session. Bank Nifty has near support around 45400 and near resistance around 45800, breaks and sustains above 45800 will see an upside movement till 46000 levels.

On the lower side, Bank Nifty has major support around 45400, break and sustain below 45400 will see a fresh downfall fall till 45200-45000 levels.

Trading Strategy

Traders can Sell Bank Nifty around 45700 with a stop loss above 46000 for the downside movement till 45400—45300 levels in an intraday trading session.

Stock Pick of the Day

BIOCON (21/09/2023)

Buy Biocon around 271 for the upside move till 276 and then to 270 levels in the coming days. Stop loss below 265.

*T&C Apply…