Negative Opening Will Expect Amid Weak Global Cues...

EQUITY BULLETIN FOR 03 APRIL 2024

Nifty Future Overview

After a range bound session Nifty ended on a flat note in the last trading session. Now we will expect small correction as global cues are weak for the day. Nifty futures currently moving above the near support level of 22500, with near support at 22620. A breach and sustained movement above 22620 could propel Nifty towards levels of 22700-22750.

Conversely, a downturn below 22500 may trigger a sharp decline to 22420-22350 levels, presenting buying opportunities for astute traders.

Trading Strategy for Nifty Futures 

Traders are advised to consider buying Nifty Futures around 22450 mark, with a stop loss set below 22350 for potential gains up to 22550—22600 levels.

Bank Nifty Overview 

Bank Nifty performed well and managed to close with a green candle in the last trading session. Now Bank Nifty has near support range around 47700 and resistance at 48000, sustained movement beyond 48000 could lead Bank Nifty towards 48200-48400 levels.

Conversely, a breach below 47700 may drive it down to 47450-47300 levels.

Trading Strategy

Sell Bank Nifty Future below 47700 with a stop loss above 48000 for the downside movement till 47450—47300 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

Stock Pick of the Day

ZEEL (03/04/2024)

Buy ZEEL around 153 for the upside move till 158 and then to 160 levels in the coming days. Stop loss below 149.       

Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends.

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