New Year 2024 Begins With Record Highs...

EQUITY BULLETIN FOR 1ST JANUARY 2024

Nifty Futures

Nifty Futures unable to breach 22K mark and closed on a negative note in the last trading session. Now, Nifty Futures has near support around 21800 and upside near hurdle around 21950 levels. Break and sustain above 21950 will take it towards 22000 levels and further upside move will expect on close above 22000 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 21800 levels, break and a daily below 21800 will expect a downside till 21730-21680 levels.

Trading strategy

 Traders can Buy Nifty Future around 21780 with a stop loss below 21700 levels for the upside movement till 21860— 21900 levels.

Bank Nifty Futures

Bank Nifty slipped from higher levels but managed to hold its crucial support on the daily chart. We will expect it to breach 49K mark in upcoming sessions. Bank Nifty has near support around 48400 and near resistance around 48800, breaks and sustains above 48800 will see an upside movement till 49000-49200 levels.

On the lower side, Bank Nifty has a near support around 48400, a break and sustain below 48400 will see a fresh downfall fall till 48150-48000 levels.

Trading Strategy

Traders can Buy Bank Nifty on dip around 48250 with a stop loss below 48000 for the upside movement till 48550—48800 levels in an intraday trading session.

Stock Pick of the day

ADANIENT (01/01/2024)

Buy Adanient Future above 2900 for the upside move till 2960 and then to 3000 levels in the coming days. Stop loss below 2845.

*T&C Apply…