Nifty Again Heading Towards 22K Mark...

EQUITY BULLETIN FOR 07 FEBRUARY 2024

Nifty Future Overview

Nifty bounced sharply from the lower levels and again achieved our downside targets successfully in the last trading session. We will expect Nifty to achieve 22K mark again in upcoming sessions.

Now, Nifty Future has near support around 21900 and upside near hurdle around 22050 levels. Break and sustain above 22050 will take it towards 22120-22150 levels.

On the other side, Nifty has near support around 21900 levels, break and sustain below 21900 will expect a downside fall till 21840-21750 levels.

Trading strategy

Traders can Buy Nifty Futures on around 22000 with a stop loss below 21900 levels for the downside movement till 22100— 22150 levels.

Bank Nifty Overview

Bank Nifty too looks positive on the charts and closed on a good note in the last trading session. Bank Nifty has next support around 45850 and near resistance around 46200, breaks and sustains above 46200 will see an upside movement till 46400-46600 levels.

On the lower side, Bank Nifty has a next support around 45850, a break and sustain below 45850 will see a downside fall till 45700-45500 levels.

Trading Strategy

Buy Bank Nifty Future on dip above 46200 with a stop loss below 45900 for the upside movement till 46450—46600 levels in an intraday trading session.

Stock Pick of the day

SBIN (07/02/2024)

Buy SBIN future above above 660 for the upside move till 670 and then to 678 levels in the coming days. Stop loss below 550.

*T&C Apply…