Nifty at All-Time Highs and Still Looks Bullish...

EQUITY BULLETIN FOR 04 DECEMBER 2023

Nifty Futures

Nifty Futures again made a fresh lifetime high and closed on a record high in the last trading session. Now Nifty Futures has near support around 20280 and upside near hurdle around 20440 levels. Break above 20440 will see an upside move till 20500-20520 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 20280 levels, break and sustain below 20280 will see a small correction till 20200 levels. More downside will expect on close below 20200 levels.

Trading strategy

Traders can Buy Nifty Future around 20290 with a stop loss below 20200 levels for the upside movement till 20360— 20420 levels.

Bank Nifty Futures

Bank Nifty too breach its major resistance and closed on a bullish note in the last trading session. Bank Nifty has near support around 44700 and near resistance around 45200, breaks and sustains above 45200 will see an upside movement till 45400-45550 levels.

On the lower side, Bank Nifty has a near support around 44700, break and sustain below 44700 will see a fresh downfall fall till 44500-44400 levels.

Trading Strategy

Traders can enter on dips around 44700 with a stop loss below 44400 for the upside movement till 45100—45200 levels in an intraday trading session.

Stock Pick of the day

BOROLTD (04/12/2023)

Buy BOROLTD above 426 for the upside move till 444 and then to 455 levels in the coming days. Stop loss below 408.

*T&C Apply…