Nifty Closed at Record Highs and Bank Nifty Eyes on 48K Mark...

EQUITY BULLETIN FOR 21 FEBRUARY 2024

Nifty Future Overview

As expected Nifty again made a fresh lifetime high and again closed at all all-time high in the last trading session. Today we will expect some profit booking but buy on dips will be the best opportunity for the traders.

Now, Nifty Future has near support around 22140 and upside near hurdle around 22250 levels. Break and sustain above 22250 will take it towards 22300-22340 levels.

On the other side, Nifty has near support around 22140 levels, break and sustain below 22140 will expect a downside fall till 22080-22020 levels. Buy on dips around support will be the best strategy for the traders.

Trading strategy

Traders can Buy Nifty Futures on dip around 22050 with a stop loss below 21950 levels for the upside movement till 22140— 22200 levels.

Bank Nifty Overview

Bank Nifty performed well and achieved our intraday targets in the last trading session. We will expect more upside in upcoming sessions. Bank Nifty future has near support around 46900 and near resistance around 47250, breaks and sustains above 47250 will see an upside movement till 47400-47500 levels.

On the lower side, Bank Nifty has a near major support around 46900, a break and sustain below 46900 will see a downside fall to 46750-46600 levels. Any sharp dip will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future on dip around 46950 with a stop loss below 46600 for the upside movement till 47300—47500 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

TATA STEEL (21/02/2024)

Buy Tata Steel Futures on dip 141 for the upside move till 144 and then to 146 levels in the coming days. Stop loss above 138.

*T&C Apply…