Nifty Heading Towards Fresh High and Sensex Eyes on 73K Mark...

EQUITY BULLETIN FOR 16 FEBRUARY 2024

Nifty Future Overview

Nifty again performed well and achieved our intraday targets successfully in the last trading session. Now we will expect further upside towards life-high 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 22120-22180 levels.

On the other side, Nifty has near support around 21900 levels, break and sustain below 21900 will expect a downside fall till 21800 levels. Buy on dips around support will be the best strategy for the traders.

Trading strategy

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

Bank Nifty Overview

Bank Nifty doing well as per our expectations from the past couple of sessions. Bank Nifty will lead the next rally towards a life-high. Bank Nifty future has near support around 46000 and near resistance around 46500, breaks and sustains above 46500 will see an upside movement till 46700-46800 levels.

On the lower side, Bank Nifty has a near major support around 46000, a break and sustain below 46000 will see a downside fall to 45800 levels. Any sharp dip will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future above 46500 with a stop loss below 46200 for the upside movement till 46750—46900 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

RBA (16/02/2024)

Buy RBA around 108 for the upside move till 114 and then to 118 levels in the coming days. Stop loss above 103.50.

*T&C Apply…