Nifty is heading towards 17000 levels...

EQUITY BULLETIN FOR 03 JUNE 2022

Nifty Futures

A strong bull run will expect for the day. Now Nifty has resistance around 16700 if it breaks and sustains above 16700 will see an upside rally till 16800 — 16850 levels in an intraday session.

On the other side, the Nifty has near support around 16550, break and close below 16550 will see a downside fall till 16400 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future on dips around 16650 with a stop loss below 16550 levels for the upside movement till 16780 — 16850 levels in an intraday session.

Bank Nifty Futures

Bank Nifty again looks strong and ready for a fresh breakout. Bank Nifty has resistance around 36000, breaks and sustains above 36000 will see an upside movement till 36350-36500 levels in an intraday session.

Otherwise, near support around 35500, breaks below 35500 will see a fresh downside fall till 35300-35100 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future above 36000 with a stop loss below 35750 for the upside movement till 36300—36400 levels in an intraday trading session.

Stock Pick of the day

Tata Power

Buy Tata Power above 235 for the upside move till 240 and then to 244 levels in the coming days. Stop loss below 229.

*T&C Apply…