Nifty Set for Upside Move, Bank Nifty Shows Resilience after Support Bounce

EQUITY BULLETIN FOR 11 JULY 2023

Nifty Futures

Nifty Futures again performed well as per our expectations in the last trading session. Now Nifty has immediate support around 19350 and upside resistance around 19500 levels. Break above 19500 will see an upside move till 19560-19600 levels in the upcoming trading session.

On the other side, Nifty has support around 19350 levels, break and an hourly close below 19350 will see a sharp fall till 19300-19250 levels.

Trading strategy

Traders can Buy Nifty Future around 19300 with a stop loss below 19240 levels for the upside movement till 19380 — 19430 levels.

Bank Nifty Futures

Bank Nifty bounced sharply from the crucial support of 44800 in the last trading session. Bank Nifty has near resistance around 45100, breaks and an hourly close above 45100 will see an upside movement till 45300-45450 levels.

On the lower side, Bank Nifty has a near support around 44800, break and sustain below 44800 will see a sharp correction till 44600-44500 levels.

Trading Strategy

Traders can Buy Banknifty Future above 45100 with a stop loss below 44950 for the upside movement till 45300—45450 levels in an intraday trading session.

Stock Pick of the day

GICRE

Buy GICRE above 192 for the upside move till 200 and then to 208 levels in the coming days. Stop loss below 184.

*T&C Apply…