Nifty Still Looks Solid and Bank Nifty Eyes on Fresh Life High...

EQUITY BULLETIN FOR 05 MARCH 2024

Nifty Future Overview

Indian Stock Market still looks solid for the fresh life highs and again closed on a bullish note in the last trading session. Now, we will expect another record high in upcoming trading sessions.

Now, Nifty has near support around 22450 and an upside near hurdle around 22550 levels. Break and sustain above 22550 will take it towards 22620-22700 levels.

On the other side, Nifty has near support around 22450 levels, break and sustain below 22450 will expect a downside fall till 22400-22350 levels. Any sharp dip will be a buying opportunity for the traders

Trading strategy

Traders can Buy Nifty Futures on dip around 22420 with a stop loss below 22300 levels for the upside movement till 22540— 22600 levels.

Bank Nifty Overview

Bank Nifty again performed well and formed a perfect setup for the fresh bull run in the last trading session. We will expect a fresh breakout in upcoming sessions. Bank Nifty's future has near major around 47400 and near resistance around 47800, breaks and sustains above 47800 will see an upside movement till 48000-48200 levels.

On the lower side, Bank Nifty has a near major support around 47400, a break and sustain below 47400 will see a downside fall to 47200-47000 levels. Any sharp dip around support will be a good opportunity for the traders.

Trading Strategy

Buy Bank Nifty Future on dip around 47500 with a stop loss below 47200 for the upside movement till 47800—48000 levels in an intraday trading session.

Trade cautiously with levels only.

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BHARATFORG (05/03/2024)

Buy Bharatforg above 1200 for the upside move till 1225 and then to 1240 levels in the coming days. Stop loss above 1175.