Nifty Still Looks Solid on Charts, Keep an Eye on IT Sector...

EQUITY BULLETIN FOR 08 DECEMBER 2023

Nifty Futures

Nifty Futures took a halt near the all-time high in the last trading session. Now Nifty Futures has near support around 20950 and upside near hurdle around 21100 levels. Break above 21100 will see an upside move till 21160-21220 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 20950 levels, break and sustain below 20950 will see a small correction till 20880 levels. More downside will expect on close below 20880 levels.

Trading strategy

Traders can Buy Nifty Future on dip around 20900 with a stop loss below 20840 levels for the upside movement till 21020— 21080 levels.

Bank Nifty Futures

Bank Nifty recovered sharply after a small correction and again closed on a bullish note in the last trading session. Bank Nifty has near support around 46800 and near resistance around 47150, breaks and sustains above 47150 will see an upside movement till 47300-47450 levels.

On the lower side, Bank Nifty has a near support around 46800, break and sustain below 46800 will see a fresh downfall fall till 46600-46400 levels.

Trading Strategy

Traders can enter on dips around 46900 with a stop loss below 46600 for the upside movement till 47200—47400 levels in an intraday trading session.

Stock Pick of the day

SJVN (08/12/2023)

Buy SJVN on dips around 89 for the upside move till 94 and then to 97 levels in the coming days. Stop loss below 85.

*T&C Apply…