No Relief From the Global Front as Weakness Continues...

EQUITY BULLETIN FOR 22 SEPTEMBER 2023

Nifty Futures

Nifty again slipped sharply and closed below the crucial support in the last trading session. Now we are expecting some bounce from the major support of 19680.

Now Nifty Futures has near support around 19680 and upside near hurdle around 19850 levels. Break above 19850 will see an upside move till 19920-19980 levels.

On the other side, Nifty has immediate support around 19680 levels, break and sustain below 19680 will see a downside fall till 19600 levels.

Trading strategy

Traders can Buy Nifty Future around 19690 with a stop loss above 19600 levels for the downside movement till 19780—19820 levels.

Bank Nifty Futures

A sharp fall was witnessed in the Bank Nifty which closed with a huge loss in the last trading session. Bank Nifty has near support around 44500 and near resistance around 45000, breaks and sustains above 45000 will see an upside movement till 45300 levels.

On the lower side, Bank Nifty has major support around 44500, break and sustain below 44500 will see a fresh downfall fall till 44300-44200 levels.

Trading Strategy

Traders can Sell Bank Nifty around 45000 with a stop loss above 45300 for the downside movement till 44700—44600 levels in an intraday trading session.

Stock Pick of the Day

PFOCUS (22/09/2023)

Buy Pfocus around 90 for the upside move till 95 and then to 98 levels in the coming days. Stop loss below 85.

*T&C Apply…