Overall Sentiments are on Negative Side after FOMC Statement...

EQUITY BULLETIN FOR 17 AUGUST 2023

Nifty Futures

Nifty Futures recovered all intraday losses and closed in the green in the last trading session. Now Nifty Futures has near support around 19380 and upside near hurdle around 19500 levels. Break above 19500 will see an upside move till 19600-19650 levels in the upcoming trading session.

On the other side, Nifty has immediate support around 19400 levels, break and sustain below 19400 will see a downside fall till 19300 levels.

Trading strategy

Traders Sell Nifty Future below 19400 with a stop loss above 19500 levels for the downside movement till 19300— 19250 levels.

Bank Nifty Futures

Bank Nifty futures bounced well and formed a positive reversal candle in the last trading session. Bank Nifty has near resistance around 44200, breaks and sustains above 44200 will see an upside movement till 44400-44500 levels.

On the lower side, Bank Nifty has a major support around 43800, break and sustain below 43800 will see a fresh downfall fall till 43500 levels.

Trading Strategy

Traders can Sell Bank Nifty Future below 44000 with a stop loss above 44200 for the downside movement till 43800—43600 levels in an intraday trading session.

Stock Pick of the day

PAYTM

Buy Paytm above 890 for the upside move till 940 and then to 960 levels in the coming days. Stop loss below 850.

*T&C Apply…