Positive Opening Will Expect for the Week...

EQUITY BULLETIN FOR 22 APRIL 2024

Nifty Future Overview

Nifty Futures bounced sharply from the major support zone in the last trading session. Now Nifty is heading towards fresh life high and we will expect another bullish session for the day. Nifty futures has near support level of 22000, with near resistance at 22180. A breach and sustained movement above 22180 could propel Nifty towards levels of 22260-22300.

Conversely, a downturn below 22000 may trigger a sharp decline to 21920-21850 levels.

Trading Strategy for Nifty Futures 

Buy Nifty Futures above 22180 mark, with a stop loss set below 22080 for potential upside move to 22260—22320 levels.

Bank Nifty Overview 

Bank Nifty too looks solid and formed a reversal candle at the current levels for the fresh bull run. Now Bank Nifty has near support range around 47200 and resistance at 47750, sustained movement beyond 47750 could lead Bank Nifty towards 48000-48200 levels.

Conversely, a breach below 47200 may drive it down to 47000-46800 levels.

Trading Strategy

Buy Bank Nifty Future around 47400 with a stop loss below 47150 for the upside movement till 47800—48000 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

Stock Pick of the Day

CANBK (22/04/2024)

Buy CANBK above 485 for the upside move till 492 and then to 495 levels in the coming days. Stop loss below 479.       

Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends.

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