Profit Booking is On From Higher Levels...

EQUITY BULLETIN FOR 09 FEBRUARY 2024

Nifty Future Overview

Nifty dragged sharply after the RBI policy and closed with a loss of 212 points in the last trading session. We will expect more profit booking from higher levels in upcoming sessions.

Now, Nifty Future has near support around 21750 and upside near hurdle around 21950 levels. Break and sustain above 21950 will take it towards 22040-22100 levels.

On the other side, Nifty has near support around 21750 levels, break and sustain below 21750 will expect a downside fall till 21680-21600 levels.

Trading strategy

Traders can Sell Nifty Futures on rise around 21930 with a stop loss above 22020 levels for the downside movement till 21810— 21750 levels.

Bank Nifty Overview

Bank Nifty performed well and achieved our intraday targets in the last trading session. Bank Nifty has next support around 45000 and near resistance around 45650, breaks and sustains above 45650 will see an upside movement till 45800-46000 levels.

On the lower side, Bank Nifty has a next support around 45000, a break and sustain below 45000 will see a downside fall till 44800-44600 levels.

Trading Strategy

Sell Bank Nifty Future on rise around 45500 with a stop loss above 45800 for the downside movement till 45250—45100 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

MCDOWELL (09/02/2024)

Buy MCDOWELL future above 1090 for the upside move till 1108 and then to 1125 levels in the coming days. Stop loss below 1070.

*T&C Apply…