Range Bound Sessions Ahead of Fed Policy...

EQUITY BULLETIN FOR 26 JULY 2023

Nifty Futures

Nifty Futures bounced from the major support level in the last trading session. Now Nifty has immediate support around 19650 and near resistance around 19720 levels. Break above 19720 will see an upside move till 19800 levels and further upside will expect on close above 19800 levels in the upcoming trading session.

On the other side, Nifty has support around 19650 levels, break and an hourly close below 19650 will see a sharp fall till 19550-19500 levels.

Trading strategy

Traders can Buy Nifty Future above 19720 with a stop loss below 19650 levels for the upside movement till 19800 — 19850 levels.

Bank Nifty Futures

Bank Nifty futures corrected well and formed a reversal candle in final hours of the last trading session. Bank Nifty has near resistance around 46000, breaks and an hourly close above 46000 will see an upside movement till 46150-46350 levels.

On the lower side, Bank Nifty has a near support around 45600, break and sustain below 45600 will see a sharp correction till 45400 levels.

Trading Strategy

Traders can Buy Banknifty Future around 45800 with a stop loss below 45600 for the upside movement till 46050—46150 levels in an intraday trading session.

Stock Pick of the Day

Buy AWL above 420 for the upside move till 440 and then to 450 levels in the coming days. Stop loss below 398.

Buy Adanient Futures above 2500 for the upside move till 2545 and then to 2575 levels in the coming days. Stop loss below 2450.

*T&C Apply…