Short Covering Helps Market to Close in Green...

EQUITY BULLETIN FOR 15 MARCH 2024

Nifty Future Overview

A sharp short covering was noticed on the weekly expiry and closed on a positive note in the last trading session. Now we will expect both side move in upcoming sessions.

Now, Nifty futures has near support around 22180 and an upside near hurdle around 22350 levels. Break and sustain above 22350 will take it towards 22430-22500 levels.

On the other side, Nifty has near support around 22180 levels, break and sustain below 22180 will expect a downside fall till 22100-22050 levels. Sell on rise around resistance will be the best opportunity for the day traders.

Trading strategy

Traders can Sell Nifty Futures around 22300 with a stop loss above 22400 levels for the downside movement till 22220— 22150 levels.

Bank Nifty Overview

Bank Nifty erased all intraday gains and closed on a flat note in the last trading session. Bank Nifty's future has near major around 46800 and near resistance around 47300, breaks and sustains above 47300 will see an upside movement till 47600-47800 levels.

On the lower side, Bank Nifty has a near major support around 46800, a break and sustain below 46800 will see a downside fall to 46600-46500 levels.

Trading Strategy

Sell Bank Nifty Future below 46800 with a stop loss above 47100 for the downside movement till 46600—46400 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

TATA STEEL (15/03/2024)

Buy Tata Steel on dip around 141.50 for the upside move till 144.50 and then to 146 levels in the coming days. Stop loss below 138.  ***T&C Apply...