Short covering will expect for another session...

EQUITY BULLETIN FOR 27 MAY 2022

Nifty Futures

Nifty recovered sharply from lower levels in the last trading session. Now Nifty has resistance around 16250 if it breaks and sustain above 16250 will see an upside rally till 16340 — 16400 levels in an intraday session.

On the other side, the Nifty has major support around 16000, a break and close below 16000 will see a downside fall till 15900 —15850 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future above 16250 with a stop loss below 16100 levels for the upside movement till 16340 — 16400 levels in an intraday session.

Bank Nifty Futures

Bank Nifty has given a sharp positive move in the last trading session. Bank Nifty has resistance around 35500, breaks and sustains above 35500 will see an upside movement till 35750-36000 levels in an intraday session.

Otherwise, major support around 34800, breaks below 34800 will see a fresh downside fall till 34600-34400 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future around 35000 with a stop loss below 34700 for the upside movement till 35400—35600 levels in an intraday trading session.

Stock Pick of the day

VEDL

Buy VEDL above 315 for the upside move till 327 and then to 335 levels in the coming days. Stop loss below 300.

*T&C Apply…