Strong Opening Will Expect in Nifty and Bank Nifty Amid Supportive Inflation Data...

EQUITY BULLETIN FOR 13 MARCH 2024

Nifty Future Overview

Roller Coaster ride was noticed in Nifty and closed on a flat note in the last trading session. Now we will expect a sharp bounce for the day amid supportive US inflation data.

Now, Nifty futures has near support around 22350 and an upside near hurdle around 22520 levels. Break and sustain above 22520 will take it towards 22580-22620 levels.

On the other side, Nifty has near support around 22350 levels, break and sustain below 22350 will expect a downside fall till 22280-22250 levels. Sell on rise around resistance will be the best opportunity for the day traders.

Trading strategy

Traders can Buy Nifty Futures above 22500 with a stop loss below 22400 levels for the upside movement till 22580— 22620 levels.

Bank Nifty Overview

Bank Nifty too witnessed both side movement and closed on a flat note in the last trading session. Bank Nifty's future has near major around 47400 and near resistance around 47750, breaks and sustains above 47750 will see an upside movement till 48000 levels.

On the lower side, Bank Nifty has a near major support around 47400, a break and sustain below 47400 will see a downside fall to 47100-47000 levels.

Trading Strategy

Buy Bank Nifty Future above 47750 with a stop loss below 47400 for the upside movement till 48000—48200 levels in an intraday trading session.

Trade cautiously with levels only.

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