Volatility on Its Peak in Today's Session...

EQUITY BULLETIN FOR 24 JANUARY 2024

Indian Indices are in full volatile mode and both side movements are on in today's session. We will expect more volatility in upcoming sessions till the Budget.

Nifty Overview

Nifty witnessed a short covering in the opening hour but erased all intraday gains and moving on a flat note. We will expect more volatility in upcoming sessions.

Now, Nifty Spot has near support around 21180 and upside near hurdle around 21300 levels. Break and sustain above 21300 will take it towards 21380-21450 levels.

On the other side, Nifty has near support around 21180 levels, break and sustain below 21180 will expect a downside fall till 21100-21050 levels.

Trading strategy

Traders can Buy Nifty above 21300 with a stop loss below 21200 levels for the upside movement till 21380— 21450 levels.

Bank Nifty Overview

Bank Nifty slipped 1000 points from the day's high and approaching towards day's low. Bank Nifty has next support around 44500 and near resistance around 45000, breaks and sustains above 45000 will see an upside movement till 45200-45400 levels.

On the lower side, Bank Nifty has a next support range around 44500, a break and sustain below 44500 will see a fresh downfall fall till 44300-44200 levels.

Trading Strategy

Buy Bank Nifty above 45000 with a stop loss below 44700 for the upside movement till 45250—45400 levels in an intraday trading session.

Stock Pick of the day

MTNL (24/01/2024)

Buy MTNL around 39 for the upside move till 42 and then to 44 levels in the coming days. Stop loss below 37.

*T&C Apply…