Weak Opening Will Expect For the Day Amid Weak Handover From Global Markets...

EQUITY BULLETIN FOR 25 APRIL 2024

Nifty Future Overview

After a gap-up opening Nifty performed well but erased all gains in the last trading session. Now we will expect both side volatility on monthly expiry. Nifty futures currently moving above the near support level of 22450, with near hurdle around 22550. A breach and sustained movement above 22550 could propel Nifty towards levels of 22630-22660. Conversely, a downturn below 22450 may trigger a sharp decline to 22380-22350 levels. Buy on dips around support will be a buying opportunity for the traders.

Trading Strategy for Nifty Futures   Traders are advised to consider selling Nifty Futures below 22500 mark, with a stop loss set above 22600 for potential targets up to 22420—22350 levels.

Bank Nifty Overview   Bank Nifty again closed on a bullish note and formed a bullish pattern on the daily chart. Now Bank Nifty has near support range around 48000 and resistance at 48500, sustained movement beyond 48500 could lead Bank Nifty towards 48700-48800 levels. Conversely, a breach below 48000 may drive it down to 47800-47600 levels. Trading Strategy

Buy Bank Nifty Future around 48000 with a stop loss below 47700 for the upside movement till 48300—48500 levels in an intraday trading session.

In conclusion, traders are advised to remain vigilant amidst market fluctuations and capitalize on strategic entry and exit points to optimize their trading endeavors.

Stock Pick of the Day

BHEL (25/04/2024)

Buy BHEL May above 265 for the upside move till 270 and then to 273 levels in the coming days. Stop loss below 262.         Stay tuned for further insights and updates from Millennial Investor Services - Your Trusted Stock Market Advisory Partner.  Stock market analysis, Nifty futures, Bank Nifty, Trading strategies, Market volatility, Financial year-end, Technical analysis, Support and resistance levels, Trading opportunities, and Market trends. ***T&C Apply...