Weekly Open Will Expect on a Positive Note...

EQUITY BULLETIN FOR 12 FEBRUARY 2024

Nifty Future Overview

Nifty unable to sustain at lower levels and bounced sharply in the last trading session. Nifty formed a positive reversal candle which indicates the upside reversal in upcoming sessions.

Now, Nifty Future has near support around 21750 and upside near hurdle around 21900 levels. Break and sustain above 21900 will take it towards 22000-22050 levels.

On the other side, Nifty has near support around 21750 levels, break and sustain below 21750 will expect a downside fall till 21680-21600 levels.

Trading strategy

Traders can Buy Nifty Futures above 21900 with a stop loss below 21800 levels for the upside movement till 21980— 22050 levels.

Bank Nifty Overview

Private Banks inject fuel in the Bank Nifty for a bullish move in the last trading session. Bank Nifty has next support around 45500 and near resistance around 46200, breaks and sustains above 46200 will see an upside movement till 46400-46500 levels.

On the lower side, Bank Nifty has a next support around 45500, a break and sustain below 45500 will see a downside fall till 45300-45200 levels.

Trading Strategy

Buy Bank Nifty Future on dip around 45600 with a stop loss below 45300 for the upside movement till 45900—46200 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

ADANI PORTS (12/02/2024)

Buy ADANI PORTS future above 1300 for the upside move till 1325 and then to 1340 levels in the coming days. Stop loss below 1278.

*T&C Apply…