Will Market Rebound From Here or the Fall Continues...

EQUITY BULLETIN FOR 19 JANUARY 2024

Nifty Futures

Nifty Futures again dragged from the previous days lows but nicely recovered in thr second half. We will expect a short covering in Nifty in upcoming sessions.

Now, Nifty Futures has near support around 21480 and upside near hurdle around 21650 levels. Break and sustain above 21650 will take it towards 21720-21760 levels.

On the other side, Nifty has near support around 21480 levels, break and sustain below 21480 will expect a downside fall till 21400-21350 levels.

Trading strategy

  Traders can Buy Nifty Future above 21600 with a stop loss below 21480 levels for the upside movement till 21700— 21740 levels.

Bank Nifty Futures

Bank Nifty too slipped sharply and closed on a negative note in the last trading session. Bank Nifty has next support around 45600 and near resistance around 46100, breaks and sustains above 46100 will see an upside movement till 46400-46600 levels.

On the lower side, Bank Nifty has a next support range around 45600, a break and sustain below 45600 will see a fresh downfall fall till 45300-45500 levels.

Trading Strategy

Buy Bank Nifty above 46100 with a stop loss below 45800 for the upside movement till 46400—46600 levels in an intraday trading session.

Stock Pick of the day

PERSISTENT (19/01/2024)

Buy PERSISTENT above 7850 for the upside move till 8000 and then to 8100 levels in the coming days. Stop loss below 7700.

*T&C Apply…