Will the market reverse from these levels?

EQUITY BULLETIN FOR 19 APRIL 2022

Nifty Futures

Nifty formed a green doji after a gap-down opening in the last trading session. Now Nifty has resistance around 17300 if it breaks and sustains above 17300 will see an upside rally till 17420 — 17500 levels in an intraday session.

Nifty has support around 17100, an break below 17100 will see intraday downside fall till 17000 — 16950 levels in an intraday session.

Trading strategy

Traders can buy Nifty Future above 17300 with a stop loss below 17150 levels for an upside movement till 17420 — 17500 levels in an intraday session.

Bank Nifty Futures

Bank Nifty has given a small recovery from lower levels in the last trading session. Bank Nifty has resistance around 37100, breaks and sustains above 37100 will see an upside movement till 37350–37500 levels in an intraday session.

Otherwise, Support around 36550, breaks below 36550 will see an intraday downside fall till 36300 levels in an intraday session.

Trading Strategy

Risky traders can buy Banknifty Future around 36750 with a stop loss below 36550 for the upside movement till 37000—37250 levels in an intraday trading session.

Stock Pick of the day

BSOFT

Buy Hindcopper above 122.50 for the upside move till 125.50 and then to 128 levels in the coming days. Stop-loss above 119.

*T&C Apply…