Will Nifty break 16900 or any sharp recovery will come?

EQUITY BULLETIN FOR 27 JAN 2022

Nifty Futures

Nifty has resistance around 17300 if it breaks and sustains above 17300 will see an upside rally till 17450---17500 levels in an intraday session.

Else Nifty has support around 17100, breaks below 17100 will see intraday fall till 16900---16850 levels. For positional traders, 16900 will be the crucial support. If close below 16900 then we will see another free fall till 16600-16400 levels.

Trading strategy

Traders can buy Nifty Future around 17200 with a stop loss below 17100 levels for an upside movement till 17450---17500 levels in an intraday session.

Bank Nifty Futures

Bank Nifty has resistance around 37800, breaks and sustains above 37800 will see an upside movement till 38300--38500 levels in an intraday session.

Otherwise, Support around 37250, breaks below 37250 will see an intraday downside fall till 36900---36700 levels.

Trading Strategy

Traders can buy Banknifty Future around 37500 with a stop loss below 37250 for an upside movement till 38300---38500 levels in an intraday trading session.

Stock Pick of the day

Buy KAJARIACER around 1230 levels, stop loss below 1175 levels, for an upside movement till 1300 +++ levels in the coming days.

*T&C Apply...