Will Nifty Break 18000 or Take U-turn?

EQUITY BULLETIN FOR 06 FEBRUARY 2023

Nifty Futures

Nifty Futures performed well as per our expectations in the last trading session. Now Nifty has near support around 17800 and upside crucial hurdle around 17920 levels. Break above 17920 will see an upside move till 18000-18050 levels in the upcoming trading session. Fresh bull run will expect on a daily close above 18000 levels.

On the other side, Nifty has crucial support around 17800 levels, break and close below 17800 will see a downside fall till 17650-17600 levels.

Trading strategy

Traders can Buy Nifty Future above 17920 with a stop loss above 17800 levels for the upside movement till 18000 — 18050 levels.

Bank Nifty Futures

Bank Nifty looks positive and closed on a bullish note in the last trading session. Bank Nifty has near resistance around 41800, breaks and sustains above 41800 will see an upside movement till 42100-42350 levels.

On the lower side, Bank Nifty has a major support around 41000, break and a daily close below 41000 will see a fresh downfall fall till 40700 levels.

Trading Strategy

Traders can buy Bank Nifty Future on dip around 41400 with a stop loss below 41000 for the upside movement till 41800—42000 levels in an intraday trading session.

Stock Pick of the day

INTELLECT

Buy Intellect above 450 the upside move till 464 and then to 475 levels in the coming days. Stop loss below 435.

*T&C Apply…