Will Nifty Break 20000 level or Take U-turn?

EQUITY BULLETIN FOR 21 JULY 2023

Nifty Futures

Nifty Futures skyrocketed in the last trading session and closed on fresh record highs. Now Nifty has near support around 19800 and upside major hurdle around 20000 levels. Break above 20000 will see a fresh bull run till 20150-20300 levels in the upcoming trading session.

On the other side, Nifty has near support around 19800 levels, break and sustain below 19800 will see a sharp profit booking till 19720-19650 levels.

Trading strategy

Traders can Sell Nifty Future below 19950 with a stop loss above 20040 levels for the downside movement till 19850 — 19800 levels.

Bank Nifty Futures

Bank Nifty successfully achieved our given targets in the last trading session. Bank Nifty has near resistance around 46300, breaks and sustains above 46300 will see an upside movement till 46500 levels.

On the lower side, Bank Nifty has a major support around 45800, break and sustain below 45800 will see a small correction till 45500 levels.

Trading Strategy

Traders can Buy Bank Nifty Future around 45900 with a stop loss below 45650 for the upside movement till 46150—46250 levels in an intraday trading session.

Stock Pick of the day

ASAHI INDIA

Buy Asahi India around 542 for the upside move till 565 and then to 580 levels in the coming days. Stop loss below 520.

*T&C Apply…