Nifty strategy for today: Explaining the strategy on the Nifty, Virendra Kumar of CNBC-Awaaz said the first registration is on 23617-23654 (200/50 DEMA) while the big registration is on 23703-23738/772. The first base is at 23439-23480 (10/20DEMA) while the big base is on 23266/23289-23366.
Virendra Kumar further said that the first registration slipped from the first registration, many times the first and second base came to buy. FIS selling in cash was reduced but the index again shorten, closed between 200 Dema/20 Dema. 23600-23700-23800 zone strongly captured call writers. Now the confidence of the put writers is not visible, now only 10/20 Dema is an important link.
He further said that shopping should be done in every decline over 20 Dema. Change the strategy below the first base (10/20 dema), can go to the second base. Wait for the opening, give some time, if the first base is left, you can go to the first registration. The index is stuck between the average, wait a little, then take a trade, (20 Dema) is important.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is 50492-50642, while the big registration is on 50887-50966/51210. The first base is at 49957-50163 while the big base is on 49387/49576-49682.
Virendra Kumar further said that many shopping trades were found on the first base but the first registration policy was the top of the day (50643). 50500, 51000 zones are seen to have heavy call writing. The zone of put writers at 50000 is. Profits in HDFC Bank, SBI/ICICI became short in bank.
Now some cleanliness is awaited. The first is stuck between the base and the first registration. If the first base or Friday’s lower level is broken, then the second base can slip. The first registration (100 dema) important level, the momentum will increase on top of it. Check every delegation taken on the first basis on the first registration.
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