Nifty strategy for today: Describing the strategy on the Nifty, Virendra Kumar of CNBC-Awaaz said that the first registration is on 23021-23059 while the big registration is on 23154-23248/23312. The first base is at 22777-22847 while the big base is on 22643/22681-22710.
Virendra Kumar further said that yesterday the market was not like trading, there was heavy ups and downs but the closing was good. Closing again got 22800, Nifty Bank also closed over 49000. Yesterday Fiis again sold in cash but did not shorten the index. Yesterday Fiis made a little short covering and added longs. HDFC Bank, public sector banks took some leadership in closing.
He further said that 23000/23100/23200 got a little call writing, a zone of 22700/22800 put writers. Keep a selling view in the rally under the first registration. Short covering up to 23154-23248-23312 is possible above it. Below the first registration can slip up to 22847-22777. First the pullback on the base can take the risk -taking long deal. It is possible to fall from 22710-22681-22643 below 22777.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is on 49361-49528 while the big registration is on 49831-49994/50134. The first base is at 48711-48921 while the big base is on 48297/48391-48501.
Virendra Kumar further said that action was seen in HDFC Bank yesterday, the shares from the lower level of 200 Dema closed above all the averages. SBI and other PSU banks also showed good moves in closing. Strong pullback, short coverings are possible only on the first registration. Put writers are standing at 49000, their trust is maintained.
Sell the data, placement on the first registration according to the placement and the target is the first base at 49000. 49000 The first base is working, pullback is possible from here. Short covering, strength will be above the first registration. Alert: If 48650-48711 is broken then 48501-48391 is possible.
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