CNBC-Awaaz managing editor Anuj Singhal Said said yesterday, after a long time, the market appeared bright. The Nifty may be down but the market was fantastic. A good rally was held in the bank Nifty yesterday. But yesterday was a recovery for portfolio investors. It looked good to see the screen yesterday. Yesterday, there was some ointment on the pain. But at least 7-8 days like tomorrow. Nifty once again rescued 22,800.
Market: What from here now?
Anuj Singhal said that if you meet 3-4 days more tomorrow, trust will return. But the problem is that this has happened before. Even before this, there was a rally which failed badly. Therefore, do not buy too much. The big trend is still very negative but yesterday a good thing happened, one -sided selling stopped. FIIS also selling has also reduced considerably. Bank Nifty, especially HDFC Bank has shown power. Nifty IT 200 is very close to Dema, keep an eye on it.
Market: What is a big trend now?
Anuj Singhal said that there is no major signal for the market from now. Keep an eye on the global market and FII trend from here. Fiis’ selling speed has decreased slightly. If shorts stop making money, covering can occur. Now the new decline will happen only when the Nifty is closed below 22,800. There are 2 trades working in the Nifty. The first where the rally fails failed and the second was purchased by the Intrade covering near 22,800. For the sixth time yesterday, Nifty rescued 22,800 in Intra-Day, but there was a difference in yesterday’s trade: yesterday the market breadth was good. In this whole decline, for the first time yesterday got such a good breadth.
Strategy on Nifty
Anuj Singhal said that the first support is at 22,800-22,850 while the most important support is at 22,725-22,800. Once again, there is more important closing than opening. 22,800 is happening repeatedly. It will have to be seen when the bulls are able to save 22,800. If 22,800 is broken on closing basis, the sentiment will deteriorate badly. The first registration is at 23,000-23,050 while the first registration is at 23,150-23,200.
Strategy on Nifty Bank
Anuj Singhal said that the first support for bank Nifty is at 49,100-49,300 while major support is at 48,800-49,000. At the same time, the first registration is at 49,600-49,800 while the big registration is at 49,900-50,200. This week HDFC Bank is 2% above. If HDFC bank rises, a rally can be made in Nifty Bank. Today, there can be a chance of shopping in the fall.
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