Midcap Mantra: – At present, Sensex and Nifty were seen trading in the market in a strong decline. The Sensex saw a recession of more than 1120 points and more than 330 points in the Nifty. Talking about midcap shares, the IT sector saw an Axiscads, KPIT Technology, Sonata Soft and Birla Soft by 4 to 5 percent. At the same time, Varun Beverages, Emami, Godrej Agroat and Jyoti Lab saw a weakness of 3 to 5 percent in the FMCG sector. In NBFC, shares of PB Fintech, PAPC, IFCI and Creditxes were seen in red mark. While the Below was seen in the Realty sector’s Oberoi Realty, Godrej Properties, Finix Mill and Sobha. Meanwhile today at the Midcap Mantra of CNBC-Awaaz Ashish Kayal of wavesstrategy.com Told some good stocks for trading in the moving market. He gave his opinion on the market today to bet till market closing.
Wavesstrategy.com’s Ashish Kayal’s opinion on Nifty
Ashish Kayal of wavesstrategy.com said that there is weakness in the market. The support level of the Nifty was at the level of 23180, the index has also broken this support level. There is a round of selling here. If you look at the advanced decline ratio, it has been seen to be very impaired for two days. Not a single candle on the Everali Base has been closed over the previous high. This shows that the trend that is still negative.
If the Nifty wants a little stability here, then she will have to cross the level of 23300. If we look at the option data, the put sellers on 23000 here are still active. So we believe that perhaps the index can save the level of 23000. But if this level is also brake, there will be fast selling in the market.
Until the level break of 23300 on the top, it should adopt the strategy of the cell on rise. In this, you can adopt a selling strategy for target of 2320.
Wavesstrategy.com’s Ashish Kayal’s opinion on Bank Nifty
Talking about the bank Nifty, even today, selling pressers are being seen in it. It has seen a decline of about 600 points. It is showing resistance at 49750 upwards. Selling pressers will be seen in it until the bank Nifty breaks upwards. In this, support is seen at the level of 49200. From here it has to be seen whether Market goes back up or not. Apart from this, the midcap and smallcap should be kept in mind where a lot of beating has been seen today.
Ashish Kayal Favorite Stocks of Wavesstrategy.com
Tata Communication Future: Sell – Rs 1523, Target – Rs 1410, Stoploss – Rs 1570
Welspun Corp Future: Buy – Rs 784, Target – Rs 850, Stoploss – Rs 765
(Disclaimer: The ideas and investment advice on Moneycontrol.com have their own personal views and opinions. Moneycontrol advises users to consult certified experts before making any investment decisions.)