Talking about further market movements Anuj Singhal, Managing Editor of CNBC-Awaaz Said that the real test of the market will start from today. FII volumes will start normalizing from today. FIIs volumes yesterday were just 10% of normal. Yesterday the market saved very important levels. Nifty is making a lower level around 23,500 since 2 days. Bank Nifty is making low at 200 DMA since 3 days. FII shorts are now at all-time highs. FII shorts are now at all-time highs. The last time FIIs were so short was in early June. If the market gets any trigger then the covering will be huge. But the big question is where will the trigger come from? The trigger will come from the results or from the budget.
Nifty: New thinking every day
Anuj Singhal said that do not think too far right now. This market is about entering with a new thought every day. Trade not only every day but every hour, looking at the risk-reward. Investors are getting a great opportunity to buy more good shares. If you are afraid of volatility then this market is not for you. There may be strong fluctuations in the market for the next one month. The two important levels to keep in mind in Nifty are 23,460 and 23,250. 23,460 was the December low and 23,250 was in November. One hope will be that Nifty will not break 23,250. If 23,250 is broken then it will become quite bearish. The 2 levels above are very important. First of all, it is necessary to close above 200 DMA of 23,880. For big covering, it is necessary to close above 20 DEMA of 24,200. There will be no confidence in any rally unless it closes above 24,200.
Investment strategy for 2025?
Momentum investing dominated the last two years. (Buy At Any Price) BAAP strategy is not working anymore. Growth At Right Price (GARP) strategy will work this year. This year stock selection is based only on results. Where both results and valuation are comfortable, make big purchases. Do not invest too much of your money in Hope trade. Voda Idea was the biggest accident of 2024, stay away from such stocks.
strategy on nifty
Anuj Singhal said that the first support is at 23,550-23,600 (yesterday’s low) while the major support is at 23,450-23,500 (Option Data). The first resistance is at 23,850-23,950 (Option Zone, 200 DMA) while the major resistance is at 24,000-24,100 (Psychological). Will have to see how FIIs work after returning from vacation. If 23,650 is left then buy and place SL at 23,550.
strategy on nifty bank
Bank is saving Nifty 200 DMA since 3 days. Keep an eye on HDFC Bank and ICICI Bank today. Especially ICICI Bank is becoming very weak. First support is at 50,500-50,600 (200 DMA) while major support is at 49,800-50,000 while first resistance is at 51,300-51,400 (Yesterday’s high). Major resistance lies at 51,450-51,700 (10 and 20 DEMA). Buy only when 200 DMA is held and SL is placed at 50,350.
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