Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is on 23041-23109 while the big registration is on 23202-232267/23292. The first base is at 22789-22845 while the big base is on 22653/22691-22741.
Due to Fiis, selling came again and selling in the rally is working. Fiis sold all -round. Sold both cash, index. Now the index short is 1.89 lakhs. There was some short coverings in the last hour, managed to hold 22800. Heavy call writing on 23000-23100-23200, short-term coverage on 23200-23300. The highest put writing on 22800, followed by putting on 22500.
Virendra Kumar further said that sell the figures, according to the average placement and sell it at every rally below 23041-23109. A little short coverings above 23109 are possible up to 23202-23267. In 22800 put, check the most OI, each short trade on 22789-22845. Zones will be opened up to 22653-22691 below 22789.
Strategy on Nifty Bank
Virendra Kumar said the first registration 49379-49571 (10/20dema)
While the big registration is at 49896-50059/50141. The first base is at 48690-48810 while the big base is at 48373/48162-48511.
Virendra Kumar further said that except ICICI Bank, all banks joined shorts. Call writers at 49000-49500 zone but put writers are still at 49000. There will be two possibilities of long. 1- Above the first registration, 2- at the reversal from the base. Sell under the first registration and sell in every rally. The first target of 48690-48810 was 48373/48162-48511.
Bank Nifty will have 48690 important levels below. Light short covering up to 49896/50059 above 49571 (10/20 Dema) is possible.
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