Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is on 23679-23709 while the big registration is on 23751-23782/805. The first base is on 23490-23528 while the big base is on 23377-23427.
Virendra Kumar further said that yesterday, breaking 50 DEMA and slipping up to 200 Dema, pressure from FIIS, there was a clear profit booking. 200 closed on Dema, now 20/10 DEMA reached 23458/23427. 23600-23700-23800 zone should be triggered to cross, capture call writers. Heavy put writing on 23500-23600, 10/20 Dema is at 23427-377 zone.
Virendra further said that Day Traders should trade only after the policy, the policy will come after cleaning. The first is of the base put writers, 10/20 Dema on the second, the last zone of purchasing in the fall is 23427. Watch the entire momentum of fast, fickle short, see opportunities at the bottom of 23427. 23679-23709 The upper zone, if crossed, can get 23709/23751/23805. The pre-policy range looks 23490-23528-23600.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is on 50518-50643 while the big registration is on 50888-51047/51364. The first base is at 49957-50163 while the big base is on49576-49682.
Virendra Kumar further said that the strengthening of pre-policy bank shares, 50/200 Dema did support for support. Long is connected in all big private banks. HDFC Bank, ICICI Bank, Axis Bank, Kotak Bank joined long. After Q3 numbers, shorting in SBI looked quite visible. The big base for Nifty Bank is at 50000.
Virendra Kumar further said that buy every decline till the first base, there is a big average and put placement. There is no place for despair, will slip at 49756 below 49957. 50518-50643 Upper range, 50643 crosses 50888/51047/51364.
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