Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is on 23045-23081 while the big registration is 23166 (10DEMA) -23204/264 (20DEMA). The first base is on 22785-22831 while the big base is on 22666/22693-22738.
Virendra Kumar further said that earlier yesterday got a spectacular trade on the base, the first registration was high of the day. Momentum is growing but IT is stopping FMCG Nifty. Getting good push from banks. Fiis selling reduced, FIIS bought the index. While 23000-23100-23200 zone is occupied by call writers. The Nifty’s 10 Dema is on 23166, 20 Dema 23204.
Virendra Kumar further said that sell it in every rally below the first registration. First buy on the base (there is a slight risk), the risk-secure is good. Strengthening/short covering above 23081, if crossed, 23166/23204/23264 is possible. The first base is currently working, if it is broken, you can slip till 22266/22693-22738. Note- Short should be made in FMCG, if 200 Dema is broken in Nifty IT, then there will be pressure.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is on 49819-50004 while the big registration is on 50163-50489/50533. The first base is at 48910-49262 while the big base is at 48510/48651-48784.
Virendra Kumar further said that yesterday there was a spectacular purchase on the base, the first registration also crossed the registration. HDFC Bank, strengthening in Kotak Bank, also reversed in government bank shares. Closing over 10/20 Dema, strong put writing at 49000 zones. 49800-50000 zone was gathered by call writers. 50100/50163 at a large average (200/50 DEma) at the zone.
Virendra Kumar further said that keep an eye on the move of HDFC Bank and ICICI Bank, first the strategy of shopping will work on the base. Shopping will work in the fall on the first base. Secondly, it can become a boom if it stands above 49600-49650. From 49650, it can grow up to 49819-50004 and then 50163.
Stock Market Live Updates: Gift Nifty is giving signs, Indian market can be started
(Disclaimer: The ideas given on Moneycontrol.com have their own personal views. The website or management is not responsible for this. Money control advice to users to seek the advice of the Setted Experts before making any investment decisions.