Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is at 24883-24929 while the big registration is on 24977-25021/25119. The first base is on 24661-24733 while the big base is on 24551/24573-24617.
Virendra Kumar further said that the first was between the base and the first registration, the name of the expiry writers. Selling and shopping on the first base did a good job. FIIS sold the index, the June series started with 77963 shorts, much higher than before. Heavy call writing on 24800, 25000, 25100, 24500 and 24800 zones are getting heavy put writing.
He further said that buy above the first base, below 24661-24650 can be 20 dema @ 24617, 24550, 24510 tests. If you cross 24883-24929 at the top, then 24977/25021 can be found. Call writers will be badly trapped above 25029, then 25119-25153 can be found.
Strategy on Nifty Bank
Virendra Kumar said that the first registration is on 55686-55757 while the big registration is on 55918-56067/56256. The first base is at 54943 (20DEMA)/55045-55233 while the big base is on 54589-54709.
Virendra Kumar further said that from 55200-55050, buyers/risks took 500-600 points. Closing found good swing on base-1, showing expiry swing in private banks. A good put OI on 55000-55000, now showed action of put writers on 56000. Put writers are coming at 56000 in-money, the possibility of breakout increased.
Stay long, buy in decline over base-1, see laws deal on resistance-1. The path of 55918-56067 will be opened for long deals above 55757. The technical setup is still good, the big breakout is possible if the 56067 crosses 56067.
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