Nifty strategy for today: Stating strategy on Nifty Virendra Kumar of CNBC-Awaaz Said the first registration is at 25669-25709 while the big registration is on 25766-25789/25848. The first base is on 25466-25513 while the big base is on 25358-25409.
Virendra Kumar further said that after crossing 242890-319 yesterday, all the goals above were achieved and also went on. FIIS’s cash shopping, index short covering, Momentum, Net Short was 34967. The Nifty had a strong rollover of 80%, increased from 149 lakh OI to 162 lakh OI.
He further said that a strong weekly put writing was seen at 25500-400-300 while the base-25200 is at 25200. Call writing on 25700-800, the highest call writing on 25800-26000 was seen. Stay long, buy in fall, base-1 important for day trader is an obstacle on 25709.
Opinion on bank nifty
Virendra Kumar said that the first registration is on 57588-57799 while the big registration is on 58024-58107/58239. The first base is at 56554-56810 while the big base is on 56146-55456.
Got a good swing yesterday, crossed the registration-1 and regained registration-2. The bank was a rollover flat in the Nifty as compared to last month. All private banks- Axis Bank, HDFC Bank, ICICI Bank got a breakout. Yesterday, 57000 mega call writers crossed the zone, now it reached the put writers zone.
Meanwhile, the highest number of put writers reached 57000-56500, Rising-20 Dema Base-1. In any way, if you get the base-1, then stay long and shop in the fall. 57400-500-588 registration zone, above 57799, then 58024-58107 is possible.
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