Anuj Singhal, Managing Editor, CNBC Voice
Yesterday 7 days later, the Nifty created a low low, but closed around Friday’s low. It is too early to say that the trend is broken. Trailing SL definitely felt, but still made thick money. The Nifty’s 10 dema is at 25,255 and 20 Dema is at 25,100. There will be a chance of purchasing all the falls up to 25,250 from here. The big trend of the market will change below 25,000. Move in select shares was also fantastic yesterday. Yesterday the midcap index closed at the summit of the day. Breadh would not have been so good if the market was bad. A trade was completed in the Nifty, now we will wait for the next trade. The biggest sign for the market is going to start from today. From today, monthly/quarterly updates of companies will start coming. The most important results season will begin from next week.
Today’s signs
Today’s biggest sign will be June auto sales figures. Auto sales estimate is not very good. Only two-wheelers and tractors should have good figures. Sales of passenger and commercial vehicles still do not look good. This means that there is still no earning recovery in every segment. Well, this is just a data point, besides there are many important figures. The bank, especially private banks, will be monitored on the quarterly updates. The rally has been led by HDFC Bank and ICICI Bank. Apart from this, the weekly expiry of Sensex will also be monitored. For the last 2 months, the markets have been quite Volatile on Tuesday. Many hedge funds have master the Sensex expiry. Today, big moves can be found on both sides. We have already taken advantage of a 1000 -digit rally. Now we will wait for the entry point of the next 1000 marks rally.
What should be the strategy in the market now?
Today you have to do a little careful trading. Not necessarily every move of the market is caught. Now either we get entry near 5 and 10 dema or let us cross the high of tomorrow. Today, there will be opportunities on both sides in Intrade. It would be better to focus on shares today and the next 2-3 days. In the meantime, if the Nifty gives an entry, we will talk. Keep the focus where the updates will be good. The results of the results are going to be Make or Break. If you remain in good shares, then made a big money. The biggest example is Interglobe Aviation. Yesterday also the Interglob made a new all-time high. There will be many shares where purchases come on every decline.
Strategy on Nifty
The first support for Nifty is at 25,400-25,450 while the most important support is at 25,325-25,400. The first registration is at 25,600-25,650. The big registration is at 25,700-25,750. The zone of purchase is 25,400-25,450 for this, SL for this at 25,325. The selling zone is at 25,600-25,650 at SL 25,700 for this.
Strategy on Nifty Bank
The first support is at 57,000-57,200 while the big support is at 56,800-57,000 while the first registration is at 57,400-57,600. At the same time, the big registration is 57,800-58,000. For now, there is no selling trade in Nifty Bank. The zone of purchase is at 57,000-57,100 for this SL at 56,800.
NIFTY Strategy for Today: Important registration on 25598-25623 for Nifty, where it will be difficult to settle
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