Global cues are looking good for the market. In the US, the S&P 500 and NASDAQ made new highs. Mixed business is happening in Asia. SGX NIFTY FLAT is doing business. On the other hand, there is relief on the crude front. Brent came down to $74.
strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is 15921-15957 and the larger resistance zone is 15977-16005. The base zone is 15817-15781 and the larger base zone is 15740-15710. There was a clear buy yesterday, the market closed at the peak of the day. US market has got a pullback from strong, important averages.
FIIs buy back in cash after a long time 15900 Call writers are also less confident. So buy in Nifty. 15921 is clearly visible in the first phase. If it stays above 15921, the level of 15957-77 is also possible. Strong put writing at 15800 looks base for expiry. Banks are looking good, metal stocks have a new life.
strategy on nifty bank
Virendra Kumar says that its resistance zone is 35940-36080. The big resistance zone is 36249-36340. The base zone is 35540-35440 and the larger base zone is 35310-35200. New life in the market is coming from Nifty Bank itself. Strong put writing is being seen between 35500-35700. There may be an attempt to touch 35940-36080 in the beginning. If you stay above 36080, you will get another 200 points.