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If Nifty stays above 22212 then levels of 22309-371 can be seen – Virendra Kumar

Nifty Indes Fifty 2

Nifty Strategy Today: While giving the strategy on Nifty, CNBC-Awaaz’s Virendra Kumar said that the first resistance is visible at the level of 22156-22212. Whereas the biggest resistance is visible at the level of 22309 (20 DEMA)-22371. In this, the first base is visible at the level of 22019-21978. Big bass–visible at 21933-21856/21813. He said that the strategy of selling yesterday and in every rally was correct. Also got a pullback from below 100 DEMA yesterday. Heavy selling by FIIs continues. A strong rise was also seen in India VIX.

Virendra said that heavy call writing was seen in the 22100-22200-22300 zone in the index. In this, a gathering of put writers was seen in the 22000-21900-21800 zone. In this, we will sell only above 22156-22212 and change the selling strategy in every rally. Sell ​​the rally below the first resistance.

The first base is the option base, check short trade here. Pullbacks can be found in the index from 22019-21978. If this fails then 21933-21856-21810 is possible. Above, 50 DEMA and Call Writers’ zones are visible at 22212. If Nifty stays above 22212 then preparations will be made for 22309-371.

strategy on nifty bank

Explaining the strategy on the Banking Index, Virendra said that the first resistance is visible at the level of 47834-48020. Whereas the biggest resistance is visible at 48133(20DEMA)-48483. In this, the first base is visible at the level of 47505-47339. Whereas the big base is visible at the level of 47110-46910.

He said that this is a very oversold index. We said to target below 100 DEMA. This was also yesterday’s low. Some short covering was seen in HDFC Bank yesterday, giving relief to the index. Also crossed 50 DEMA in reversal but heavy call writing was seen at 47800-48000.

Virendra said that a gathering of put writers is visible in the 47500-47000 zone. In this, sell below 48020 and sell only in every rally. Sell ​​below the first resistance and sell at every rally. If it remains above 48020, the level of 48148 can be reached. According to technical, option data, reversal will happen above 48020-48148 only.