strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is 16511-16521 and the larger resistance zone is 16583-16610. The base zone is 16410-16371 and the larger base zone is 16310-16251. On Friday also advised not to short, asked to focus on 16500 call. Dow Futures flat but FIIs have very poor numbers. Will play through option only after getting clear direction. After opening 16511 hinges then 16583-610 is also possible. Buy 16600 call after opening, and put a stoploss of 16440 for it. 16371 Don’t think about short before breaking. The decline is stopping due to the change in sectors, there was a strong rally in FMCG on Friday.
strategy on bank nifty
Virendra Kumar says that its resistance zone is 35490-35640.
And the bigger resistance zone is 35810-35950. The base zone is 34970-34840 and the larger base zone is 34610-34490. It was clearly said on Friday not to short till 34840 breaks. No clear trades yet, will see after opening. If you stay above 35200, then 35500 is also possible. Short only below 34840.
Today’s Trading Calls
Prudent Broking Services
BUY NESTLE AT 19570 TGT 21000 SL 18650
Buy SUNPHARMA Stop 736 Target 811
Sell ONGC @ 110 SL 113 TGT 105
NUVOCO VISTAS listing today
Cement company NUVOCO VISTAS CORP will be listed today. The issue price is Rs 570. The IPO was almost 2 times full.
Auro Pharma cancels Cronus Pharma deal
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FM to present roadmap of NMP today
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ZYDUS’s corona vaccine approved
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Infosys summoned over IT portal flaw
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Positive signal from global market
On the first day of the week, the signals from the global market are looking good. Asia has got off to a strong start. SGX NIFTY has seen a great jump of 135 points. DOW FUTURES is also up about 50 points. The US markets closed on Friday on the rise.
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