strategy on nifty
Virendra Kumar of CNBC-Awaaz says that the resistance zone of Nifty is at 17391-17429. Its major resistance zone is 17466-17487 and base zone is 17283-17258. Its major base zone is at 17234-17196. FIIs and DIIs bought back in cash but FIIs continued to take short positions in derivatives. The entire zone at 17429-487-500 is strongly supplied and below is the support zone at 17224-196. Buy every fall until the second base is there. Buy 17500 call above 17452. Exit long positions below 17191 and look for short opportunities. Also keep an eye on the fall to first base of 17283-258.
strategy on nifty bank
Virendra Kumar says that its resistance zone is 36835-36974. Its major resistance zone is 37121-37341 and base zone is 36510-36411. The larger base zone is 36205-36177. There has been a strong call writing on 36500-700-800-37000. Put writers trust on 36205-36200, 20 DEMA is also here. Highest OI of 8 lakhs in 37000 calls, 37000-37121 is the big supply zone. Buy every drop till 36205-36000, exit near 37000. It is necessary to close above 37341 for good strength.