Anuj Singhal, Managing Editor, CNBC Voice
The Monday breakout in the market remains intact. On Tuesday, there was a pause on just one 20 dema, not halt and yesterday the Nifty loudly closed over 20 dema. The bank can put Nifty all time high in this series. Stay long with the lower level trailing SL of the previous day. Fiis is also sitting on a heavy short. If you get over 25,350, the large short covering can occur.
Market: How are the signs?
Indian companies have started giving good results. Most of the major results that came tomorrow are positive. Infosys and Coforge had a great result introduced. Tata consumer income was good, there was pressure in margin. The Kajaria Ceramics results. If 3-4 more good days are found, then Momentum will come in the market.
Keep an eye on today’s results-
BAJAJ FINANCE, NESTLE, SBI LIFE, ACC, APL Apollo, Canara Bank, CG Power, Cyient, Indian Bank, IEX, KFin Tech, Phoenix Mills, MPHASIS
Place on Rec, Suprem Ind.
How are the results and guidance of Infosys?
Infosys results are good, but the question is why didn’t the ADR run? The answer is that guidance is a meaningless increase. Guidance is increased from 0-3% to 1-3%. The lower band of guidance has no meaning. The upper band of guidance is important
Market: What do you feel?
Fiis shorts have now stopped getting Follow Through. Now perhaps a paved bottom of 24,882 in the Nifty. Gradually, we can now move towards a new peak. Bank Nifty probably put a new summit in this series. The decline in the Nifty IT also ended. If India-US has a trade deal, it will be icing on the cake. Both selected stocks and Nifty have to purchase in decline. 25,350 after 25,550 and 25,650 are registered.
Walk a step at a time, do not think much further. Manage the risk and shop in a decline with strict SL. Run behind the shares where the results and commentary are good. See also tomorrow, what great recovery has given from the lower levels. The risk in the market is only for the results coming in second half. Mostly the second half is slightly bad.
Strategy on Nifty
The first registration is on 25,250-25,295 (options data) while the big registration is on 25,350-25,400 (Collapse Zone). The first support is on 25,150-25,200 (options data). The big support is 25,050-25,100 (tomorrow’s low). Trail the stop loss on existing long deals and bring it to 25,050. Shopping zone stood at 25,150-25,200, Stop Loss 25,050. Currently there is no selling trade in Nifty.
Strategy on bank nifty
Bank Nifty is the strongest index. Tomorrow too, there was only a strategy shopping in the fall. Yesterday, Bank Nifty gave a great trade. Even today, shop in the same strategy fall. Bank Nifty’s all -time high is now just 400 points away. May be a little profitable on 57,500-57,600. For purchase, there will be 57,000-57,200 best range and Stoploss at 56,800.
(Disclaimer: The ideas given on Moneycontrol.com have their own personal views. The website or management is not responsible for this. Money control advice to users to seek the advice of the Setted Experts before making any investment decisions.