What is the strategy on NIFTY
Talking on the strategy of Nifty, Virendra Kumar of CNBC-Awaaz said that its resistance zone is 18124-18166. At the same time, the big resistance zone is 18197-18233. Its base zone is 17977-17932. Whereas the larger base zone is 17881-17840. Yesterday’s buy position above 17840 and 18020 worked. Nifty closed at day’s peak yesterday, FIIs and F&O figures are good. Buy and place SL on first base for intraday. Positional traders place SL on second base. 17900 The largest option base, there is an immediate hurdle at 18197-233. Monthly options setup is very robust.
What is the strategy on NIFTY Bank
While strategizing on Bank Nifty, Virendra Kumar of CNBC-Awaaz said that yesterday’s buying strategy on option base of 39000 has worked well. 39500 was the resistance yesterday and is still there today. Call writers are frozen at 39500 and 40000. Stay in long deals of Bank Nifty, buy new ones too. If Bank Nifty stays above 39724 then it will move towards 40080. At exit 39725, trail SL to 39490. In the same Bank Nifty, the first resistance is 39724-39908 and the second resistance is at 40080-40294. At the same time, the first base is at 39317-39210 and the second base is at 39020-38920.
How can the market move today
Subhash Gangadharan of HDFC SecuritiesSays a small positive candle has formed on the daily chart with long lower shadow. Technically, this pattern indicates that an upside bounce may be seen from the lower levels and Nifty may look towards the 18,050-18,100 levels. This is a good sign. In the short run the market is expected to rise further.
Subhash Gangadharan is of the opinion that the short term trend of Nifty is looking positive. A breakout of the current range around 18,060-18,100 will open the possibility for Nifty to go up to 18,250-18,350 in the next few trading sessions. Immediate support is visible for Nifty at 17,850 level.
Stocks coming under F&O ban on NSE
As on November 9, three stocks Escorts, Punjab National Bank and Sun TV Network F&O are in the ban on NSE. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.
results coming today
Today the September quarter results of 160 companies including Bosch, Mahindra & Mahindra, Power Grid Corporation, Astrazeneca Pharma, BHEL, HEG, Indraprastha Gas, MRF and Petronet LNG will be announced.
Bulk deal. PGIM India Mutual Fund has bought 5 lakh shares in Kirloskar Pneumatic at Rs 397 per share. At the same time, HDFC Mutual Fund has sold 5 shares.
Microfirm Capital Private Limited has sold 1.35 crore shares in Poonawalla Fincorp at a price of Rs 172.80 per share. Apart from this, Celica Developers has also sold 1.35 crore shares of the company at a price of Rs 171.65 per share.
Paytm IPO filled 18% on day one
The country’s largest PAYTM IPO has received a sluggish response on the first day. Till now 18% is filled. Its price band is between 2080 to 2150 rupees. The issue of Sapphire Foods India, which runs outlets like KFC and PIZZA HUT, will open from today. The price band is between Rs 1120 to Rs 1180.
265 in a single dose of ZyCoV-D
In India, the price of the Xycov-D vaccine has been fixed for 12 to 18 years old. One dose will cost Rs 265. The central government has ordered one crore vaccines.
Today M&M and BHEL results
M&M’s second quarter results will be out today. A 5% drop in profits is possible. Margins are also under pressure. BHEL results are also out today. The company can come in PROFIT from LOSS.
Britannia’s disappointing results
Britannia posted disappointing results in the second quarter. Profits have fallen 23%. Volume growth also turned out to be just 2%. AUROBINDO PHARMA’s profit has also fallen by 14%.
Global cues mixed for the market
Global cues are looking mixed for the market. Nikkei in Asia is trading up a quarter percent. SGX NIFTY is trading flat but DOW FUTURES is seeing 80 points pressure although S&P 500 and NASDAQ closed at record levels yesterday.
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