Help me understand what the next is when my Nifty 50 breaks 22,000.
Sneha Seth: It’s a bit difficult to understand at this point, but yes, if you look at the market, the past two sessions, especially the corrections we’ve seen in IV, especially IV, you see a surge in IV from 13 to 20 years old.
It’s very possible for now as Nifty could be further revised towards at least 21,400, 21,500 zones if it’s below the 22,000 mark on a closed basis or below.
So, we are now shedding light on the index. The bank index that we support or could still remain high was also assaulted today. So, we can see that the April series has added a short position to index futures, as the overall market conditions, IVS, and FII were the first to buy.
So at this point, shedding light on the index is a good opportunity for investors, and there are many counters trading at a 20-30% reduction from a higher level, looking for a long-term perspective if someone wants to go.
We mentioned some interesting points about the clever bank. I came to you for that. Nifty Bank, which has been more performant and actually lending support to the market, is succumbing to the pressures of selling today. But as you move on, you should watch a bit of a breather or a comeback coming in, so what level do you think of awkward banks are likely to lead?
Sneha Seth: Bank Index I believe the support zone is around 48,000, so this is the main support zone I’ve admired so far, and I believe the upward movement of over 50,700 is interesting so far. And we may see a purchase coming. The resistance is around 50,500, which means it is in the bank index range.
For follow-up purchases on the resistance zone, it is very interesting and it also supports Nifty.Understand which stock you’re paying attention to at this point, and are you looking for some fresh shots at this point, or do you want to buy some dips?
Sneha Seth: So I’m very selective and I said you’re very selective and you need to do a very light trade for now, so I’ll choose one stock to buy again. This counter gave him a strong movement.
Despite this revision in the market, it’s trading green today, which is the best thing about this counter for now.
Looking at the chart structure, the resistance is located in the 1180 zone, but looking at the chart structure, the volume seen recently could be that this counter exceeds those levels.
