CNBC-Awaaz, Managing Editor, Anuj Singhal
Nifty is still not able to cross the all-time high on closing basis. Just need to close above 26,250-26,300 once. Yesterday we had discussed that today is a good day for profit booking. Yesterday we also made a short outlook for day traders. There was not as much FII selling as the screen was showing. There is no need to be afraid of the record fall of the rupee. The major trend of the market is still positive. Nifty’s 10 DEMA is 26,075 and 20 DEMA is 25,950. Make fresh entry on every dip till 26,050-26,100 and a fresh and tight SL of 25,900 is placed in the system now.
Market: today’s signals
There is a comfort in looking at the global markets. US markets fall, crypto falls but Asia is up. Somewhere there is an understanding that 2026 will belong to Asia and India’s macro is the strongest in the whole of Asia. If you look at 2026, Nifty 30,000 is absolutely possible. Therefore, ignore intraday or 1-2 week decline. Hero Moto again had explosive sales figures. Yesterday TVS Motor also presented excellent sales figures. It is clear that the effect of GST cut is visible. RBI policy is also going to come this week. Till last week, everyone was assuming rate cut. Expectations of rate cut have reduced significantly due to GDP data, but now even if there is no rate cut, the market will not fall much and if there is a surprise rate cut, the market will run faster. Just one thing – today is Nifty’s weekly options expiry.
Market: what to do now
Today’s basic range of Nifty is 26,050-26,300. The closer you buy to Rs 26,050, the better. The closer you sell to Rs 26,300, the better. This is the time to shift a little from trading to investing. Focus on wealth creation in a structural bull market. Imagine, a few years ago TVS was priced at Rs 35, today it is priced at Rs 3500. You have to find similar stocks growing 10-100 times and give them some time. And you will find such multibaggers in every market. India stands at the doorstep of a golden run. Only those who trust India will make big money here. There is structural bullishness in bank, NBFC and auto stocks. There are also opportunities in select metal, IT and pharma stocks.
strategy on nifty
The first resistance is at 26,200-26,250 while the major resistance is at 26,300-26,350. The selling zone for intraday is at 26,225-26,275, for this stoploss should be placed at 26,325. The first support is at 26,100-26,150. Major support is at 26,000-26,050. Buying zone for intraday is at 26,075-26,125. For this, put stoploss at 26,000.
strategy on bank nifty
The best zone for re-entry in Bank Nifty is at 59,150-59,300. Bank Nifty now has a new base of 58,750. If there is a rate cut or dovish pause in the policy, it will reach a new high. If 2026 is the vision then 70,000 is also possible. There is still a lot of momentum in public sector banks.
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