Do you also invest in intraday and options? So before investing today, definitely check these levels.

Business News Desk,Talking about the further movement of the market, CNBC-Awaaz Managing Editor Anuj Singhal said that there are 2 very big triggers for the market today. Today’s biggest trigger is China’s relief package while today’s second big trigger is SBI’s quarterly results. The reason for our market falling was not the US elections. Our markets fell due to the results and China factor. The quality of the results is still not very good. Trent’s results yesterday disappointed expectations. Today SBI results can set the mood of the economy. If China’s relief package comes too big, there will be a problem. FIIs have made it clear, right now they are withdrawing money from India. More money will go from India to China on China’s big relief package. Anyway, Nifty has given a big sign of stopping at 20 DEMA. If recent lows are broken then preparation for 200 DMA will be done. There will be new bullish momentum if it closes above 24,500.

Then what should be your strategy on the market?

Forget about F&O, especially the option. Search for growth+value in the market for a few days. Keep doing SIP in good stocks which are falling. Now keep an eye on 2 levels for Nifty. The high of November 6 is at 24,537 and the low of November 4 is at 23,816. A major rally is possible above 24,537 and a major recession is possible below 23,816. Focus can be placed on some sectors. Metal, IT and PSU banks may outperform for some time. Metal sector is a China factor while IT is a US economy and dollar factor while PSU Bank is a result and value factor.

strategy on nifty

While talking about today’s strategy on Nifty, Anuj Singhal said that the first support is at 24,035-24,100 (as per option) while the most important support is at 23,800-23,850 (recent low). The first resistance is at 24,270-24,340 (5 and 10 DEMA). Major resistance lies at 24,500-24,550 (High of High, 20 DEMA). For now trade only intraday in the market. Trade only if you can trade both ways. Trade according to the screen.

strategy on nifty bank

The first support for Nifty Bank is at 51,800-51,850 (10, 20 and 50 DEMA) while the major support is at 51,200 (100 DEMA). The first resistance is at 52,275-52,350. Major resistance is at 52,400-52,600. SBI results today will be make or break for Nifty Bank. HDFC Bank and ICICI Bank are again facing FII selling.