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News Topical, Digital Desk : The stock market continues its downward trend. Today, Nifty closed slightly lower, near the 24,600 level. Meanwhile, Nifty Bank closed with gains. Now, all eyes are on Wednesday's market, when the Reserve Bank of India will also be in focus. Market expert and trader Amit Seth shared his strategy for Wednesday's trading and also highlighted the stocks where buying positions could be placed tomorrow.
What should be the strategy for the index?
According to Amit, Nifty has been falling for the past several days. Several key levels have been broken. The next support for Nifty lies near the 200 DEMA. He suggests that if current levels don't recover after the Reserve Bank's policy tomorrow, the next support is near 24,400. He believes the market is oversold, so any positive signal could lead to an increase. However, even in this situation, 24,800 could prove to be resistance. Therefore, wait for the policy outcome tomorrow and then see how the market reacts. If the market crosses 24,731, today's high, it could move towards 24,800-24,850. However, if the market goes below 24,580, the 24,500 level could be seen. He believes that the structure is weak, but the market has become oversold.
Which stocks have opportunities? According to Amit Seth, the metal sector shows signs of bullishness, unlike the market movement. According to him, looking at the structure of National Aluminum, the stock made a high of 220 and then fell slightly. However, it took support at key levels, so the stock looks positive. Volume was also visible today. In such a situation, Nalco can be bought. Keep a stop loss of 208 for the stock. Further targets up to 224 are possible. The stock is currently near the 214 level.
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