Anil Singhvi’s Strategy December 07: Day support zone on Nifty is 18500-18575 & Bank Nifty is 42925-43050

Indian markets will take cues from the Reserve Bank of India (RBI) monetary policy announcements scheduled at 10 am today, Zee Business Managing Editor Anil Singhvi said. He said that investors must keep an eye on Bank Nifty. Amid negative global markets, neutral domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, December 07, 2022.

Nifty support zone 18500-18575, Below that 18375-18450 Strong Buy zone

Nifty higher zone 18700-18775, Above that 18800-18875 Profit booking zone

Bank Nifty support zone 42925-43050, Below that 42750-42875 Strong Buy zone

Bank Nifty higher zone 43275-43375, Above that 43500-43650 Profit booking zone

Nifty support levels 18600, 18575, 18550, 18500, 18450

Nifty higher levels 18700, 18725, 18750, 18775, 18800, 18875

Bank Nifty support levels 43075, 43025, 42975, 42925, 42875, 42750

Bank Nifty higher levels 43225, 43275, 43325, 43375, 43500

FIIs Index Long at 62% Vs 66%
PCR at 0.91 Vs 0.90
Bank Nifty PCR at 0.84 Vs 1.09
India VIX up by 2% at 14.04

For Existing Long Positions:
Nifty Intraday n Closing STOP LOSS 18500
Bank Nifty Intraday n Closing STOP LOSS 42950

For Existing Short Positions:

Nifty Intraday and Closing STOP LOSS 18825
Bank Nifty Intraday n Closing STOP LOSS 43550

Read More: Stock Markets Today Live: Global cues negative as SGX Nifty in red after US markets end Tuesday in red

For New Positions:

Buy Nifty in 18500-18575 range: STOP LOSS 18350 Target 18615, 18650, 18700, 18725, 18750, 18775

Sell Nifty in 18725-18825 range: STOP LOSS 18900 Target 18700, 18650, 18615, 18575, 18550, 18500

For New Positions :

Buy Bank Nifty in 42750-42925 range: STOP LOSS 42700 Target 43000, 43075, 43125, 43225, 43275, 43325, 43375, 43500

Sell Bank Nifty in 43375-43500 range: STOP LOSS 43600 Target 43325, 43275, 43225, 43125, 43075, 43000

F&O Ban Update:

New In Ban: PNB

Out Of Ban: Delta Corp

Already In Ban: GNFC, IB Housing Finance