Anil Singhvi’s Strategy January 3: Day support zone on Nifty is 17,235-17,275 & Bank Nifty is 35,200-35,350

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Monday, January 3, 2022. 

Domestic equity benchmarks on Friday, December 31, 2021, ended with decent gains. The S&P BSE Sensex rose 459.50 points or 0.80 per cent to 58,253.82. The Nifty 50 index added 150.10 points or 0.87 per cent to settle at 17,354.05. The Bank Nifty index closed with a gain of 418.10 points or 1.19 per cent at 35,481.70.

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The broader markets at the BSE outperformed the Sensex with the S&P BSE MidCap rising 1.38 per cent and S&P BSE SmallCap adding 1.16 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 3: 

Day support zone on Nifty is 17,235-17,275, below that 17,150-17,200 is a strong Buy zone.

Day higher zone on Nifty is 17,400-17,475, above that 17,525-17,600 is a strong Profit booking zone.

Day support zone on Bank Nifty is 35,200-35,350, below that 35,050-35,125 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,700-35,850, above that 35,900-36,025 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,275-17,400, while the medium and bigger day ranges are 17235-17475 and 17,200-17,515, respectively.

The small day range for trading on Bank Nifty is 35,350-35,700, while the medium and bigger day ranges are 35,200-35,850 and 35,125-35,975, respectively.

FIIs long position increased to 68% Vs 66%.

PCR at 1.41 Vs 1.32, Profit booking expected at higher levels.

India VIX down by 2% at 16.22.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,200.

Bank Nifty Intraday and Closing stop loss are 35,000.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,400.

Bank Nifty Intraday and Closing stop loss are 35,600.

For New Positions:

Buy Nifty with a stop loss of 1,7200 and target 17,400, 17,475, 17,515, 17,535.

Sell Nifty in 17475-17535 range with a stop loss of 17,600 and target 17,400, 17,350, 17,300.

For New Positions:

Buy Bank Nifty in 35,200-35,350 range with a stop loss of 35,000 and target 35,475, 35,600, 35,700, 35,850.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 35,300 and target 35,600, 35,700, 35,850, 35,900, 35,975, 36,025.

Sell Bank Nifty in 35,850-35,975 range with a stop loss of 36,200 and target 35,700, 35,600, 35,550, 35,475, 3,5375.

No Stocks in F&O Ban