Anil Singhvi’s Strategy December 22: Day support zone on Nifty is 13,200-13,250 & Bank Nifty is 29,050-29,200

Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and positive futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, December 22, 2020.  

Key domestic indices on Monday, December 21, 2020, plunged three per cent in sync with fall in global stocks. Sensex declined 1,407 points and Nifty ended 432 points down. The Sensex tumbled 1,406.73 points or three per cent to finish at 45,553.96 and the NSE Nifty 50 index tanked 432.15 points or 3.14 per cent to settle at 13,328.40. Bank Nifty ended 1,258.20 points or 4.10 points down at 29,456.45.

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The broader market at BSE also declined to underperform the Sensex. The BSE Mid-Cap index closed 4.14 per cent down while the BSE Small-Cap index fell 4.57 per cent down.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 22: 

Market to resume uptrend again if Nifty and Bank Nifty closes above 13,550 and 30,200.

Day support zone on Nifty is 13,200-13,250, below that 13,100-13,150 is strong Buy zone.

Day higher zone on Nifty is 13,450-13,550. 

Day support zone on Bank Nifty is 29,050-29,200, below that 28,725-28,850 is strong Buy zone.

Day higher zone on Bank Nifty is 29,900-30,200. 

Small Day Range for trading on Nifty is 13,250-13,450, while the medium and bigger day ranges are 13,200-13,500 and 13,150-13,550, respectively.

Small Day Range for trading on Bank Nifty is 29,200-29,900, while the medium and bigger day ranges are 29,050-30,050 and 28,850-30,200, respectively.

FIIs decreased Index long to 67% Vs 68%.

PCR oversold and very light at 1.12 Vs 1.62, Buying expected at lower levels.

VIX sharply up by 25% at 23.19, Expect more volatility.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,100.

Bank Nifty intraday and closing stop loss are 29,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,550.

Bank Nifty intraday and closing stop loss are 30,200.

For New Positions:

Buy Nifty with a stop loss of 13,100 and target 13,400, 13,450, 13,475, 13,500, 13,550. 

Sell Nifty in 13,475-13,550 range with a stop loss of 13,600 and target 13,400, 13,350, 13,300, 13,250.

For New Positions:

Buy Bank Nifty with a stop loss of 29,000 and target 29,750, 29,900, 30,050, 30,200, 30,300. 

Sell Bank Nifty in 30,000-30,200 range with a stop loss of 30,400 and target 29,900, 29,750, 29,600, 29,500.

F&O Ban Update: 

New in Ban: Nil

4 Already in Ban: Canara Bank, PNB, Sun TV, SAIL

Out of Ban: Nil