Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, August 11, 2021. 

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Domestic equity barometers ended the volatile session with small gains on Tuesday, August 10, 2021. The S&P BSE Sensex added 151.81 points or 0.28 per cent to 54,554.66. The Nifty 50 index advanced 21.85 points or 0.13 per cent to 16,280.10. The Bank Nifty index grew marginally by 5.15 points or 0.01 per cent and settled at 36,034.10. 

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Meanwhile, the broader markets underperformed the markets with S&P BSE MidCap dropping 0.85 per cent and S&P BSE SmallCap falling 2.05 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 11:

Day support zone on Nifty is 16,210-16,235, below that 16,125-16,175 is a strong Buy zone.

Day higher zone on Nifty is 16,325-16,350, above that 16,400-16,450 is a profit-booking zone.

Day support zone on Bank Nifty is 35,800-35,900, below that 35,600-35,700 is a strong Buy zone. 

Day higher zone on Bank Nifty is 36,200-36,300, above that 36,400-36,600 is a Profit-booking zone. 

The small day range for trading on Nifty is 16,235-16,325, while the medium and bigger day ranges are 16,200-16,350 and 16,125-16,400, respectively.

The small day range for trading on Bank Nifty is 35,800-36,300, while the medium and bigger day ranges are 35,700-36,400 and 35,600-36,475, respectively. 

FIIs Index long at 66% Vs 67%

PCR at 1.30 Vs 1.35

India VIX up by around 1% at 12.71

For Existing Long Positions:

Nifty Intraday stop loss is 16,175 and Closing stop loss is 16,125.

Bank Nifty Intraday and Closing stop loss are 35,800. 

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,400.

Bank Nifty Intraday and Closing stop loss are 36,350.

For New Positions:

Buy Nifty with a stop loss 16,125 and target 16,320, 16,335, 16,350, 16,400.

Sell Nifty in 16350-16425 range with a stop loss of 16,450 and target 16,350, 16,300, 16,280, 16,260.

For New Positions:

Buy Bank Nifty with a stop loss of 34,800 with a stop loss of 34,800 and target 36,200, 36,300, 36,400, 36,475.

Sell Bank Nifty in 36,350-36,475 range with a stop loss of 36,600 and target 36,225, 36,125, 36,025. 

F&O Ban Update: 

New In Ban: PNB

6 Already In Ban: Sun TV, Indiabulls Housing Finance, Canara Bank, RBL Bank, NALCO, SAIL

Out Of Ban: Nil