Amid neutral global markets, domestic institutional investors (DIIs), future & options (F&O), positive foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, August 18, 2021. 

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The main indices extended a record closing spree on Tuesday, August 17, 2021. The S&P BSE Sensex rose 209.69 points or 0.38 per cent to 55,792.27. The Nifty 50 index gained 51.55 points or 0.31 per cent to 16,614.60. Nifty Bank index closed 227.05 points or 0.63 per cent at 35,867.45. 

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In the broader markets have outperformed the at the BSE, the S&P BSE MidCap closed with a gain of 0.71 per cent and S&P BSE SmallCap closed 0.30 per cent higher. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 18:

Day support zone on Nifty is 16,530-16,565, below that 16,475-16,500 is a strong Buy zone. 

Day higher zone on Nifty is 16,650-16,700, above that 16,750-16,800 is a Profit-booking zone.

Day support zone on Bank Nifty is 35,625-35,700, below that 35,400-35,525 is a strong Buy zone.

Day higher zone on Bank Nifty is 36,000-36,100, above that 36,225-36,300 is a strong Sell zone.

The small day range for trading on Nifty is 16,565-16,650, while the medium and bigger ranges are 16,530-16,700 and 16,475-16,750, respectively. 

The small day range for trading on Bank Nifty is 35,600-36,000, while the medium and bigger ranges are 35,525-36,100 and 35,400-36,225, respectively. 

FIIs Index long at 65% Vs 66%

PCR unchanged at 1.67, Cautious at higher levels

India VIX unchanged at 13.41

For Existing Long Positions:

Nifty Intraday stop loss is 16,450 and Closing stop loss is 16,350.

Bank Nifty Intraday stop loss is 35,600 and Closing stop loss is 35,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,650.

Bank Nifty Intraday stop loss is 36,050 and Closing stop loss is 36,200.

For New Positions:

Buy Nifty in 16,500-16,565 range with a stop loss of 16,450 and target 16,600, 16,625, 16,675, 16,700, 16,750.

Sell Nifty in 16,675-16,750 range with a stop loss of 16,800 and target 16,625, 16,600, 16,575, 16,525, 16,500.

For New Positions:

Buy Bank Nifty in 35,525-35,700 range with a stop loss of 35,400 and target 35,800, 35,900, 35,975, 36,025.

Aggressive Traders Buy Bank Nifty with a Strict Stop Loss of 35,600 and target 35,975, 36,025, 36,100, 36,225, 36,300.

Sell Bank Nifty in 36,175-36,300 range with a stop loss of 36,500 and target 36,100, 36,025, 35,925, 35,850, 35,800, 35,700.

F&O Ban Update: 

New In Ban: Canara Bank, Vedanta

Out Of Ban: Indiabulls Housing Finance, RBL Bank

5 Already In Ban: Sun TV, PNB, Cadila Health, NALCO, SAIL