Anil Singhvi’s Strategy December 10: Day support zone on Nifty is 17,375-17,425 & Bank Nifty is 36,750-36,850

Amid neutral global markets, negative foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be negative on Friday, December 10, 2021. 

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Domestic stock markets ended higher for the third day in a row on Thursday, December 9, 2021. The S&P BSE Sensex closed 157.45 points or 0.27 per cent at 58,807.13. The Nifty 50 index added 47.10 points or 0.27 per cent to settle at 17,516.85. However, Bank Nifty declined 202.25 points or 0.54 points to 37,082.45.

Broader indices outperformed the Sensex at the BSE with the S&P BSE MidCap index rising 0.38 per cent and S&P SmallCap adding 0.80 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 10:

Day support zone on Nifty is 17,375-17,425, below that 17,275-17,350 is a strong Buy zone.

Day higher zone on Nifty is 17,550-17,600, above that 17,625-17,675 is a strong Sell zone.

Day support zone on Bank Nifty is 36,750-36,850, below that 36,500-36,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,275-37,375, above that 37,525-37,650 is a strong Sell zone.

The small day range for trading on Nifty is 17,425-17,550, while the medium and bigger day ranges are 17,375-17,600 and 17,300-17,675, respectively.

The small day range for trading on Bank Nifty is 36,850-37,275, while the medium and bigger day ranges are 36,600-37,375 and 36,500-37,575, respectively.

FIIs Index long decreased to 70% Vs 73%.

PCR overbought with less position at 1.42 Vs 1.26, Profit-booking expected at higher levels.

India VIX down by 4% at 16.60.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,350.

Bank Nifty Intraday and Closing stop loss are 36,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,625.

Bank Nifty Intraday and Closing stop loss are 37,500.

For New Positions:

Buy Nifty in 17,350-17,425 range with a stop loss of 17,275 and target 17,475, 17,525, 17,550, 17,600.

Aggressive Traders Buy Nifty with a strict stop loss of 17,350 and target 17,550, 17,600, 17,625, 17,675.

Sell Nifty in 17,550-17,675 range with a stop loss of 17,750 and target 17,500, 17,475, 17,425, 17,375.

Aggressive Traders Sell Nifty with a strict stop loss of 17,625 and target 17,425, 17,375, 17,350, 17,300, 17,275.

For New Positions:

Buy Bank Nifty in 36,500-36,700 range with a stop loss of 36,350 and target 36,850, 36,900, 37,075, 37,275, 37,375.

Sell Bank Nifty in 37,375-37,575 range with a stop loss of 37,750 and target 37,275, 37,125, 37,075, 36,900.

Aggressive Traders Sell Bank Nifty with a strict stop loss of 37,400 and target 36,900, 36,850, 36,775, 36,625, 36,525, 36,375.

F&O Ban Update:

New In Ban: Escorts

Already In Ban: Indiabulls Housing Finance

Out Of Ban: Nil

Stock Of The Day:

Buy Delta Corp Futures: Stop loss 270 and target 285, 290, 298. The benefit of Re-opening theme. Strong booking expected in the holiday season

Star Health Listing Preview: Expected to list below the issue price of Rs 900 per share.