Anil Singhvi’s Strategy December 13: Day support zone on Nifty is 17,475-17,525 & Bank Nifty is 36,800-36,900

Amid positive global markets, domestic institutional investors (DIIs), sentiment, negative foreign institutional investors (FIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Monday, December 13, 2021. 

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Domestic benchmarks witnessed marginal losses on Friday, December 10, 2021, amid negative cues from the global markets. The Sensex closed below 58,800 while the Nifty settled near the 17,500 level. The S&P BSE Sensex declined 20.46 points, or 0.03 per cent to end at 58,786.67. The NSE Nifty 50 also slipped 5.55 points, or 0.03 per cent, to finish at 17,511.30. The Bank Nifty rose 23.20 points, or 0.06 per cent, to close at 37,105.65.

Broader indices outperformed the Sensex at the BSE with the S&P BSE MidCap index rising 0.39 per cent and S&P SmallCap adding 0.85 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 13:

Day support zone on Nifty is 17,475-17,525, below that 17,375-17,425 is a strong Buy zone.

Day higher zone on Nifty is 17,600-17,625, above that 17,675-17,750 is a strong Profit booking zone.

Day support zone on Bank Nifty is 36,800-36,900, below that 36,500-36,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,375-37,575, above that 37,650-37,850 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,525-17,625, while the medium and bigger day ranges are 17,475-17,675 and 17,400-17,750, respectively.

The small day range for trading on Bank Nifty is 36,900-37,525, while the medium and bigger day ranges are 36,800-37,650 and 36,600-37,750, respectively.

FIIs Index long decreased to 67% Vs 70%.

PCR at 1.28 Vs 1.42.

India VIX down by 3% at 16.06.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,450.

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 with a stop loss of 17,450 and target 17,600, 17,625, 17,675, 17,750.

Sell Nifty in 17,675-17,750 range with a stop loss of 17,825 and target 17,625, 17,600, 17,550, 17,515.

For New Positions:

Buy Bank Nifty with a stop loss of 36,800 and target 37,375, 37,525, 37,575, 37,650, 37,750, 37,825, 37,950.

Sell Bank Nifty in 37,750-37,950 range with a stop loss of 38,100 and target 37,650, 37,575, 37,525, 37,400, 37,300.

F&O Ban Update:

New In Ban: Vodafone Idea

Already In Ban: Escorts, Indiabulls Housing Finance

Out Of Ban: Nil

Stock Of The Day:

Buy Glenmark Pharma futures: Stop loss 515 and target 540, 550, 565. Owns 82% in Glenmark Life Science worth 6000 crores Trading at Reasonable Valuations.

Tega Industries Listing Preview: Expected to list around 700-750 range against issue price of 453. Investors keep a stop loss of 650 and keep trailing.

Metro Brands IPO Preview: RISK TAKING INVESTORS APPLY FOR LONG TERM.

Positives:

Strong Brand and Presence.

Good Financial Track Record.

Negatives:

Highly Competitive Business.

Valuations are not very attractive.

Medplus Health IPO Preview: APPLY FOR REASONABLE LISTING GAIN AND LONG TERM.

Positives:

Strong Promoters

Second largest Pharmacy retailer in India.

Strong Financial Track Record. 

Reasonable Valuations.

Negatives:

Focus only on the southern market.