Anil Singhvi’s Strategy December 14: Day support zone on Nifty is 17,250-17,300 & Bank Nifty is 36,525-36,625

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

Domestic equity benchmarks closed with deep losses on Monday, December 13, 2021, amid mixed cues from the global equity markets. The Sensex was closed below 58,300 while the Nifty settled below 17,400 level.

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The S&P BSE Sensex tumbled 503.25 points or 0.86 per cent to settle at 58,283.42. The Nifty 50 index dropped 143.25 points or 0.82 per cent to end at 17,368.25. The Bank Nifty slipped 180.40 points or 0.49 per cent to 36,925.25.

In the broader markets at the BSE, the S&P BSE MidCap declined 0.53 per cent while BSE SmallCap closed with a gain of 0.24 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 14: 

Day support zone on Nifty is 17,250-17,300, below that 17,150-17,200 is a strong Buy zone.  

Day higher zone on Nifty is 17,350-17,425, above that 17,475-17,525 is a strong Profit booking zone.  

Day support zone on Bank Nifty is 36,525-36,625, below that 36,200-36,375 is a strong Buy zone.  

Day higher zone on Bank Nifty is 37,100-37,275, above that 37,375-37,525 is a strong Profit booking zone.  

The small day range for trading on Nifty is 17,300-17,425, while the medium and bigger day ranges are 17,250-17,475 and 17,200-17,525, respectively.

The small day range for trading on Bank Nifty is 36,625-37,100, while the medium and bigger day ranges are 36,525-37,275 and 36,375-37,375, respectively.  

FIIs Index long decreased to 63% Vs 67%. 

PCR oversold at 0.86 Vs 1.28, short-covering expected at lower levels. 

India VIX up by 3% at 16.57. 

For Existing Long Positions: 

Nifty Intraday stop loss is 17,300 and Closing stop loss is 17,150. 

Bank Nifty Intraday stop loss is 36,800 and Closing stop loss is 36,500.  

For Existing Short Positions: 

Nifty Intraday stop loss is 17,425 and Closing stop loss is 17,525.  

BankNifty Intraday stop loss is 37,150 and Closing stop loss is 37300.  

For New Positions: 

Sell Nifty with a stop loss of 17,425 and target 17,300, 17,250, 17,200, 17,180, 17,150.  

Buy Nifty in 17,150-17,200 range with a stop loss of 17,050 and target 17,250, 17,300, 17,350, 17,375, 17,400.

For New Positions: 

Sell Bank Nifty with a stop loss of 37,150 and target 36,800, 36,625, 36,525, 36,375, 36,200. 

Buy Bank Nifty in 36,525-36,625 range with a stop loss of 36,350 and target 36,800, 36,875, 36,925, 37,075, 37,150, 37,275.

F&O Ban Update: 

Already In Ban: Vodafone Idea, Escorts, Indiabulls Housing Finance 

New In Ban: Nil 

Out Of Ban: Nil 

Anand Rathi Listing Preview: 

Expected to list around 600-650 range against issue price 

Long Term Investors HOLD with Stoploss of 550 

Data Patterns IPO Preview: 

APPLY FOR LISTING GAINS AND LONG TERM 

Positives: 

Experienced and Clean Promoters 

Strong Financial Track Record 

Reasonable Valuations 

Negatives: 

Small Size Company with Rs 225 Crore Revenue and Rs 3000 Crore Market Cap.