Anil Singhvi’s Strategy December 15: Day support zone on Nifty is 17,200-17,250 & 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 Wednesday, December 15, 2021.  

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The benchmark indices suffered modest cuts at the fag end of market hours on Tuesday, December 14, 2021, amid negative cues from the global equity markets. The Sensex closed near 58,100. 

The S&P BSE Sensex declined 166.33 points, or 0.29 per cent, to settle at 58,117.09. The Nifty 50 index fell 43.35 points, or 0.25 per cent, to close at 17,324.90. The Bank Nifty lost 31.30 points, or 0.08 per cent, to end at 36,893.95. 

In the broader market at BSE, the Mid-Cap index declined 0.37 per cent while the Small-Cap index gained 0.05 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 15: 

Day support zone on Nifty is 17,200-17,250, below that 17,075-17,175 is a strong Buy zone. 

Day higher zone on Nifty is 17,375-17,425, above that 17,475-17,525 is a strong Sell 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 37,050-37,150, above that 37,275-37,375 is a strong Sell zone.  

The small day range for trading on Nifty is 17,225-17,375, while the medium and bigger day ranges are 17,200-17,425 and 17,150-17,475, respectively.

The small day range for trading on Bank Nifty is 36,800-37,100, while the medium and bigger day ranges are 36,625-37,275 and 36,525-37,375, respectively.  

FIIs long position is much lighter at 57% Vs 63%. 

PCR oversold at 0.84 Vs 0.86, short-covering expected at lower levels. 

India VIX up by 2% at 16.95. 

For Existing Long Positions: 

Nifty Intraday and Closing stop loss are 17,150. 

Bank Nifty Intraday and Closing stop loss are 36,500.  

For Existing Short Positions: 

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

Bank Nifty Intraday stop loss is 37,150 and Closing stop loss is 37,300. 

For New Positions: 

Buy Nifty in 17,150-17,225 range with a stop loss of 17,050 and target 17,300, 17,325, 17,375, 17,400. 

Aggressive Traders Buy Nifty with a strict stop loss of 17,200 and target 17,375, 17,400, 17,425, 17,475, 17,500. 

Sell Nifty in 17,375-17,475 range with a stop loss of 17,550 and target 17,325, 17,300, 17,225, 17,175, 17,150. 

Aggressive Traders Sell Nifty with a strict stop loss of 17,425 and target 17,225, 17,200, 17,175, 17,150, 17,075. 

For New Positions: 

Buy Bank Nifty in 36,525-36,625 range with a stop loss of 36,350 and target 36,800, 36,875, 36,925, 37,000. 

Aggressive Traders Buy Bank Nifty with a strict stop loss of 36,500 and target 37,050, 37,150, 37,275, 37,375, 37,450. 

Sell Bank Nifty in 37,275-37,375 range  with a stop loss of 37,600 and target 37,150, 37,050, 36,900, 36,825, 36,625, 36,550. 

F&O Ban Update: 

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

New In Ban: Nil 

Out Of Ban: Nil 

HP Adhesives IPO Preview: 

APPLY: HIGH-RISK HIGH RETURN SMALL SIZE IPO 

Positives: 

Market leader in solvent cement products 

Strong growth outlook due to capacity expansion 

Profit-making company at the operational level 

Negatives: 

Very small player in a competitive market 

Volatile margins