Amid neutral global markets, future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be negative on Friday, December 17, 2021. 

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Benchmark indices broke a four-day losing trend on Thursday, December 16, 2021, and closed in the positive territory. The market witnessed strong demand in IT, oil & gas and consumer durables in a choppy session. At the close, the S&P BSE Sensex rose 113.11 points, or 0.20 per cent, to end at 57,901.14. The Nifty 50 index gained 27 points, or 0.16 per cent, to 17,248.40. However, the Nifty Bank index lost 240.90 points, or 0.65 per cent, and closed at 36,548.65. 

The broader market at the BSE underperformed the Sensex as S&P BSE MidCap fell 0.70 per cent and S&P BSE SmallCap dropped 0.65 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 17:

Day support zone on Nifty is 17,150-17,200, Below that 17,000-17,075 is a strong Buy zone.

Day higher zone on Nifty is 17,325-17,375, above that 17,400-17,475 is a strong Sell zone.

Day support zone on Bank Nifty is 36,200-36,375, below that 35,900-36,050 is the Next Support Zone.

Day higher zone on Bank Nifty is 36,800-36,900, above that 37,050-37,150 is a strong Sell zone.           

The small day range for trading on Nifty is 17,200-17,325 Small Day Range, while the medium and bigger day ranges are 17,150-17,375 and 17,075-17,425, respectively.

The small day range for trading on Bank Nifty is 36,375-36,800, while the medium and bigger day ranges are 36,200-36,900 and 36,050-37,050, respectively.

FIIs long position at 59% Vs 56%

PCR at 1.03 vs 0.79

India VIX down by 7.7% at 15.90

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,150.

Bank Nifty Intraday stop loss is 36,350 and Closing stop loss is 36,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,425.

Bank Nifty Intraday stop loss is 37,150 and Closing stop loss is 37,000.

For New Positions:

Aggressive Traders Buy Nifty in 17,150-17,200 range with a stop loss of 17,050 and target 17,250, 17,300, 17,325, 17,375, 17,400.

Sell Nifty in 17,325-17,400 range with a stop loss of 17,450 and target 17,250, 17,225, 17,200, 17,150.

Aggressive Traders Sell Nifty with a strict stop loss of 17,400 and target 17,200, 17,150, 17,075, 17,025.

For New Positions:

Aggressive Traders Buy Bank Nifty in 36,200-36,375 range with a strict stop loss of 36,000 and target 36,500, 36,550, 36,775, 36,900.

Aggressive Traders Sell Bank Nifty in 36,800-37,000 range with a strict stop loss of 37,200 and target 36,550, 36,375, 36,200, 36,050.

F&O Ban Update:

Already In Ban: Escorts and Vodafone Idea

New In Ban: Nil

Out Of Ban: Indiabulls Housing Finance

RateGain Listing View

- Expected to list below the issue price of Rs 425

- Keep stop loss of Rs 400