Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Tuesday, December 28, 2021. 

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Benchmark indices ended with decent gains on Monday, December 27, 2021. Both stocks gained amid mixed cues from the global equity markets. The S&P BSE Sensex rose 295.93 points, or 0.52 per cent, at 57,420.24. The Nifty 50 index rose 82.50 points, or 0.49 per cent, at 17,086.25. The Bank Nifty ended with a gain of 200.85 points, or 0.58 per cent, at 35,057.90.

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In the broader markets at the BSE, the S&P BSE MidCap index rose 0.27 per cent and S&P BSE SmallCap gained 0.52 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 28: 

Day support zone on Nifty is 16,950-17,000, below that 16,890-16,915 is a strong Buy zone.

Day higher zone on Nifty is 17,150-17,200, above that 17,225-17,300 is a strong Profit booking zone.

Day support zone on Bank Nifty is 34,700-34,850, below that 34,400-34,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,225-35,325, above that 35,475-35,625 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,000-17,150, while the medium and bigger day ranges are 16,950-17,200 and 16,915-17,250, respectively.

The small day range for trading on Bank Nifty is 34,850-35,325, while the medium and bigger day ranges are 34,600-35,475 and 34,450-35,550, respectively.

FIIs long position increased to 67% Vs 66%.

PCR near overbought at 1.25 Vs 1.00, Cautious at higher levels.

India VIX up by 6% at 17.12.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16,950.

Bank Nifty Intraday and Closing stop loss are 34,850.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,250.

Bank Nifty Intraday stop loss is 35,500 and Closing stop loss is 35,200.

For New Positions:

Buy Nifty with a stop loss of 16,950 and target 17,150, 17,175, 17,200, 17,225, 17,250, 17,300.

Sell Nifty in 17200-17300 range with a stop loss of 17,400 and target 17,150, 17,120, 17,085, 17,025, 17,000.

For New Positions:

Buy Bank Nifty in 34,600-34,850 range with a stop loss of 34,400 and target 35,025, 35,125, 35,225, 35,325.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 34,850 and target 35,225, 35,325, 35,475, 35,525, 35,625, 35,700.

Sell Bank Nifty in 35,450-35,625 range with a stop loss of 35,700 and target 35,325, 35,225, 35,150, 35,050.

F&O Ban Update:

New In Ban: RBL Bank

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

Out Of Ban: Nil

Stock Of The Day:

Buy UPL Futures: Stop loss 740 and target 775, 790, 800, 850. Focus on Chemical and Fertilizer stocks till budget.

Supriya Lifesciences Listing Preview: Expected to list in 400-450 range against issue price of 274. Investors should HOLD with a Stop Loss of 375 and keep trailing.