Global market cues remain weak as US markets did not close with the same strength as was expected, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He expects range bound movement today as volumes remain low on account of monthly expiry on Thursday. Amid neutral global markets, positive domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, December 28, 2022.  

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Nifty support zone 17950-18025, Below that 17775-17825 Strong Buy zone

Nifty higher zone 18150-18200, Above that 18250-18275 Profit Booking zone

Bank Nifty support zone 42550-42625, Below that 42225-42400 Strong Buy zone

Bank Nifty higher zone 42950-43100, Above that 43225-43375 Profit Booking zone

Nifty support levels 18075, 18025, 17975, 17925, 17825, 17800, 17775

Nifty higher levels 18150, 18175, 18200, 18250, 18275

Bank Nifty support levels 42750, 42625, 42550, 42400, 42300, 42225, 42125, 42075

Bank Nifty higher levels 42925, 43075, 43150, 43225, 43300, 43375

Read More: Stock Market Today LIVE: Sensex, Nifty to open amid mixed global cues; SGX Nifty in red, minor gains for Dow Futures

- FIIs Index Long unchanged at 47%

 

- PCR at 1.11 Vs 0.96

- Bank Nifty PCR at 1.36 Vs 1.29

- India VIX down by 4% at 15.29

For Existing Long Positions:

Nifty Intraday and closing stop loss17950

Bank Nifty Intraday and closing stop loss 42200

For Existing Short Positions:

Nifty Intraday and closing stop loss 18275

Bank Nifty Intraday and closing stop loss 43000

For New Positions:

Buy Nifty in 17950-18025 range:

Stop Loss17775 Target 18075, 18125, 18150, 18200, 18250, 18275

Sell Nifty:

Stop Loss 18275 Target 18075, 18025, 17975, 17925, 17850, 17800, 17775

For New Positions:

Aggressive Traders Buy Bank Nifty in 42225-42400 range:

Strict STOP LOSS42000 Target 42550, 42625, 42750, 42850, 42925, 43075, 43150

Aggressive Traders Sell Bank Nifty:

Strict STOP LOSS 43075 Target 42750, 42625, 42550, 42400, 42300, 42225

F&O Ban Update:

New In Ban: IB Housing Finance, Balrampur Chini

Already In Ban: PNB

Out Of Ban: Nil