Amid positive global markets, domestic institutional investors (DIIs), sentiment, negative foreign institutional investors (FIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Thursday, December 30, 2021. 

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Domestic equity benchmarks snapped the two-day winning run and ended with minor cuts after a volatile session on Wednesday, December 29, 2021. The S&P BSE Sensex shed 90.99 points, or 0.16 per cent, to 57,806.49. The Nifty 50 index lost 19.65 points, or 0.11 per cent, to 17,213.60. In the sectoral indices at the NSE, the Nifty Bank declined 138.40 points, or 0.39 per cent, to end at 35,045.40.

The broader markets at the BSE outperformed the Sensex with S&P BSE MidCap rising 0.13 per cent and S&P BSE SmallCap closing with a gain of 0.49 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 30: 

Day support zone on Nifty is 17,120-17,160, below that 17,025-17,085 is a strong Buy zone.

Day higher zone on Nifty is 17,250-17,300, above that 17,325-17,400 is a strong Profit booking zone.

Day support zone on Bank Nifty is 34,850-34,900, below that 34,400-34,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,200-35,350, above that 35,475-35,625 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,160-17,275, while the medium and bigger day ranges are 17,120-17,325 and 17,085-17,375, respectively.

The small day range for trading on Bank Nifty is 34,850-35,200, while the medium and bigger day ranges are 34,600-35,350 and 34,450-35,475, respectively.

FIIs long position decreased to 64% Vs 66%.

PCR at 1.19 Vs 1.34.

India VIX is down by 1.5% at 16.24.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,000.

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

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,325.

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

For New Positions:

Buy Nifty in 17085-17175 range with a stop loss of 17,000 and target 17,225, 17,250, 17,275, 17,300, 17,325.

Aggressive Traders Buy Nifty with a strict stop loss of 17,150 and target 17,250, 17,275, 17,300, 17,325, 17,350, 17,375.

Sell Nifty in 17275-17375 range with a stop loss of 17,450 and target 17,235, 17,215, 17,175, 17,150, 17,120.

For New Positions:

Buy Bank Nifty in 34,400-34,600 range with a stop loss of 34,250 and target 34,700, 34,800, 34,850, 34,900, 35,000.

Aggressive Traders Buy Bank Nifty in 34,850-34,900 range with a strict stop loss of 34,800 and target 35,025, 35,125, 35,200, 35,325, 35,375, 35,475.

Sell Bank Nifty in 35,325-35,475 range with a stop loss of 35,625 and target 35,225, 35,175, 35,125, 35,050, 34,900, 34,850.

Aggressive Traders Sell Bank Nifty with a strict stop loss of 35,400 and target 34,900, 34,850, 34,700, 34,600, 34,450.

F&O Ban Update:

Already In Ban: RBL Bank, Vodafone Idea, IB Housing Finance

New In Ban: Nil

Out Of Ban: Nil