Amid neutral global markets, domestic institutional investors (DIIs), future & options (F&O), positive foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, January 10, 2022. 

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The domestic equity markets witnessed modest gains on Friday, January 7, 2022. The Sensex closed near 59,750 points while the Nifty settled near the 17,800 level.

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The BSE Sensex climbed 142.81 points, or 0.24 per cent to trade at 59,744.65. The NSE Nifty also rose 66.80 points, or 0.38 per cent, to trade at 17,812.70. The Bank Nifty index added 249.35 points, or 0.67 per cent, to close at 37,739.60.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 10:

Day support zone on Nifty is 17,700-17,750, below that 17,600-17,650 is a strong Buy zone.

Day higher zone on Nifty is 17,900-17,950, above that 18,000-18,075 is a strong Profit booking zone.  

Day support zone on Bank Nifty is 37,425-37,500, below that 37,050-37,150 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,975-38,125, above that 38,300-38,450 is a strong Profit booking zone.

The Small Day Range for trading on Nifty is 17,750-17,900, while the medium and bigger day ranges are 17,700-17,950 and 17,650-18,000, respectively.

The Small Day Range for trading on Bank Nifty is 37,500-37,975, while the medium and bigger day ranges are 37,425-38,125 and 37,050-38,300, respectively.

FIIs long position increased to 68% Vs 66%.

PCR at 1.26 Vs 1.37.

India VIX down by 2% at 17.60.

For Existing Long Positions:

Nifty Intraday stop loss is 17,650 and Closing stop loss is 17,700.

Bank Nifty Intraday and Closing stop loss are 37,400.

For Existing Short Positions:

Nifty Intraday stop loss is 18,000 and Closing stop loss is 17,925.

Bank Nifty Intraday stop loss is 38,000 and Closing stop loss is 37,750.

For New Positions:

Buy Nifty in 17700-17750 range with a stop loss of 17,600 and target 17,800, 17,825, 17,900, 17,925, 17,950.

Aggressive Traders Buy Nifty with a strict stop loss of 17,700 and target 17,900, 17,925, 17,950, 18,000, 18,025, 18,075.

Sell Nifty in 17950-18025 range with a stop loss of 18,100 and target 17,900, 17,825, 17,800, 17,750, 17,700.

For New Positions:

Buy Bank Nifty in 37,425-37,525 range with a stop loss of 37,350 and target 37,700, 37,750, 37,850, 37,975, 38,125.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 37,400 and target 37,975, 38,125, 38,200, 38,300, 38,450, 38,550.

Sell Bank Nifty in 38,450-38,550 range with a stop loss of 38,625 and target 38,300, 38,200, 38,125, 38,000, 37,900, 37,750.

F&O Ban Update:

New In Ban: Delta Corp

Already In Ban: RBL Bank

Out Of Ban: Nil