Anil Singhvi’s Strategy January 5: Day support zone on Nifty 17,600-17,650 & Bank Nifty is 36,375-36,500

Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and negative future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, January 5, 2022. 

Benchmark indices rose more than one per cent on Tuesday, January 4, 2022. Both indices gained amid positive global cues. The Sensex closed above 59,800 and the Nifty settled above the 17,800 level. The BSE Sensex climbed 672.71 points, or 1.14 per cent to trade at 59,855.93. The NSE Nifty also surged 170.55 points, or 1.02 per cent, to trade at 17,805.25. Similarly, Bank Nifty added 418.25 points or 1.15 per cent to settle at 36,8490.15.

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In the broader market at BSE, the Mid-Cap added 0.05 per cent and the Small-Cap index surged 0.39 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 5:

Day support zone on Nifty 17,600-17,650.

Day higher zone on Nifty is 17,825-17,875, above that 17,900-18,000 is a strong Profit booking zone.

Day support zone on Bank Nifty is 36,375-36,500, below that 36,025-36,200 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,050-37,150, above that 37,275-37,450 is a strong Profit booking zone.

The small day range for trading on Nifty on 17,700-17,825, while the medium and bigger ranges are 17,625-17,875 and 17,600-17,950, respectively.

The small day range for trading on Bank Nifty is 36,500-37,050, while the medium and bigger ranges are 36,350-37,150 and 36,025-37,275, respectively.

FIIs long position increased to 73% Vs 70%.

PCR unchanged at 1.57, Overbought, Profit booking expected.

India VIX down by 2% at 16.12.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,575.

Bank Nifty Intraday and Closing stop loss are 36,350.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,900.

Bank Nifty Intraday and Closing stop loss are 37,050.

For New Positions:

Buy Nifty in 17600-17650 range with a stop loss of 17,550 and target 17,700, 17,750, 17,800, 178,25.

Sell Nifty with a stop loss of 17,900 and target 17,750, 17,700, 17,650, 17,625, 17,600.

For New Positions:

Buy Bank Nifty in 36,375-36,525 range with a stop loss of 36,200 and target 36,625, 36,800, 36,875, 37,050.

Aggressive Traders Buy Bank Nifty on Gap-down Opening with a Strict Stop loss of 36,350 and target 36,875, 37,050, 37,150, 37,275, 37,450.

Sell Bank Nifty in 37,150-37,375 range with a stop loss of 37,525 and target 37,050, 36,900, 36,850, 36,625, 36,525.

Aggressive Traders Sell Bank Nifty with a Strict Stop loss of 37,050 and target 36,525, 36,425, 36,375, 36,200, 36,025.

No Stocks in F&O Ban