Amid negative global markets, negative domestic institutional investors (DIIs), positive 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 Thursday, November 10, 2022.

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Nifty support zone 18000-18075, Below that 17900-17950 Strong Buy zone

Nifty higher zone 18200-18250, Above that 18300-18350 Profit booking zone

Bank Nifty support zone 41525-41675, Below that 41300-41425 Strong Buy zone

Bank Nifty higher zone 41850-41950, Above that 42050-42200 Profit booking zone

Nifty support levels 18125, 18075, 18050, 18000, 17950, 17900

Nifty higher levels 18175, 18200, 18250, 18300, 18350

Bank Nifty support levels 41675, 41525, 41475, 41425, 41350, 41300

Bank Nifty higher levels 41850, 41950, 42050, 42150, 42200, 42300

- FIIs Index Long at 58% Vs 57%

- PCR at 0.86 Vs 1.04

- Bank Nifty PCR at 1.04 Vs 1.11

- India VIX up by 2% at 15.92

Also Read: Stock Market LIVE: US midterm election results disappoint Wall Street, frontline indices crash; SGX Nifty trades in red

For Existing Long Positions:

Nifty Intraday n Closing STOP LOSS 17975

Bank Nifty Intraday STOP LOSS 41475 n Closing STOP LOSS 41250

For Existing Short Positions:

Nifty Intraday n Closing STOP LOSS 18300

Bank Nifty Intraday n Closing STOP LOSS 42000

For New Positions:

Buy Nifty in 18000-18075 range:

STOP LOSS 17900 Target 18125, 18150, 18175, 18200, 18250, 18300

Aggressive Traders Sell Nifty in 18250-18300 range:

Strict STOP LOSS 18350 Target 18200, 18175, 18150, 18125, 18075, 18050

For New Positions:

Buy Bank Nifty in 41425-41525 range:

STOP LOSS 41250 Target 41675, 41775, 41850, 41950, 42050, 42200

Aggressive Traders Sell Bank Nifty in 41950-42050 range:

Strict STOP LOSS 42200 Target 41850, 41775, 41675, 41525, 41475, 41425

F&O Ban Update:

New In Ban: PNB

Out Of Ban: Nil

Already In Ban: Nil

Archean Chemical Industries IPO Preview:

HIGH RISK TAKING INVESTORS STRICTLY APPLY FOR LISTING GAINS

Positives:

High demand high margin product

Impressive financial track record

Reasonable valuations

Negatives:

High interest on debt

40% revenue from China

Question mark on transparency and governance