Anil Singhvi’s Strategy November 22: Day support zone on Nifty is 17625-17700 & Bank Nifty is 37575-37750

Amid positive domestic institutional investors (DIIs) and future & options (F&O) data, neutral global markets cues, negative foreign institutional investors (FIIs), the sentiment of the market remains cautious and trend neutral on Monday.  

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The Indian equity benchmarks Sensex and Nifty50 extended their losses on Thursday in the holiday-truncated last week. Headline indices Sensex ended 372 points lower, while Nifty50 gave up 17,800 to close at 17,745.35 and 59,636.01 respectively. Nifty slipped by 153.30 points or 0.86 % on Thursday.

Auto, financial and tech shares dragged the market the most on the last trading day of the week amid two IPOs—Paytm and Sapphire Foods — making weak to decent listing on Thursday.  Banking shares and Nifty giant Reliance Industries lent support to the market.

Banking Index Nifty Bank closed Thursday just shades below 38,000-mark. The banking index settled 65 points lower to 37,976.25.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 22:

Day support zone on Nifty is 17625-17700; below that 17500-17575 is strong Buy zone
Day higher zone on Nifty is 17800-17875; above that 17900-17950 is strong Sell zone

Day support zone Bank Nifty is 37575-37750;  below that 37350-37450 is strong support zone
Day higher zone on Bank Nifty is 38225-38300; above that 38450-38600 is strong Sell zone

Small day range on Nifty is17675-17800 , medium range is 17625-17875, while bigger day range is 17575-17900.  
Small Day Range on Bank Nifty is 37750-38225, medium range is 37575-38300, while nigger range is 37450-38450
 
FIIs Index long decreased to 54% Vs 55%
PCR oversold at 0.88 Vs 0.81, Short covering expected from lower levels
India VIX down by 1% at 14.86

For Existing Long Positions:
 Nifty Intraday Stoploss is 17600 and Closing Stoploss is 17670
Bank Nifty Intraday and Closing stoploss is 37750
 
For Existing Short Positions:
 Nifty Intraday and Closing SL 17950
Bank Nifty Intraday and Closing SL 38300
 
For New Positions:
Buy Nifty in 17625-17700 range
Stoploss:17500;  Targets: 17775, 17800, 17825, 17875
 
Aggressive Traders Buy Nifty:
Strict stoploss: 17675;  Targets: 17800, 17825, 18875, 17900, 17950
 
Sell Nifty in 17875-17950 range:
Stoploss 18,050; Targets: 17825, 17800, 17775, 17700

Aggressive Traders Sell Nifty:
Strict stoploss: 17950; Targets: 17700, 17675, 17625, 17575

For New Positions:
 Sell BankNifty in 38225-38450 range:
SL 38600 Tgt 38050, 37975, 37750
 
Aggressive Traders Sell BankNifty:
Strict SL 38300 Tgt 37750, 37650, 37575, 37525, 37425, 37350
 
Buy BankNifty in 37525-37650 range:
SL 37350 Tgt 37750, 37825, 37975, 38050, 38225
 
Aggressive Traders Buy BankNifty:
Strict SL 37750 Tgt 38050, 38225, 38300, 38450, 38550

F&O Ban Update:
New In Ban: Escorts, Vodafone Idea  
Out Of Ban: IRCTC, IBulls Housing Fin
Already In Ban: NALCO, BHEL, Sun TV, SAIL