Anil Singhvi’s Strategy November 23: Day support zone on Nifty is 18200-18250 & Bank Nifty is 42200-42350

Indian markets are likley to trade positively on Wednesday amid favourable gloabal market cues and Bank Nifty could hit yet another life time high says Zee Business Managing Editor Anil Singhvi. Markets may look to gain momentum ahead of the weekly expiry on Thursday. Amid positive global markets, positive domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), neutral futures & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, November 23, 2022.   

Nifty support zone 18200-18250, Below that 18125-18175 Strong Buy zone

Nifty higher zone 18300-18350, Above that 18400-18450 Profit booking zone

Bank Nifty support zone 42200-42350, Below that 42075-42125 Strong Buy zone

Bank Nifty higher zone 42525-42625, Above that 42700-42850 Profit booking zone

Nifty support levels 18200, 18175, 18150, 18125

Nifty higher levels 18275, 18300, 18325, 18350, 18400, 18425

Bank Nifty support levels 42350, 42300, 42250, 42200, 42125

Bank Nifty higher levels 42525, 42575, 42625, 42675, 42750, 42800

Read More: Stock Market Today Live: Cues positive for Sensex, Nifty; SGX Nifty up, Dow positive

- FIIs Index Long at 68% Vs 63%
- PCR at 0.99 Vs 0.79
- Bank Nifty PCR at 1.09 Vs 1.00
- India VIX down by 6.5% at 13.84

For Existing Long Positions:

Nifty Intraday n Closing STOP LOSS 18125

Bank Nifty Intraday n Closing STOP LOSS 42200

For Existing Short Positions:

Nifty Intraday n Closing STOP LOSS 18450

Bank Nifty Intraday n Closing STOP LOSS 42650

For New Positions:

Buy Nifty:

STOP LOSS 18125 Target 18275, 18300, 18325, 18350, 18400, 18425

Sell Nifty in 18350-18425 range:

STOP LOSS 18500 Target 18300, 18275, 18250, 18200, 18150

For New Positions :

Buy Bank Nifty:

STOP LOSS 42000 Target 42525, 42575, 42625, 42675, 42750, 42800

Aggressive Traders Sell Bank Nifty in 42575-42625 range:

Strict STOP LOSS 42700 Target 42525, 42450, 42375, 42300, 42250, 42200

F&O Ban Update:  

Out Of Ban: Escorts, PNB, IB Housing, Sun TV, GNFC

Inox Green Energy Listing Preview:

Expected to list around issue price of 65

Short Term Investors keep stoploss of 60