Anil Singhvi’s Strategy on December 1: Day support zone on Nifty is 16,800-16,925 & Bank Nifty is 35,325-35,525

Amid negative global sentiments, neutral foreign institutional investors (FIIs) data, positive domestic institutional investors (DIIs) and future & options (F&O) cues, the overall sentiment will be cautious and trend will remain negative on Wednesday, December 1, 2021.

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The S&P BSE Sensex fell by about 200 points, while the Nifty50 closed below 17000 as bears took control of D-Street in the second half of the trading session on Tuesday. The S&P BSE Mid-cap index rose 0.29 per cent, while the S&P BSE Small-cap index rose 1.4 per cent.

Nifty Bank remained under pressure on Tuesday as the banking index shed 281 points to settle at 35,695.30.  

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 1
 
Nifty 16800-16925 Day support zone, below that 16625-16700 strong buy zone
 
Nifty 17050-17150 Day higher zone, above that 17200-17350 strong sell zone

Bank Nifty 35325-35525 Day support zone, below that 34925-35125 strong support zone
 
Bank Nifty 35900-36025 Day higher zone, above that 36350-36650 strong sell zone
 
Nifty 16925-17050 Small Day Range, 16800-17150 Medium Range, 16700-17275 Bigger Range

Bank Nifty 35525-35975 Small Day Range, 35325-36350 Medium Range, Bigger Range 35125-36650

FIIs Index long increased to 71% Vs 66%
PCR at 0.89 Vs 0.84
India VIX UP 2% at 21.17

For Existing Long Positions:
 
Nifty Intraday and closing stoploss: 16900
Bank Nifty Intraday and Closing stoploss: 35300
 
For Existing Short Positions:
 
Nifty Intraday and closing stoploss: 17225
Bank Nifty Intraday and closing stoploss: 36350
 
For New Positions:
 
Aggressive Traders Buy Nifty
Strict stoploss: 16900; Targets:  17050, 17150, 17200, 17275, 17325

Buy Nifty in 16700-16800 range:
Stoploss 16600; Target: 16925, 16975, 17025, 17150
 
Sell Nifty in 17250-17350 range:
Stoploss: 17500; targets: 17200, 17150, 17050, 17000

For New Positions:
 
Aggressive Traders Buy Bank Nifty
Strict stoploss: 35300; targets:  35900, 35975, 36025, 36350, 36550, 36650

Buy Bank Nifty in 35325-35525 range:

Stoploss 35000; targets: 35700, 35900, 35975, 36350
Sell BankNifty in 36350-36650 range:

SL 36800 Tgt 36025, 35900, 35700, 35525

Aggressive Traders Sell Bank Nifty in 35900-36025 range:
Strict stoploss: 36150; Targets: 35700, 35525, 35325, 35125

F&O Ban Update:
Already In Ban: Indiabulls Housing Finance
New In Ban: Nil
Out Of Ban: Nil  

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