Amid neutral global markets, negative foreign institutional investors (FIIs) and positive domestic institutional investors (DIIs) and future & options (F&O) cues, the overall sentiment and trend of the markets will be negative on Tuesday, November 23, 2021.  

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Earlier, the stock markets gave up all crucial support levels as Sensex slipped 1170 points and Nifty shed 324 points to settle at 17,417. Both headline indices corrected 1.96% each as bears too control of the stock markets.  Reliance Industries, Paytm, Bajaj Finance, Bajaj Finserv, Tata Motors and NTPC contributed the most in this market fall amid multiple factors.  

Broader markets also followed benchmark indices as both midcap and small-cap indices slumped more than 2% each. Bank Nifty slumped over 800 points to settle at 37,129. Besides, all major indices Nifty Realty, Media, PSU Bank & auto were in the red and fell up to 4%. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 23:

Trend to change neutral again only if Nifty and Bank Nifty close above 17800 and 38300
 
Day support zone on Nifty is 17250-17325; below that 17150-17200 is a strong Buy zone
Day higher zone on Nifty is 17450-17525; above 17575-17650 is a strong sell zone

Day support zone on Bank Nifty is 36550-36675; below that 36,350-36,425 is a strong support zone
 
Day higher zone on Bank Nifty is 37425-37575; above that 37,750-37,975 is a strong sell zone

Small day range on Nifty is 17325-17450, medium range is 17250-17525 and 17200-17600 is bigger range

Small day range on Bank Nifty is 36675-37350 , medium range is 36550-37525 and bigger range is 36350-37750
 
FIIs Index long unchanged at 54% 

PCR oversold at 0.67 Vs 0.88, short covering expected from lower levels 

India VIX up by 18% at 17.52

For Existing Long Positions:
 
Nifty Intraday and closing stoploss is 17,250
Bank Nifty Intraday and closing stoploss is 36650
 
For Existing Short Positions:
 
Nifty Intraday stoploss is 17525 and closing stoploss is 17675
Bank Nifty Intraday stoploss is 37550 and closing stoploss is 38050
 
For New Positions:
 
Sell Nifty:

Stoploss:17525; targets: 17325, 17275, 17250, 17200 and17150
 
Buy Nifty in 17200-17275 range:

Stoploss: 17100: targets are: 17325, 17400, 17440 and 17500
 
Aggressive Traders Buy Nifty:

Strict stoploss: 17250; targets: 17440, 17500, 17550, 17575 and 17600

For New Positions:
 
Sell Bank Nifty in 37750-37975 range:
Stoploss: 38225 |Targets: 37575, 37450, 37350, 37250, 37125
 
Aggressive Traders Sell Bank Nifty:
Strict Stoploss: 37550 |Targets: 36850, 36750, 36675, 36550, 36425, 36350
 
Buy Bank Nifty in 36350-36550 range:
Stoploss: 36150 | Targets: 36650, 36750, 36850, 36950, 37125, 37250

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

Latent View Listing Preview:
Expected to list around 500 against issue price of 197
Short term Investors keep stoploss of 450 and keep trailing