Anil Singhvi’s Strategy September 15: Day support zone on Nifty is 17,300-17,350 & Bank Nifty is 36,325-36,475

Amid negative global markets, positive foreign institutional investors (FIIs), future & options (F&O), sentiment and neutral domestic institutional investors (DIIs), cues, the short-term trend of the Indian stock markets will be positive on Wednesday, September 15, 2021. 

Domestic equity markets ended a volatile trading session with minor gains on Tuesday, September 14, 2021. The S&P BSE Sensex rose 69.33 points or 0.12 per cent to end at 58,247.09. The Nifty 50 index gained 24.70 points or 0.14 per cent to close at 17,380. The Nifty Bank index closed 141.25 points or 0.39 per cent higher at 36,613.05.

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The broader markets outperformed the Sensex with S&P BSE MidCap rallied 1.09 per cent while S&P BSE SmallCap rose 0.63 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 15:

Day support zone on Nifty is 17,300-17,350, below that 17,200-17,275 is a strong Buy zone.

Day higher zone on Nifty is 17,400-17,430, above that 17,475-17,525 is a Profit-booking zone. 

Day support zone on Bank Nifty is 36,325-36,475, below that 36,050-36,200 is a strong Buy zone. 

Day higher zone on Bank Nifty is 36,750-36,850, above that 36,900-37,100 is a strong Sell zone. 

The small day range for trading on Nifty is 17,350-17,430, while the medium and bigger day ranges 17,300-17,475 and 17,250-17,525, respectively.

The small day range for trading on Bank Nifty is 36,475-36,750, while the medium and bigger day ranges are 36,325-36,850 and 36,200-37,000, respectively. 

FIIs Index long at 60% Vs 61%.

PCR near the oversold level at 1.19 Vs 1.33, short covering expected at lower levels.

India VIX was down by 3% at 13.58.

For Existing Long Positions:

Nifty Intraday stop loss is 17,250 and Closing stop loss is 17,300.

Bank Nifty Intraday and Closing stop loss are 36,300.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,500.

Bank Nifty Intraday stop loss is 37,000 and Closing stop loss is 36,850.

For New Positions:

Buy Nifty with a stop loss of 17,250 and target 17,400, 17,430, 17,475, 17,500.

Sell Nifty in 17,475-17,525 range with a stop loss of 17,550 and target 17,440, 17,400, 17,375, 17,350, 17,300.

For New Positions:

Buy Bank Nifty in 36,325-36,475 range with a stop loss of 36,150 and target 36,550, 36,600, 36,675, 36,750, 36,850.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 36,300 and target 36,675, 36,750, 36,850, 36,925, 37,000.

Sell Bank Nifty in 36,750-36,850 range with a stop loss of 37,000 and target 36,600, 36,550, 36,475, 36,425, 36,350.

F&O Ban Update:

4 Stocks Enters In Ban: Voda-Idea, IRCTC, Sun Tv, Escorts

Out Of Ban: Indiabulls Housing

4 Already In Ban: Exide Ind, LIC Housing Finance, Canara Bank, NALCO

Stock Of The Day:

Buy Force Motors: Stop loss 1450 and target 1550, 1600, 1750. Force Motors to launch SUV Gurkha today to compete with Mahindra Thar.