Anil Singhvi’s Strategy September 22: Day support zone on Nifty is 17,400-17,440 & Bank Nifty is 37,050-37,150

Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and positive future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, September 22, 2021. 

Domestic equity indices ended near the day’s high after a volatile trade till afternoon on Tuesday, September 21, 2021. The S&P BSE Sensex advanced 514.34 points or 0.88 per cent to close at 59,005.27. The Nifty 50 index added 165.10 points or 0.95 per cent and closed at 17,562. The Bank Nifty rose 90.15 points or 0.24 per cent to 37,235.85. 

See Zee Business Live TV Streaming Below:

The broader markets underperformed Sensex at the BSE with S&P BSE MidCap rising 0.79 per cent and S&P BSE SmallCap rising 0.14 per cent.

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

The trend will change only if Nifty closes below the 17,275-17,350 range and Bank Nifty closes below the 36,700-36,850 range.

Day support zone on Nifty is 17,400-17,440, below that 17,325-17,375 is a strong Buy zone.

Day higher zone on Nifty is 17,625-17,650, above that 17,700-17,775 is a Profit-booking zone.

Day support zone on Bank Nifty is 37,050-37,150, below that 36,600-36,850 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,300-37,400, above that 37,675-37,800 is a Profit-booking zone.

The small day range for trading on Nifty is 17,500-17,625, while the medium and bigger day ranges are 17,440-17,700 and 17,350-17,775, respectively. 

The small day range for trading on Bank Nifty is 37,075-37,400, while the medium and bigger day ranges are 36,850-37,675 and 36,600-37,800, respectively. 

FIIs Index long increased to 61 Vs 60% 

PCR still lower at 1.15 Vs 0.98, Buying support expected at a lower level

India VIX down by 5% at 16.52

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,325.

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

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,650.

Bank Nifty Intraday and Closing stop loss are 37,500.

For New Positions:

Buy Nifty in 17325-17400 range with a stop loss of 17,275 and target 17,440, 17,500, 17,525, 17,575.

Aggressive Traders Buy Nifty in 17,440-17,500 range with a strict stop loss of 17,350 and target 17,575, 17,625, 17,700, 17,775.

Sell Nifty in 17,700-17,775 range with a stop loss of 17,825 and target 17,640, 17,600, 17,575, 17,525.

Aggressive Traders Sell Nifty with a strict stop loss of 17,650 and target 17,525, 17,500, 17,440, 17,400, 17,350.

For New Positions:

Buy Bank Nifty in 36700-36850 range with a stop loss of 36,500 and target 36,975, 37,050, 37,150, 37,250, 37,300, 37,400.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 36,850 and target 37,400, 37,500, 37,675, 37,800.

Sell Bank Nifty in 37,650-37,800 range with a stop loss of 38,000 and target 37,550, 37,400, 37,300, 37,150.

Aggressive Traders Sell Bank Nifty with a strict stop loss of 37,500 and target 37,150, 37,000, 36,925, 36,850, 36,750, 36,600.

F&O Ban Update:

Out Of Ban: SAIL, Exide Industries, NALCO

5 Already In Ban: Vodafone-Idea, IRCTC, PNB, Indiabulls Housing Finance, Sun Tv

New In Ban: Nil