Anil Singhvi Strategy December 29: Day support zone on Nifty is 17975-18025 & Bank Nifty is 42400-42625

Global market cues remain weak as US markets closed lower than expected, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He said that it will be interesting to see as to what extent Indian markets will be able to digest this loss today which is also a day of monthly expiry. Expect some pressure to trickle down in our markets, he added. Amid negative global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, December 29, 2022.  

Nifty support zone 17975-18025, Below that 17775-17825 Strong Buy zone

Nifty higher zone 18150-18200, Above that 18250-18275 Profit Booking zone

Bank Nifty support zone 42400-42625, Below that 42075-42300 Strong Buy zone

Bank Nifty higher zone 42925-43075, Above that 43150-43300 Profit Booking zone

Nifty support levels 18075, 18025, 17975, 17925, 17825, 17800, 17775

Nifty higher levels 18150, 18175, 18200, 18250, 18275

Bank Nifty support levels 42700, 42625, 42550, 42400, 42300, 42225, 42125, 42075

Bank Nifty higher levels 42925, 43025, 43100, 43150, 43225, 43300, 43375

Read More: Stock Market Today LIVE: Sensex, Nifty to open amid weak global cues; SGX Nifty in red

- FIIs Index Long at 48% Vs 47%

- PCR at 1.12 Vs 1.11

- Bank Nifty PCR at 1.14 Vs 1.36

- India VIX up by 1% at 15.40

For Existing Long Positions:

Nifty Intraday STOP LOSS 17950 and closing STOP LOSS 17800

Bank Nifty Intraday STOP LOSS 42400 and closing STOP LOSS 42200

For Existing Short Positions:

Nifty Intraday and closing STOP LOSS 18275

Bank Nifty Intraday and closing STOP LOSS 43100

For New Positions:

Aggressive Traders Buy Nifty in 17950-18025 range:

Strict STOP LOSS 17775 Target 18075, 18125, 18150, 18175, 18200, 18250

Sell Nifty:

STOP LOSS 18275 Target 18075, 18025, 17975, 17925, 17850, 17800, 17775

For New Positions:

Aggressive Traders Buy BankNifty in 42225-42400 range:

Strict STOP LOSS 42000 Target 42550, 42625, 42700, 42825, 42925, 43025

Sell Bank Nifty:

STOP LOSS 43100 Target 42700, 42625, 42550, 42400, 42300, 42225, 42125, 42075

F&O Ban Update:

Out Of Ban: PNB

Already In Ban: IB Housing Finance, Balrampur ChiniNew In Ban: Nil

KFin Technologies Listing Preview:

Expected to list near issue price of 366

Long Term Investors can HOLD

Short Term Investors keep Stoploss of 350