Anil Singhvi Strategy January 12: Day support zone on Nifty is 17775-17850 & Bank Nifty is 41725-41875

Positive closing of US markets ahead of December inflation numbers augurs well for stock markets, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He said that Indian markets are already in a weak territory and have not give enough reactions from global cues. If US markets gain from inflation numbers, local markets could give strong reaction on Friday, Singhvi added. 

Amid positive 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, January 12, 2023.

Nifty support zone 17775-17850, Below that 17650-17725 Strong Support zone

Nifty higher zone 17975-18050, Above that 18100-18150 Strong Sell zone

Bank Nifty support zone 41725-41875, Below that 41575-41675 Strong Support zone

Bank Nifty higher zone 42500-42600, Above that 42675-42825 Strong Sell zone

Nifty support levels 17850, 17825, 17800, 17775, 17725

Nifty higher levels 17975, 18000, 18025, 18050, 18100, 18125

Bank Nifty support levels 42125, 42025, 41875, 41825, 41725, 41675, 41575

Bank Nifty higher levels 42325, 42400, 42500, 42575, 42675, 42725, 42825

- FIIs Index Long at 40% Vs 41%

- PCR at 0.75 Vs 0.71

- Bank Nifty PCR at 0.81 Vs 0.57

- India VIX down by 0.5% at 15.44

For Existing Long Positions:

Nifty intraday and closing STOP LOSS 17750

Bank Nifty intraday STOP LOSS 41700 and closing STOP LOSS 42000

For Existing Short Positions:

Nifty intraday and closing STOP LOSS 18150

Bank Nifty intraday and Closing STOP LOSS 42725

Read More: Stock Market Today LIVE: Wall Street ends with gains ahead of US December inflation data; rub-off likely on Sensex, Nifty50

For New Positions:

Buy Nifty in 17775-17850 range:

STOP LOSS 17700 Target 17900, 17925, 17975, 18000, 18050

Aggressive Traders Buy Nifty:

Strict STOP LOSS 17775 Target 17975, 18000, 18025, 18050, 18100, 18125

Sell Nifty in 18050-18125 range:

STOP LOSS 18200 Target 18000, 17975, 17925, 17900, 17850, 17825

For New Positions:

Buy Bank Nifty in 41725-41875 range:

STOP LOSS 41500 Target 42025, 42125, 42225, 42300

Aggressive Traders Buy Bank Nifty:

Strict STOP LOSS 42000 Target 42325, 42400, 42500, 42575, 42675, 42725

Sell Bank Nifty in 42575-42725 range:

STOP LOSS 42850 Target 42500, 42400, 42325, 42225, 42125, 42025

F&O Ban Update:

Already In Ban: GNFC, IBull Housing Finance

New In Ban: Nil

Out Of Ban: Nil