Anil Singhvi Strategy January 9: Day support zone on Nifty is 17850-17900 & Bank Nifty is 42025-42200

Triggers from global markets are favourable for Indian markets, especially the Friday show from US markets is a big positive, Zee Business Managing Editor Anil Singhvi said. Nifty closed near an important support level on Friday, so the opportunity for recovery is there for this 50-share index, Singhvi said while spelling out his strategy for Nifty and Bank Nifty on Monday. 

Amid positive global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), positive futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, January 9, 2023.

Nifty support zone 17850-17900, Below that 17775-17800 Strong Buy zone

Nifty higher zone 17975-18025, Above that 18050-18125 Strong Sell zone

Bank Nifty support zone 42025-42200, Below that 41675-41875 Strong Buy zone

Bank Nifty higher zone 42500-42700, Above that 42825-42950 Strong Sell zone

Nifty support levels 17900, 17850, 17800, 17775

Nifty higher levels 17975, 18000, 18025, 18065, 18100, 18125

Bank Nifty support levels 42200, 42025, 41950, 41875, 41675, 41575

Bank Nifty higher levels 42400, 42500, 42625, 42700, 42825, 42950

- FIIs Index Long unchanged at 41%

- PCR at 0.75 Vs 0.97

- Bank Nifty PCR Oversold at 0.58 Vs 0.72

- India VIX unchanged at 15.03

For Existing Long Positions:

Nifty intraday and closing STOP LOSS 17775
Bank Nifty intraday STOP LOSS 41850 and Closing STOP LOSS 42200  

For Existing Short Positions:

Nifty intraday STOP LOSS 18125 n closing STOP LOSS 18200
Bank Nifty intraday STOP LOSS 42700 and closing STOP LOSS 43000

For New Positions:

Buy Nifty:
STOP LOSS 17775 Target 17975, 18000, 18025, 18065, 18100, 18125

Sell Nifty in 18050-18125 range:
STOP LOSS 18200 Target 18000, 17975, 17900, 17850, 17800

For New Positions:

Buy BankNifty:
STOP LOSS 41850 Target 42400, 42500, 42625, 42700, 42825, 42950

Sell Bank Nifty in 42675-42825 range:
STOP LOSS 43000 Target 42600, 42500, 42400, 42300, 42225, 42025, 41875

F&O Ban Update:
Already In Ban: Ibull Housing Finance
New In Ban: Nil
Out Of Ban: Nil