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

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Benchmark indices ended with strong gains on Tuesday, December 21, 2021, amid bargain hunting after a recent steep fall. The Sensex closed above 58,300 and the Nifty settled above 16,750. The S&P BSE Sensex rose 497 points, or 0.89 per cent, to close at 56,319.01. The Nifty 50 index gained 156.65 points, or 0.94 per cent, to settle at 16,770.85. The Nifty Bank climbed 168 points, or 0.49 per cent to end at 34,607.85.

In the broader market at BSE, the Mid-Cap and the Small-Cap indices performed better than the Sensex. The Mid-Cap gained 1.43 per cent and the Small-Cap index rose 1.29 per cent.

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

Day support zone on Nifty is 16,775-16,840, below that 16,625-16,700 is a strong Buy zone.

Day higher zone on Nifty is 16,890-16,925, above that 16,965-17,050 is a strong Profit booking zone.

 

Day support zone on Bank Nifty is 34,400-34,600, below that 33,900-34,025 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,900-35,050, above that 35,225-35,325 is a strong Profit booking zone.

 

The small day range for trading on Nifty is 16,775-16,890, while the medium and bigger day ranges are 16,700-16,925 and 16,625-16,985, respectively.

The small day range for trading on Bank Nifty is 34,600-34,975, while the medium and bigger day ranges are 34,400-35,225 and 34,025-35,325, respectively.

 

FIIs long position at 66% Vs 53%

PCR oversold at 0.88 Vs 0.72, Short covering expected

India VIX down by 7% at 17.54

 

For Existing Long Positions:

Nifty Intraday stop loss is 16,675 and Closing stop loss is 16,600.

Bank Nifty Intraday and Closing stop loss are 34,350.

 

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,000.

Bank Nifty Intraday and Closing stop loss are 35,050.

 

For New Positions:

Buy Nifty with a stop loss of 16,675 and target 16,840, 16,875, 16,925, 16,965, 16,985, 17,050.

Sell Nifty in 16,975-17,050 range with a stop loss of 17,150 and target 16,935, 16,890, 16,840, 16,775, 16,700.

For New Positions:

Buy Bank Nifty with a stop loss of 34,350 and target 34,900, 34,975, 35,050, 35,125, 35,225, 35,325.

Sell Bank Nifty in 35,225-35,325 range with a stop loss of 35,525 and target 35,050, 34,975, 34,900, 34,800, 34,700, 34,625.

 

F&O Ban Update:

New In Ban: Zee Entertainment.

Already In Ban: IB Housing Finance, Escorts

Out Of Ban: Nil

 

Metro Brands Listing Preview: Expected to list below the issue price of 500. Long Term Investors can BUY in case of Big Fall.