Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Friday, December 24, 2021. 

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Domestic stock markets ended with modest gains on Thursday, December 23, 2021. The Sensex climbed above 57,000 while the Nifty was up above the 17,000 level. The S&P BSE Sensex rose 384.72 points, or 0.68 per cent, to 57,315.28. The Nifty 50 index gained 117.15 points, or 0.69 per cent, to 17,072.60. The Bank Nifty closed 161.65 points, or 0.46 per cent, higher at 35,191.15.

The broader markets at the BSE underperformed the Sensex with S&P BSE MidCap and BSE SmallCap closing 1.01 per cent and 0.73 per cent higher, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 24: 

The trend will change from Negative to Neutral if Nifty closes above 17,250.

Day support zone on Nifty is 16,965-17,015, below that 16,825-16,890 is a strong Buy zone

Day higher zone on Nifty is 17,150-17,200, above that 17,225-17,300 is a strong Profit booking zone.

 

Day support zone on Bank Nifty is 35,025-35,125, below that 34,600-34,700 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,450-35,525, above that 35,625-35,850 is a strong Profit booking zone.

 

The small day range for trading on Nifty is 17,015-17,150, while the medium and bigger day ranges are 16,965-17,200 and 16,915-17,250, respectively.

The small day range for trading on Bank Nifty is 35025-35450, while the medium and bigger day ranges are 34,700-35,525 and 34,600-35,625, respectively.

 

FIIs long position increased to 66% Vs 63%

PCR at 1.11 Vs 1.01

India VIX down by 4% at 15.83

 

For Existing Long Positions:

Nifty Intraday and closing stop loss are 16,950.

Bank Nifty Intraday and closing stop loss are 34,900.

 

For Existing Short Positions:

Nifty Intraday and closing stop loss are 17,250.

Bank Nifty Intraday and closing stop loss are 35,550.

 

For New Positions:

Buy Nifty with a stop loss of 16,950 and target 17,150, 17,175, 17,200, 17,225, 17,250, 17,300.

Sell Nifty in 17,150-17,300 range with a stop loss of 17,350 and target 17,075, 17,015, 16,985, 16,965, 16,915.

 

For New Positions:

Buy Bank Nifty with a stop loss of 34,950 and target 35,325, 35,450, 35,525, 35,625, 35,700, 35,850.

Sell Bank Nifty in 35,450-35,625 range with a stop loss of 35,850 and target 35,325, 35,225, 35,125, 35,050.

 

F&O Ban Update:

Already In Ban: Vodafone Idea, Zee Enterprises, Indiabulls Housing Finance, Escorts

New In Ban: Nil

Out Of Ban: Nil

 

Data Patterns Listing Preview: Expected to list in 850-900 range against issue price of 585. Short Term Investors keep Stop Loss of 775 and HOLD.