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Anil Singhvi’s Strategy December 9: Day support zone on Nifty is 17,350-17,425 & Bank Nifty 36,850-37,000
Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Thursday.
Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Thursday, December 9, 2021.
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The equity markets rose more than one and a half per cent on Wednesday, December 8, 2021, amid positive global cues. RBI's decision to keep the policy rate unchanged also boosted investors sentiment and helped benchmark indices propel sharply for the second straight session.
On the day, the S&P BSE Sensex rose 1016.03 points, or 1.76%, to end at 58,649.68. The Nifty 50 index added 293.05 points, or 1.71%, to close at 17,469.75. Similarly, Bank Nifty climbed 666.30 points, or 1.82%, to 37,284.70.
In the broader market at BSE, the S&P BSE MidCap index surged 1.39 per cent and the S&P BSE SmallCap index gained 1.50 per cent. All the sectoral indices on the NSE ended in the green.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 9:
Day support zone on Nifty is 17,350-17,425, below that 17,250-17,300 is a strong Buy zone.
Day higher zone on Nifty is 17,500-17,550, above that 17,600-17,675 is a strong Sell zone.
Day support zone on Bank Nifty 36,850-37,000, below that 36,600-36,750 is a strong Buy zone.
Day higher zone on Bank Nifty is 37,525-37,650, above that 37,750-37,950 is a strong Sell zone.
The small day range for trading on Nifty is 17,425-17,550, while the medium and bigger day ranges are 17,350-17,600 and 17,300-17,675, respectively.
The small day range for trading on Bank Nifty is 36,900-37,575, while the medium and bigger day ranges are 36,850-37,750 and 36,750-37,950, respectively.
FIIs Index long increased to 73% Vs 71%.
PCR at 1.26 Vs 0.91, Profit-booking expected at higher levels.
India VIX down by 6% at 17.27.
For Existing Long Positions:
Nifty Intraday stop loss is 17,400 and Closing stop loss is 17,150.
Bank Nifty Intraday and Closing stop loss are 36,850.
For Existing Short Positions:
Nifty Intraday and Closing stop loss are 17,625.
Bank Nifty Intraday and Closing stop loss are 37,650.
For New Positions:
Buy Nifty in 17,300-17,425 range with a stop loss of 17,150 and target 17,470, 17,500, 17,550, 17,600.
Aggressive Traders Buy Nifty with a Strict stop loss of 17,400 and target 17,550, 17,600, 17,625, 17,675.
Sell Nifty in 17,550-17,675 range with a stop loss of 17,750 and target 17,500, 17,475, 17,425, 17,400.
Aggressive Traders Sell Nifty on Big Gap-up with a Strict stop loss of 17,625 and target 17,425, 17,400, 17,350, 17,300, 17,250.
For New Positions:
Aggressive Traders Buy Bank Nifty with a Strict stop loss of 37,000 and target 37,450, 37,525, 37,650, 37,750, 37,825, 37,950.
Buy Bank Nifty in 36,850-37,000 range with a stop loss of 36,600 and target 37,125, 37,275, 37,375, 37,450.
Sell Bank Nifty in 37,650-37,825 range with a stop loss of 38,000 and target 37,525, 37,450, 37,375, 37,300, 37,125.
F&O Ban Update:
Already In Ban: Indiabulls Housing Finance
New In Ban: Nil
Out Of Ban: Nil
C E Info Systems (MapmyIndia) IPO Preview: APPLY FOR BIG LISTING GAIN AND LONG TERM.
Market Leader in Maas, Saas, Paas
Big Growth Potential
Cash Rich Debt Free Company
Small Size Company with Revenue Rs 150 crore.
Shriram Properties IPO Preview: ONLY RISK TAKING INVESTORS CAN APPLY.
Promoted by Strong Shriram Group
Good Growth Prospects
Very Small Size Company
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