Amid negative global markets, neutral foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs), and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, February 11, 2022.

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Domestic equity indices, the Sensex and the Nifty, on Thursday, February 10, 2022, gained more than half a per cent amid positive global cues. Investors cheered the RBI's decision to keep the key policy rates unchanged.

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The Sensex closed above 58,900 while the Nifty ended above the 17,600 level. The Sensex climbed 460.06 points, or 0.79 per cent to trade at 59,926.03 while the Nifty surged 142.05 points, or 0.81 per cent, to 17,605.85. In the sectoral indices at the NSE, the Bank Nifty added 400.70 points, or 1.04 per cent, to settle at 39,010.95. 

In the broader market at the BSE, the Mid-Cap and the Small-Cap underperformed the Sensex. The Mid-Cap rose 0.3 per cent and the Small-Cap index added 0.04 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 11:

Day support zone on Nifty is 17,350-17,425, below that 17,225-17,275 is a strong support zone.

Day higher zone on Nifty is 17,475-17,525, above that 17,575-17,625 is a strong Sell zone.

Day support zone on Bank Nifty is 38,500-38,600, below that 38,050-38,225 is a strong support zone.

Day higher zone on Bank Nifty is 38,850-38,925, above that 39,025-39,200 is a strong Sell zone.

The small day range for trading on Nifty is 17,425-17,525, while the medium and bigger day ranges are 17,350-17,575 and 17,275-17,625, respectively.

The small day range for trading on Bank Nifty is 38,500-38,850, while the medium and bigger day ranges are 38,225-39,025 and 38,050-39,200, respectively.

FIIs long position at 52% Vs 44%.

PCR near the overbought level at 1.34 Vs 1.00, Long unwinding expected.

India VIX was down by 4% at 17.71.

For Existing Long Positions:

Nifty Intraday stop loss is 17400 and Closing stop loss is 17450

Bank Nifty Intraday and Closing stop loss are 38,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,650.

Bank Nifty Intraday and Closing stop loss are 39,200.

For New Positions:

Sell Nifty with a stop loss of 17,650 and target 17,425, 17,400, 17,350, 17,300, 17,275, 17,225.

Buy Nifty in 17275-17350 range with a stop loss of 17,200 and target 17,400, 17,425, 17,475, 17,500, 17,550, 17,575.

For New Positions:

Sell Bank Nifty with a stop loss of 39,200 and target 38,600, 38,500, 38,350, 38,225, 38,050.

Buy Bank Nifty in 38,050-38,225 range with a stop loss of 37,900 and target 38,350, 38,500, 38600, 38,725.

F&O Ban Update:

New In Ban: SAIL

Already In Ban: PNB, BHEL

Out Of Ban: Nil