Amid neutral global markets, future & options (F&O), sentiment, negative foreign institutional investors (FIIs) and positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Friday, January 7, 2022. 

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Domestic equity benchmarks, the Sensex and the Nifty, on Thursday, January 6, 2022, declined around one per cent amid negative global cues. The Sensex closed near 59,600 points while the Nifty settled below 17,750 levels.

The BSE Sensex plunged 621 points, or 1.03 per cent to trade at 59,602. The NSE Nifty declined 179 points, or one per cent, to trade at 17,746. On similar lines, the Bank Nifty index fell 206 points, or 0.55 per cent, to close at 37,490.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 7:

Day support zone on Nifty is 17,600-17,650, below that 17,535-17,600 is a strong Buy zone.

Day higher zone on Nifty is 17,800-17,825, above that 17,900-17,950 is a strong Profit booking zone.

Day support zone on Bank Nifty is 36,850-37,050, below that 36,500-36,750 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,700-37,850, above that 37,925-38,100 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,650-17,825, while the medium and bigger day ranges are 17,600-17,900 and 17,535-17,950, respectively.

The small day range for trading on Bank Nifty is 37,050-37,700, while the medium and bigger day ranges are 36,850-37,850 and 36,750-38,000, respectively.

FIIs long position decreased to 66% Vs 74%.

PCR at 1.37 Vs 1.56.

India VIX up by 4% at 17.98.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,600.

Bank Nifty Intraday loss is 37,000 n Closing loss is 36,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,825.

Bank Nifty Intraday stop loss is 38,000 and Closing stop loss is 37,750.

For New Positions:

Buy Nifty in 17,550-17650 range with a stop loss of 17,500 and target 17,700, 17,750, 17,800, 17,825.

Aggressive Traders Buy Nifty with a Strict stop loss of 17,600 and target 17,800, 17,825, 17,875, 17,925, 17,950.

Sell Nifty in 17,825-17,925 range with a stop loss of 18,000 and target 17,750, 17,650, 17,625, 17,600.

Aggressive Traders Sell Nifty with a Strict stop loss of 17,950 and target 17,650, 17,625, 17,600, 17,550, 17,525.

For New Positions:

Buy Bank Nifty in 36,850-37,050 range with a stop loss of 36,700 and target 37,275, 37,375, 37,475, 37,700, 37,750, 37,850.

Sell Bank Nifty in 37,700-37,850 range with a stop loss of 38,000 and target 37,500, 37,375, 37,275, 37,150, 37,050.

Aggressive Traders Sell Bank Nifty with a Strict stop loss of 37,750 and target 37,375, 37,275, 37,050, 36,900, 36,850, 36,750.

F&O Ban Update:

New In Ban: RBL Bank

Out Of Ban: Nil

Already In Ban: Nil

Stock Of The Day:

Buy Titan Futures: Stop loss 2575 and target 2650, 2700, 2725. Strong Q3 Business Update.