Anil Singhvi’s Strategy July 23: Day support zone on Nifty is 15,750-15,790 & Bank Nifty is 34,350-34,425
Domestic stocks markets ended with robust gains on Thursday as the benchmark S&P BSE Sensex index soared 638.70, Nifty 50 index closed 191.95 points and Nifty Bank gained 261.85 points
Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, July 23, 2021.
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Domestic stocks markets ended with robust gains on Thursday, July 22, 2021. The benchmark S&P BSE Sensex index soared 638.70 points or 1.22 per cent to close at 52,837.21. The Nifty 50 index closed 191.95 points or 1.23 per cent higher at 15,824.05. Nifty Bank index gained 261.85 points or 0.76 per cent to close at 34,677.30.
In the broader markets, the S&P BSE MidCap rallied 1.49 per cent and S&P BSE SmallCap moved 1.52 per cent higher.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 23:
Day support zone on Nifty is 15,750-15,790, below that 15,675-15,725 is a strong Buy zone.
Day higher zone on Nifty is 15,850-15,880, above that 15,915-15,950 is a strong Sell zone.
Day support zone Bank Nifty is 34,350-34,425, below that 33,900-34,000 is a strong Buy zone.
Day higher zone on Bank Nifty is 34,875-34,975, above that 35,075-35,250 is a strong Sell zone.
Small Day Range for trading on Nifty is 15,790-15,850, while the medium and bigger day ranges are 15,750-15,880 and 15,675-15,925, respectively.
Small Day Range for trading on Bank Nifty is 34,550-34,875, while the medium and bigger day ranges are 34,350-34,975 and 34,000-35,075, respectively.
FIIs Index long at 57% Vs 52%.
PCR light and comfortable at 1.18 vs 0.81.
Big Fall in India VIX down by 10% at 11.89.
For Existing Long Positions:
Nifty Intraday stop loss is 15,700 and Closing stop loss is 15,625,
BankNifty Intraday and Closing stop loss are 34,350.
For Existing Short Positions:
Nifty Intraday stop loss is 16,000 and closing stop loss is 15,925.
Bank Nifty Intraday and Closing stop loss are 35,100.
For New Positions:
Buy Nifty in 15,725-15,790 range with a stop loss of 15,625 and target 15,815, 15,835, 15,850, 15,880, 15,915.
Sell Nifty in 15,880-15,950 range with a stop loss of 16,000 and target 15,850, 15,825, 15,790, 15,750.
For New Positions:
Aggressive Traders Buy Bank Nifty in 34,350-34,550 range with a trict stop loss of 34,300 and target 34,675, 34,875, 34,975, 35,075.
Sell Bank Nifty in 34,875-35,075 range with a stop loss of 35,250 and target 34,750, 34,675, 34,575, 34,425.
F&O Ban Update:
Out of Ban: NMDC
5 Stocks Already In Ban: NALCO, Cadila, Indiabulls Housing Finance, Sun TV, Canara Bank.
New In Ban: Nil
Stock of the Day:
Buy Mishra Dhatu Nigam Medhani: Stop loss 194 and target 210, 220. Metal stocks are in Focus. Trades at attractive valuations.
Zomato Listing Preview: Expect strong Listing in the 100-110 range. HOLD for Long Term. Fresh buying recommended around 90.
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