Amid positive global markets, future & options (F&O), negative foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs) and cautious sentiment, cues, the short-term trend of the Indian stock markets will be positive on Friday, October 22, 2021.

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Key equity indices ended with losses for the third consecutive session on Thursday, October 21, 2021. Sensex closed below the 61,000-mark while Nifty ended below the 18,200 level.

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The S&P BSE Sensex dropped 336.46 points or 0.55 per cent to 60,923.50. The Nifty 50 index lost 88.50 points or 0.48 per cent to settle at 18,178.10. However, the Nifty Bank index closed with a gain of 512 points or 1.30 per cent at 40,030.20. The index for the first time has closed above the 40,000-mark.

In the broader markets, the S&P BSE MidCap and S&P BSE SmallCap closed at a loss of 0.38 per cent and 0.69 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 22:

Trend to turn Neutral only if Nifty closes below 17,850-17,950 range.

Day support zone on Nifty is 18,050-18,150, below that 17,950-18,050 is a strong Buy zone.

Day higher zone on Nifty is 18,275-18,350, above that 18,375-18,450 is a strong Profit booking zone.

Day support zone on Bank Nifty is 39,700-39,775, below that 39,425-39,550 is a strong Buy zone.

Day higher zone on Bank Nifty is 40,175-40,350, above that 40,450-40,550 is a strong Profit booking zone.

The small day range for trading on Nifty is 18,150-18,275, while the medium and bigger day ranges are 18,050-18,350 and 17,950-18,450, respectively.

The small day range for trading on Bank Nifty is 39,775-40,175, while the medium and bigger day ranges are 39,700-40,350 and 39,550-40,450, respectively.

 

FIIs Index long decreased to 63% Vs 68%.

PCR oversold at 0.94 Vs 0.91, short covering expected from lower levels.

India VIX down 1% at 18.04.

 

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,950.

Bank Nifty Intraday and Closing stop loss are 39,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,450.

Bank Nifty Intraday and Closing stop loss are 40,200.

For New Positions:

Buy Nifty in 17,950-18,050 range with a Stop Loss of 17,850 and target 18,150, 18,200, 18,250, 18,325.

Aggressive Traders Buy Nifty with a Strict Stop Loss of 18,000 and target 18,250, 18,350, 18,375, 18,425, 18,450, 18,475.

Sell Nifty in 18,375-18,450 range with a Stop Loss of 18,500 and target 18,325, 18,275, 18,200, 18,150, 18,050.

For New Positions:

Buy Bank Nifty in 39550-39700 range with a Stop Loss of 39,400 and target 39,775, 39,950, 40,025, 40,175.

Aggressive Traders Buy Bank Nifty with a Strict Stop Loss of 39,800 and target 40,175, 40,350, 40,450, 40,550.

F&O Ban Update:

10 Already In Ban: L&T Finance Holding, Tata Power, IRCTC, SAIL, PNB, Escorts, NALCO, Amara Raja, Vodafone Idea, Sun Tv

New In Ban: Nil

Out Of Ban: Nil

Stock Of The Day:

Buy IEX Futures: Stop loss 750 and target 790, 815, 825. Good Results and 2:1 Bonus.