Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), sentiment and neutral foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Thursday, September 23, 2021. 

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Key equity indices ended with small losses after a volatile session on Wednesday, September 22, 2021. The S&P BSE Sensex slipped 77.94 points or 0.13 per cent to end at 58,927.33. The Nifty 50 index lost 15.35 points or 0.09 per cent to close at 17,546.65. 

The Bank Nifty declined 291.20 points or 0.78 per cent to 36,944.65. In the broader market, outperforming the Sensex, the BSE Mid Cap index jumped 1.5 per cent and the Small-cap index rose 1.2 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 23:

Day support zone on Nifty is 17,500-17,525, below that 17,350-17,400 is a strong Buy zone.

Day higher zone on Nifty is 17,600-17,625, above that 17,700-17,775 is a Profit-booking zone.

Day support zone on Bank Nifty is 36,750-36,850, below that 36,550-36,675 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,300-37,400, above that 37,675-37,800 is a Profit-booking zone

The small day range for trading on Nifty is 17,525-17,625, while the medium and bigger day ranges 17,500-17,700 and 17,400-17,775, respectively.

The small day range for trading on Bank Nifty is 36,850-37,300, while the medium and bigger day ranges are 36,750-37,400 and 36,700-37,700, respectively. 

FIIs Index long decreased to 58 Vs 61% 

PCR still lower unchanged at 1.15, Short covering and Buying support expected

India VIX unchanged at 16.49

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,500.

Bank Nifty Intraday and Closing stop loss are 36,850.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,630.

Bank Nifty Intraday and Closing stop loss are 37,500.

For New Positions:

Buy Nifty with a stop loss of 17,500 and target 17,625, 17,675, 17,700, 17,775.

Sell Nifty in 17700-17775 range with a stop loss of 17,825 and target 17,630, 17,600, 17,550, 17,525.

For New Positions:

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 36,850 and target 37,150, 37,325, 37,400, 37,500, 37,675, 37,800.

Aggressive Traders Sell Bank Nifty in 37250-37400 range with a Strict stop loss of 37,500 and target 37,150, 37,075, 36,950, 36,850.

Sell Bank Nifty in 37,650-37,800 range with a stop loss of 38,000 and target 37,550, 37,400, 37,300, 37,150.

F&O Ban Update:

New In Ban: Escorts

5 Already In Ban: Vodafone-Idea, IRCTC, PNB, Indiabulls Housing Finance, Sun Tv

Out Of Ban: Nil