Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, September 24, 2021.

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Domestic benchmark indices ended at fresh all-time highs on Thursday, September 23, 2021, amid positive global cues. The S&P BSE Sensex closed with a gain of 958.03 points or 1.63 per cent at a fresh all-time high of 59,885.36. This was the biggest gain for Sensex in four months. The Nifty 50 closed 276.30 points or 1.57 per cent to also close at a fresh high of 17,822.95. Similarly, Bank Nifty closed 827.05 points or 2.24 per cent higher at 37,771.70.

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In the broader market, the BSE Mid-cap Index gained 1.3 per cent and the Small-Cap Index rose nearly 0.9 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 24:

Day support zone on Nifty is 17,775-17,800, below that 17,600-17,650 is a strong Buy zone.

Day higher zone on Nifty is 17,875-17,925, above that 17,975-18,050 is a Profit-booking zone.

 

Day support zone on Bank Nifty is 37,500-37,675, below that 37,250-37,400 is a strong Buy zone.

Day higher zone on Bank Nifty is 38,000-38,100, above that 38,300-38,450 is a Profit-booking zone.

 

The small day range for trading on Nifty is 17,775-17,875, while the medium and bigger day ranges are 17,700-17,925 and 17,650-17,975, respectively.

The small day range for trading on Bank Nifty is 37,675-38,000 while the medium and bigger day ranges are 37,400-38,100 and 37,300-38,300, respectively.

 

FIIs Index long increased to 61% Vs 58%.

PCR at 1.46 Vs 1.15.

India VIX unchanged at 16.60.

 

For Existing Long Positions:

Nifty Intraday stop loss is 17,650 and Closing stop loss is 17,550.

Bank Nifty Intraday stop loss is 37,500 and Closing stop loss is 37,150.

 

For Existing Short Positions:

Nifty Intraday and Closing stop loss of 17,850.

Bank Nifty Intraday stop loss is 38,150 and Closing stop loss is 38,000.

 

For New Positions:

Buy Nifty with a stop loss of 17,650 and target 17,875, 17,925, 17,975, 18,000.

Sell Nifty in 17,950-18,000 range with a stop loss of 18,050 and target 17,900, 17,850, 17,825, 17,800.

 

For New Positions:

Buy Bank Nifty in 37,300-37,400 range with a stop loss of 37,150 and target 37,500, 37,675, 37,775.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 37,500 and target 37,975, 38,100, 38,300, 38,450.

Aggressive Traders Sell Bank Nifty in 37,975-38,125 range with a Strict stop loss of 38,200 and target 37,850, 37,775, 37,675, 37,550.

 

F&O Ban Update:

New In Ban: Canara Bank

Out Of Ban: Sun Tv

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

 

Stock Of The Day:

Buy Mahindra Life Space: Stop loss 272 and target 295, 305, 320. Large land bank, strong Brand. Recently announced 2:1 Bonus.

Sansera Engineering Listing Preview: Expected to list in 800-850 range. Long Term Investors can HOLD with a stop loss of 750.