Amid neutral global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, September 28, 2021. 

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The domestic stock markets ended on a flat note on Monday, September 27, 2021. The trade remained volatile for most of the part of the day. The S&P BSE Sensex rose 29.41 points or 0.05 per cent to 60,077.88. Earlier in the intraday trade, the BSE Sensex managed to log a fresh record high of 60,412.32. 

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The Nifty 50 index rose 1.90 points or 0.01 per cent to 17,855.10. The Bank Nifty closed with a gain of 340.95 points or 0.90 per cent at 38,171.25. 

The broader markets underperformed the benchmark Sensex with S&P BSE Midcap closed flat and S&P BSE SmallCap declined 0.13 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 28:

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 17,900-17,950, above that 18,000-18,075 is a Profit-booking zone.

Day support zone on Bank Nifty is 37,825-38,000, below that 37,675-37,775 is a strong Buy zone.

Day higher zone on Bank Nifty is 38,350-38,450, above that 38,600-38,700 is a Profit-booking zone.

The small day range for trading on Nifty is 17,800-17,900, while the medium and bigger day ranges are 17,700-17,940 and 17,650-18,000, respectively.

The small day range for trading on Bank Nifty is 38,000-38,350, while the medium and bigger day ranges are 37,825-38,450 and 37,675-38,600, respectively.

 

FIIs Index long increased to 61% Vs 60%.

PCR near the oversold level at 1.11 Vs 1.27, short-covering expected from lower levels.

India VIX is up by 7% at 18.05, volatility expected to increase.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,775.

Bank Nifty Intraday stop loss is 37,950 and Closing stop loss is 37,800.

For Existing Short Positions:

Nifty Intraday stop loss is 18,000 and Closing stop loss is 17,850.

Bank Nifty Intraday and Closing stop loss are 38,350.

For New Positions:

Aggressive Traders Buy Nifty with a Strict stop loss of 17,775 and target 17,900, 17,940, 17,975, 18,000, 18,075.

Buy Nifty in 17,600-17,650 range with a stop loss of 17,550 and target 17,700, 17,800, 17,825, 17,850.

Aggressive Traders Sell Nifty with a Strict stop loss of 18,000 and target 17,800, 17,700, 17,650, 17,625.

Sell Nifty in 17940-18000 range with a stop loss of 18,100 and target 17,900, 17,850, 17,825, 17,800.

For New Positions:

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 37,950 and target 38,350, 38,450, 38,500, 38,600.

Buy Bank Nifty in 37800-38000 range with a stop loss of 37,750 and target 38,100, 38,175, 38,350, 38,450.

Aggressive Traders Sell Bank Nifty in 38350-38500 range with Strict stop loss of 38,600 and target 38,200, 38,125, 38,000, 37,850.