Anil Singhvi Strategy January 11: Day support zone on Nifty is 17775-17850 & Bank Nifty is 41675-41825

Stock markets could see some reversal today as per the available cues from the global markets, Zee Business Managing Editor Anil Singhvi said while spelling out his strategy on Nifty and Bank Nifty. He expects markets to trade in a range bound manner and investors are likely to get opportunities for a two-way trade. 

Amid positive global markets, positive domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, January 11, 2023.

Nifty support zone 17775-17850, Below that 17650-17725 Strong Support zone

Nifty higher zone 17975-18025, Above that 18050-18125 Strong Sell zone

Bank Nifty support zone 41675-41825, Below that 41425-41575 Strong Support zone

Bank Nifty higher zone 42275-42475, Above that 42575-42700 Strong Sell zone

Nifty support levels 17900, 17850, 17825, 17800, 17775, 17725

Nifty higher levels 17975, 18000, 18025, 18065, 18100, 18125, 18150

Bank Nifty support levels 41950, 41825, 41775, 41675, 41575, 41425

Bank Nifty higher levels 42175, 42300, 42400, 42500, 42575, 42675, 42825

Read More: Stock Market Today LIVE: Sensex, Nifty set to open today amid positive global cues; Asian markets advance

- FIIs Index Long at 41% Vs 49%

- PCR at 0.71 Vs 0.97

- Bank Nifty PCR at 0.57 Vs 0.75

- India VIX up by 6% at 15.51

For Existing Long Positions:

Nifty intraday and closing STOP LOSS 17750

Bank Nifty intraday and closing STOP LOSS 41800

For Existing Short Positions:

Nifty intraday an closing STOP LOSS 18150
Bank Nifty intraday STOP LOSS 42300 and closing STOP LOSS 42725

For New Positions:

Aggressive Traders Buy Nifty in 17775-17850 range:

Strict STOP LOSS 17700 Target 17900, 17925, 17975, 18000, 18025, 18065, 18100

Sell Nifty in 18050-18125 range:

STOP LOSS 18200 Target 18000, 17975, 17925, 17900, 17850, 17825, 17800

For New Positions:

Aggressive Traders Buy BankNifty in 41600-41825 range:

Strict STOP LOSS 41400 Target 41950, 42025, 42175, 42300, 42400, 42500, 42575

Aggressive Traders Sell Bank Nifty in 42400-42600 range:

Strict STOP LOSS 42750 Target 42300, 42200, 42125, 42025, 41950, 41850, 41675

F&O Ban Update:

Already In Ban: GNFC, IBull Housing Finance

New In Ban: Nil

Out Of Ban: Nil