Anil Singhvi’s Strategy September 24: Day support zone on Nifty is 17,775-17,800 & Bank Nifty is 37,500-37,675
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.
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.
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.
09:21 AM IST