Anil Singhvi Strategy November 23: Daytime support zone on Nifty is 17,250-17,325 and Bank Nifty is 36,550-36,675

Amid neutral global markets, negative Foreign Institutional Investors (FII) and positive Domestic Institutional Investors (DII) and Futures and Options Indices (F&O), overall market sentiment and trend will be negative on Tuesday, November 23, 2021.

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Earlier, the stock markets dropped all crucial support levels as Sensex lost 1170 points and Nifty lost 324 points to settle at 17,417. The two leading indices corrected 1.96% each as they too much control of the stock markets. Reliance Industries, Paytm, Bajaj Finance, Bajaj Finserv, Tata Motors and NTPC contributed the most to this market fall amid multiple factors.

Larger markets also followed benchmarks, with mid and small cap indices falling more than 2% each. Bank Nifty fell over 800 points to stand at 37,129. In addition, all major Nifty Realty, Media, PSU Bank & Auto indices were in the red and fell as much as 4%.

Zee Business Editor-in-Chief Anil Singhvi’s Market Strategy for November 23:

Tend to change back to neutral only if Nifty and Bank Nifty close above 17800 and 38300

The daytime support area on Nifty is 17250-17325; below 17150-17200 is a strong buying zone
The upper zone of the day on Nifty is 17450-17525; above 17575-17650 is a strong selling area

The daytime support area on Bank Nifty is 36550-36675; below 36 350-36 425 is a solid support area

The upper zone of the day on Bank Nifty is 37425-37575; above that 37,750 to 37,975 is a strong selling area

The small days range on Nifty is 17325-17450, the medium range is 17250-17525 and 17200-17600 is a larger range

The early day range on Bank Nifty is 36675-37350, the medium range is 36550-37525, and the larger range is 36350-37750

Long FII index unchanged at 54%

PCR oversold at 0.67 vs. 0.88, expected short coverage of lower levels

India VIX up 18% to 17.52

For existing long positions:

Nifty Intraday and closing stoploss is 17,250
Bank Nifty Intraday and closing stoploss is 36650

For existing short positions:

The Nifty intraday stoploss is 17525 and the closing stoploss is 17675
Bank Nifty’s intraday stoploss is 37550 and the closing stoploss is 38050

For new positions:

Sell ​​owl:

Stoploss: 17525; targets: 17325, 17275, 17250, 17200 and 17150

Buy Nifty in the 17200-17275 range:

Stoploss: 17100: the targets are: 17325, 17400, 17440 and 17500

Aggressive Traders Buy Nifty:

Strict Stoploss: 17250; targets: 17440, 17500, 17550, 17575 and 17600

For new positions:

Sell ​​Bank Nifty in the range 37750-37975:
Stoploss: 38225 | Targets: 37575, 37450, 37350, 37250, 37125

Aggressive Traders Sell Nifty Bank:
Strict Stoploss: 37550 | Targets: 36850, 36750, 36675, 36550, 36425, 36350

Buy Bank Nifty in the 36350-36550 range:
Stoploss: 36150 | Targets: 36650, 36750, 36850, 36950, 37125, 37250

Update of the F&O ban:
Excluding prohibitions: NALCO, BHEL, Sun TV, SAIL
Already banned: Escorts, Vodafone Idea
New in the ban: Nile

List preview of latent view:
Expected to list around 500 against an issue price of 197
Short term investors keep stoploss of 450 and continue to call


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