Short-term trends in the Indian stock market in the context of positive global markets, futures and options (F & O), sentiment, neutral foreign institutional investors (FII) and negative domestic institutional investors (DII). Will be positive on Thursday, September 2nd. 2021.
The major benchmark indexes closed on Wednesday, September 1, 2021 with a slight loss in profits after the recent surge. The S & P BSE Sensex fell 214.18 points (0.37%), ending at 57,338.21. The Nifty 50 Index closed at 17,076.25, down 55.95 points (0.33%). However, the Bank Nifty Index rose 149.70 points (0.41%) to settle at 36,574.30.
S & P BSE MidCap rose 0.92%, S & P BSE SmallCap rose 0.22%, a wide range of markets outperformed by BSE.
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Zee Business Editor-in-Chief Anil Singhvi’s September 2 Market Strategy:
Nifty’s day support zone is 16,925-17,000, below which 16,725-16,775 is a powerful purchasing zone.
Nifty’s daily high zone is 17,125-17,150, beyond which 17,200-17,250 becomes the profit booking zone.
Bank Nifty’s day support zone ranges from 36,200 to 36,350, with 35,800 to 36,000 below it being a strong purchasing zone.
Bank Nifty’s daily high zone ranges from 36,900 to 37,000, beyond which 37,100 to 37,300 become profit booking zones.
The small day range for trading at Nifty is 17,000 to 17,125, while the medium and large day ranges are 16,950 to 17,200 and 16,900 to 17,225, respectively.
The small day range for trading on Bank Nifty is 36,425-36,750, while the medium and large day ranges are 36,350-36,900 and 36,200-37,000, respectively.
FIIs index is long at 64% vs. 66%
PCR close to the oversold level of 1.17 vs. 1.66, short cover expected from lower levels
India VIX fell 2% at 14.19
For existing long positions:
A nifty daytime stop loss is 17,000 and a closing stop loss is 16,900.
Bank Nifty Intraday and Closing stop loss is 36,200.
For existing short positions:
A nifty daytime and closing stop loss is 17,250.
Bank Nifty Intraday and Closing stop loss is 37,000.
For new positions:
Buy Nifty with a stop loss of 16,900 and target 17,125, 17,150, 17,200, 17,225.
Nifty sells in the range of 17,200-17,225, with a stop loss of 17,300 and targets of 17,150, 17,075, 17,050 and 17,000.
For new positions:
Buy Bank Nifty in the range 36,350-36,425 with a stop loss of 36,200 and target 36,550, 36,625, 36,750, 36,900.
Aggressive traders buy Bank Nifty with an exact stop loss of 36,200 and target 36,750, 36,900, 36,975, 37,100, 37,300.
Bank Nifty sells in the range of 36,900-37,000, with stop loss of 37,150 and targets of 36,750, 36,625, 36,575, 36,500, 36,425.
F & O Ban Update:
Not prohibited: Canara Bank
New Banned Features: None
Already banned: None
Anil Singhvi's Strategy September 2: Nifty's day support zone is 16,925-17,000 and Bank Nifty is 36,200-36,350.
Source link Anil Singhvi's Strategy September 2: Nifty's day support zone is 16,925-17,000 and Bank Nifty is 36,200-36,350.