Anil Singhvi’s strategy on December 2: the daytime support zone on Nifty is 16,985-17,065 and Bank Nifty is 35,900-36,025

Amid negative global sentiment, neutral data on foreign institutional investors (FII), positive domestic institutional investors (DII), and neutral futures and options (F&O) indices, general sentiment will be cautious and the trend will remain negative on Thursday, December 2, 2021.

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Indian markets were sitting in the green at Wednesday’s close amid strong macroeconomic numbers. Metals, autos and banking stocks fueled the rally as BSE Sensex gained over 600 points, while Nifty50 recovered Mark 17,150 as the market closed. Nifty Bank jumped 669.60 points or 1.88% to 36,364.90 on Wednesday.

Zee Business Editor-in-Chief Anil Singhvi Market Strategy for December 2

The Nifty Day support area is 16985-17065; below 16785-16935 is a strong buy zone
The highest zone of the day is 17215-17275; above 17325-17415 is a strong sell area

The Bank Nifty day support zone is 35900-36025; below 35700-35800 is a strong buying zone

The upper area of ​​Nifty Day Bank is 36450-36650; above, 36775-36875 is a strong selling area

The nifty small days range is 17065-17215, while 16985-17275 is the medium range, 16935-17325 Bigger Range

Bank Nifty’s small days range is 36025-36650, while 35900-36775 is the medium range and the larger range is 35700-36850

Long FIIs index increased to 73% Vs 71%
PCR at 1.01 Vs 0.89
India VIX down 8% at 7:45 p.m.

For existing long positions:

Nifty Intraday and closing stoploss (SL) 16975
Bank Nifty Intraday and closing SL 35900

For existing short positions:
Nifty Intraday and closing SL 17225
Bank Nifty Intraday and closing stoploss 36650

For new positions:
Buy Nifty in the 16985-17065 range:
SL 16900; targets: 17160, 17200, 17275, 17325

Aggressive traders buy Nifty at the opening of the spread:
Strict SL 16975; targets: 17160, 17215, 17275, 17325, 17415

Aggressive traders shrewdly sell:
Strict SL 17225; targets; 17065, 17025, 16985, 16935

Sell ​​Nifty in the 17200-17350 range:
SL 17425; targets: 17165, 17065, 17035, 16985, 16935

For new positions:

Buy Bank Nifty in the 35700-35900 range:

SL 35500; targets: 36025, 36350, 36450

Aggressive traders buy Bank Nifty at the opening of the spread:
Strict SL 35900; targets: 36350, 36450, 36650, 36775, 36850

Aggressive Traders Sell Nifty Bank:
Strict SL 36650; Targets: 36025, 35900, 35800, 35700, 35525

Sell ​​Bank Nifty in the 36650-36850 range:

SL 37000; targets: 36500, 36375, 36025, 35900

Update of the F&O ban:
Already banned: Indiabulls Housing Finance
New in the ban: Nile
Out of ban: Nile

Overview of Anand Rathi Wealth’s IPO:
Good points :

Strong growth prospects
Experienced promoters and management
Reasonable valuations

Negative points :

Highly competitive company
Dependence on market conditions

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