Anil Singhvi’s Market Strategy November 20: Cement sector is Positive; Banks and Metals are negative

Continuing its bullish momentum on the third day, the Indian market closed the day, November 19, 2018, in favour of the Bulls. The Bulls pushed the Nifty 50 up by 81.20 points or 0.76 per cent to close at 10,763.40 while Nifty Bank was up by 55.15 points or 0.21 per cent and closed at 26,300.70. Similarly, S&P BSE Sensex was up by 317.72 points or 0.90 per cent to close at 35,774.88. 

Yes Bank was up by 7.83% while ITC and IndusInd bank were up by 2.87 per cent and 2.72 per cent respectively.  

Amid positive foreign institutional investors (FII), negative global market, domestic institutional investors (DIIs), cautious future and option and sentiment cues, the short-term trend of the Indian market will remain positive on November 20, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 20: 

Weakness in global markets and the outcome of RBI meet is not encouraging.

PCR 1.73 Nifty near 10800, be alert at higher levels. 

Deciding levels on Nifty and BankNifty lies at 10,700 and 26,200. 

The small trading range on Nifty stands at  10,700-10,800 while the bigger and extreme range lies between 10,650-10,825 and 10,575-10,900. 

In the case of the BankNifty, the small and bigger trading range lies between 26,200-26,375 and 26,050-26,450 while the extreme range stands at 25,900-26,500. 

Intraday support zone on the two indices, Nifty and Bank Nifty reside at the mark of 10,650 and 26,050. 

The intraday profit booking zone on the two indices lies between 10,775-10,825 and 26,375-26,475 respectively. 

Traders are advised to reduce their buying positions if Nifty and BankNifty closes below the mark of 10,600 and 26,050. 

Buy and Sell Strategy on Nifty 
 
Sell Nifty with a stop loss of 10,825 and target of 10,700, 10,675, 10,650. 

Buy Nifty in the range of 10,650-10,700 with a stop loss of 10,600 and target of 10,750, 10,775, 10,800. 

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— Zee Business (@ZeeBusiness) November 20, 2018

Buy and Sell Strategy on BankNifty 
 
Sell BankNifty with a stop loss of 26,500 and target of 26,200, 26,150, 26,050, 25,900. 

Buy BankNifty in the range of 25900-26050 with a stop loss of 25,750 and target of 26,150, 26,200. 

The put-call ratio (PCR) stands at 1.73 and the volatility index (VIX) is 19.25.  

Sectors:

Positive: Cement buy on dips
Negative: Banks, Metals

Enters F&O ban: Jet Airways, PC Jewellers

Out of ban: Nil

Already in F&O ban: Adani Power, Adani Enterprises