Anil Singhvi’s Market Strategy November 21: OMCs, Paints & Tyre are Positive; Banks & Metals are Negative

After ruling the Dalal street for continuous three days, the Bulls managed to surrender themselves to Bears on November 20, 2018. On the day, Bears were able to push Nifty 50 by 107.20 points (1%) to close at 10,656.20 and S&P BSE Sensex by 300.37 points(0.84%) to close at 35,474.51. 

Similarly, Nifty Bank also managed to surrender to the bears and closed at 26,113.35 after going down by 187.35 (0.71%). 

GAIL was up by 2.79% while Yes Bank, which slid southwards was down by 6.01%. 

Negative foreign institutional investors (FII), global market, neutral domestic institutional investors (DIIs), future and option and cautious sentiment cues suggest that the short-term trend of the Indian market will continue to be positive on November 21, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 21: 

Sell on rising strategy till Nifty again closes above 10700 and BankNifty above 26300. 

10,650 and 26,050 are going to be the deciding levels on Nifty and BankNifty.

The small and bigger trading range on Nifty lies between 10,600-10,700 and 10,550-10,725 respectively while the extreme range stands at 10,500-10,775. 

The small and bigger trading range in the case of Bank Nifty lies between the mark of 26,050-26,250 and 25,900-26,325 respectively while the extreme range stands at 25,750-26,375. 

Intraday important support zone on the two indices, Nifty and Bank Nifty, stands at the mark of 10,600 and 26,000 respectively. 

The strong positional support range on the two indices, Nifty and Bank Nifty, lies between 10,500-10,550 and 25,700-25,750.

The profit booking zone on Nifty and Bank Nifty stands between 10,750-10,775 and 26,300-26,400.  

Traders are advised to reduce their positions in the market if Nifty and Bank Nifty closes below the mark of 10,600 and 26,000. 

Sell and Buy Strategy on Nifty 
Sell Nifty in the range of 10,700-10,725 with a stop loss of 10,775 and target of 10,650, 10,600, 10,550. 
Buy Nifty near 10,550 with a stop loss of 10,500 and target of 10,600, 10,650. 
 
Sell and Buy Strategy on Bank Nifty 
Sell Bank Nifty in the range of 26,150-26,250 with a stop loss of 26,350 and target of 26050, 25900, 26750. 
Buy Bank Nifty in the range of 25,750-25,800 with a stop loss of 25,700 and target 25,900, 26,050, 26,150. 

Sectors:
Positive: Oil Marketing Cos., Paints, Tyre
Negative: Banks, Metals

Enters F&O ban: DHFL

Out of ban: Nil

Already in F&O ban: Adani Power, Adani Enterprises, Jet Airways and PC Jewellers

The put-call ratio (PCR) stands at 1.64 and the volatility index (VIX) is 19.33.  

Stock of the Day:

Buy Dr Reddys Futures: Stop loss of 2450 and target 2530, 2565. 

Sell Tata Steel Futures: Stop loss 570 and target of 550, 545.

Sell Hindalco Futures: Stop loss 225 and target of 217, 212.