Anil Singhvi’s Market Strategy November 22: Cement is Positive; Buy it on Dips

Reacting to the global sentiments, the Indian markets closed in a red on November 21, 2018. On the day, Nifty 50 ended lower by 56.15 points (0.53%) at 10,600.05 while S&P BSE Sensex was down by 274.71 points (0.77%) to close at 35,199.80. However, Nifty Bank managed to trick the global cues and went up by 148.70 points (0.57%) and closed at 26,262.05. 

Positive domestic institutional investors (DIIs), neutral future and option, global market and sentiments and negative foreign institutional investors (FII) cues suggest that the short-term trend of the Indian market will be positive on November 22, 2018. 

Zee Business' Managing Editor Anil Singhvi's Market Strategy for November 22: 

Market to trade in a small range. 

10,600 and 26,250 are going to be the deciding level on Nifty and BankNifty. 

Small and bigger trading range on Nifty lies between the mark of 10,550-10,675 and 10,525-10,725 respectively while the extreme range stands at 10,500-10,775.  

In the case of BankNifty, the small and bigger trading range lies between 26,150-26,350 and 26050-26375. The extreme range stands at 25,900-26,500. 

The intraday important support zone on the two indices, Nifty and Bank Nifty, stands at the mark of 10,550 and 26,050 respectively. 

Strong positional support range on Nifty and BankNifty resides at the mark of 10,500-10,550 and 26,050-26,150 respectively. 

10,750-10,775 is going to be the profit booking zone on Nifty while profit booking zone on Bank Nifty stands at 26,500.

Traders are advised to reduce their buying positions if the two indices, Nifty and Bank Nifty, close below the mark of 10,600 and 26,100. 

Buy and Sell Strategy on Nifty 
Buy Nifty near 10550 with a stop loss of 10,500 and target of 10650, 10675, 10700
Sell Nifty in the range of 10,675-10,700 with a stop loss of 10,725 and target of 10650, 10600. 

Buy and Sell Strategy on Bank Nifty 
Buy Bank Nifty in the range of 26,050-26,150 with a stop loss of 25900 and target of 26250, 26325, 26475
Sell Bank Nifty in the range of 26450-26500 with a stop loss of 26,600 and target of 26350, 26250

Sectors:
Positive: Cement Buy on Dips, Fertilizer
Negative: Metals

Enters F&O ban: Nil 

Out of ban: Nil

Already in F&O ban: Adani Power, Adani Enterprises, Jet Airways, PC Jeweller, DHFL

The put-call ratio (PCR) stands at 1.55 and the volatility index (VIX) is 19.55.  

Stock of the Day:
Sell Jet Airways Cash levels: Stop loss 323 and target 310. Management denies talks with Etihad. No merger with Jet Privilege. 
Sell Tata Steel Futures: Stop loss 557 and target 540, 535