Anil Singhvi’s Market Strategy November 28: Banks are Positive; Metals are Negative

After being volatile throughout the day, Indian markets ended the day strongly in Green on November 27, 2018. On the day, the S&P BSE Sensex rose 159.06 points or 0.45 per cent to close at 35,513.14 while Nifty 50 added 57 points or 0.54 per cent to 10,685.60. Similarly, Nifty Bank closed up by 77.50 points or 0.29 per cent to close at 26,443.10. 

Infosys and Bajaj Finserv were the top gainers of the day as they were up by 3.15 per cent and 3 per cent respectively. 

Amid positive sentiments, future and option (F&O), global market and neutral foreign institutional investors (FIIs) as well as domestic institutional investors (DIIs) cues, the short-term trend of the Indian market will be positive today, November 28, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 28: 
• 10,700 and 26,500 are the deciding levels on Nifty and Bank Nifty.
• Small and bigger trading range on Nifty lies between 10,650-10,725 and 10,625-10,750 respectively. The extreme range stands at 10,575-10,800
• In the case of Bank Nifty, the small trading range resides at the mark of 26,350-26,600 while the bigger and extreme range lies between 26,250-26,700 and 26,100-26,800 respectively. 
• Intraday support range on the two indices lies between 10,575-10,625 and 26,250-26,325 respectively. 
• Traders are advised to reduce their buying positions on Nifty and Bank Nifty if they close below the mark of 10,600 and 26,100. 

Buy and Sell Strategy on Nifty 
Buy Nifty with a stop loss of 10,625 and target of 10,725, 10,750, 10,775. 
Sell Nifty in the range of 10,775-10,800 with a stop loss of 10,825 and target of 10,725, 10,700. 

Buy and Sell Strategy on Bank Nifty 
Buy Bank Nifty with a stop loss of 26,250 and target of 26,600, 26,700, 26,800. 
Sell Bank Nifty in the range of 26,750-26,800 with a stop loss of 26,850 and target of 26,600, 26,500. 

Enters F&O ban: Nil 
Out of ban: DHFL
3 Already in F&O ban: Adani Power, Adani Enterprises, Jet Airways

Sectors:
Positive: Banks make or break sector
Negative: Metals
The put-call ratio (PCR) stands at 1.74 and the volatility index (VIX) is 18.31.  

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— Zee Business (@ZeeBusiness) November 28, 2018

Result Analysis:
Buy Reliance Capital Futures: Stop loss 232 and target 240, 245. 
Short covering expected as the company reported a profit of Rs. 309 crore. 

Stock of the Day:
Sell Lupin Futures: Stop loss 860 and target of 835, 820, 800. CFO Ramesh Swaminathan resigns.