Anil Singhvi’s Strategy August 12: Day support zone on Nifty is 11,200-11,235 & Bank Nifty is 21,900-22,075

Anil Singhvi’s Strategy August 12: Amid negative global markets, domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, August 12, 2020.

The domestic stocks markets on Tuesday, August 11, 2020, closed with decent gains. The BSE Sensex pared some gains to end 225 points or 0.59 per cent higher at 38,407. The NSE Nifty climbed 52 points or 0.46 per cent to finish at 11,323. Bank Nifty rose 327 points, or 1.49 per cent, to 22,227.

In the broader market at BSE, the Mid-cap and Small-cap underperformed the Sensex. The Mid-cap closed 0.2 per cent down and Small-cap fell 0.23 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 12: 

Day support zone on Nifty is 11,200-11,235, below that 11,100-11,150 is the strong buy zone. 

Day higher range on Nifty is 11,300-11,335, above that 11,375-11,450 is profit booking zone. 

Day support zone on Bank Nifty is 21,900-22,075, below that 21,650-21,750 is the strong buy zone, and 22,250-22,450 is the day higher range. 

The small day range for trading on Nifty is 11,235-11,300, while the medium and bigger ranges are 11,200-11,325 and 11,150-11,375, respectively.

The small day range for trading on Bank Nifty is 22,050-22,250, while the medium and bigger ranges are 21,900-22,350 and 21,750-22,450, respectively.

Put-Call Ratio (PCR) is 1.43; India Volatility Index (VIX) is 5% down at 21.36.

For Existing Long Positions:

Nifty intraday and closing stop loss 11,200.

Bank Nifty intraday stop loss is 22,000 and closing stop loss 21,900.

For Existing Short Positions:

Nifty intraday and closing stop loss 11,400.

BankNifty intraday and closing stop loss 22,300.

For New Positions: 

Sell Nifty with a stop loss of 11,400 and target 11,235, 11,200, 11,150.

Buy Nifty in 11,150-11,235 range with a stop loss of 11,100 and target 11,275, 11,300, 11,325, 11,375.

Sell Bank Nifty with a stop loss of 22,300 and target 22,075, 22,000, 21,900, 21,800. 

Buy Bank Nifty in 21,750-21,950 range with a stop loss of 21,650 and target 22,075, 22,225, 22,350, 22,450.  

9 Stocks In F&O Ban:

4 New in Ban: Bata India, Glenmark Pharma, IB Housing, SAIL

5 Already In Ban: Canara Bank, Century Textile, Vodafone Idea, Vedanta, Muthoot Finance