Anil Singhvi’s Strategy August 18: Day support zone on Nifty is 11,100-11,175 & Bank Nifty is 21,375-21,500

Anil Singhvi’s Strategy August 18: Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, August 18, 2020.

Benchmark domestic stocks on Monday, August 17, 2020, gained around half a per cent amid mixed global cues. The Sensex at Bombay Stock Exchange climbed 173 points, or 0.46 per cent, to close at 38,051. Nifty at National Stock Exchange also added 69 points, or 0.61 per cent, to settle at 11,247. Similarly, Bank Nifty gained 21 points, 0.34 per cent, and settled at 21,701. 

In the broader market at BSE, the Mid-cap rose 0.41 per cent and Small-cap surged 0.84 per cent.

See Zee Business Live TV streaming below:

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 18: 

Day support zone on Nifty is 11,100-11,175 and the higher range is 11,300-11,375.

Day support zone on Bank Nifty is 21,375-21,500, below that 21,000-21,100 is strong buy zone and 21,900-22,075 is day higher range.

The small day range for trading on Nifty is 11,200-11,300, while the medium and bigger ranges are 11,175-11,325 and 11,125-11,375, respectively. 

The small day range for trading on Bank Nifty is 21,500-21,900, while the medium and bigger ranges are 21,375-22,000 and 21,100-22,075, respectively.

Put-Call Ratio (PCR) is 1.5; India Volatility Index (VIX) 2% down at 21.31.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,150.

Bank Nifty intraday and closing stop loss are 21,375.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,325.

Bank Nifty intraday and closing stop loss are 21,900.

For New Positions: 

Buy Nifty with a stop loss of 11,100 and target 11,300, 11,325, 11,350, 11,375.

Sell Nifty in 11,300-11,375 range with a stop loss of 11,400 and target 11,250, 11,225, 11,200, 11,175.

Buy Bank Nifty in 21375-21500 range with a stop loss of 21,300 and target 21,650, 21,750, 21,900, 22,000, 22,075. 

Sell Bank Nifty in 21,900-22,100 range with a stop loss of 22,250 and target 21,800, 21,750, 21,650, 21,500. 

11 Stocks In F&O Ban:

2 New in Ban: Sun TV, JSPL

9 Already In Ban: Vodafone Idea, Vedanta, Bata India, Glenmark Pharma, SAIL, Aurobindo Pharma, Ashok Leyland, BHEL, Manappuram Finance