Anil Singhvi’s Strategy August 20: Day support zone on Nifty is 11,250-11,325 & Bank Nifty is 21,900-22,075

Anil Singhvi’s Strategy August 20: Amid negative global markets, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, August 20, 2020.

Benchmark domestic stocks on Wednesday, August 19, 2020, logged marginal gains amid mixed global cues. The Sensex at Bombay Stock Exchange climbed 86 points, or 0.22 per cent, to close at 38,615. Nifty at National Stock Exchange also added 23 points, or 0.2 per cent, to settle at 11,408. Similarly, Bank Nifty rose 115.30 points, or 0.52 per cent, to end at 22,286.

In the broader market at BSE, the Mid-cap rose 0.58 per cent and Small-cap gained 1.16 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 20: 

Day support zone on Nifty is 11,250-11,325, below that 11,175-11,200 is strong buy zone.

Day higher range on Nifty is 11,375-11,400, above that 11,450-11,500 is strong sell zone. 

Day support zone on Bank Nifty is 21,900-22,075, below that 21,650-21,700 is strong buy zone.

Day higher range on Bank Nifty is 22,325-22,425, above that 22,500-22,550 is strong profit-booking range.

The small day range for trading on Nifty is 11,300-11,375, while the medium and bigger ranges are 11,250-11,400 and 11,225-11,450, respectively.

The small day range for trading on Bank Nifty is 22,075-22,300, while the medium and bigger ranges are 21,900-22,400 and 21,700-22,500, respectively.

Put-Call Ratio (PCR) is 1.6; India Volatility Index (VIX) 2% down at 19.96.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,250.

Bank Nifty intraday and closing stop loss are 22,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,500.

Bank Nifty intraday and closing stop loss are 22,500.

For New Positions: 

Sell Nifty with a stop loss of 11,500 and target 11,325, 11,300, 11,275, 11,250.

Buy Nifty in 11250-11300 range with a stop loss of 11,200 and target 11,350, 11,375, 11,400, 11,450.

Sell Bank Nifty with a stop loss of 22,500 and target 22,175, 22,075, 22,000, 21,900.

Buy Bank Nifty in 21,900-22,000 range with a stop loss of 21,800 and target 22,075, 22,175, 22,275, 22,425.

Sectors: 

Negative: Auto, Metals & Banks 

13 Stocks In F&O Ban:

2 New in Ban: Century Textiles. Canara Bank

11 Already In Ban: Vodafone Idea, Vedanta, SAIL, Aurobindo Pharma, BHEL, Manappuram Finance, Sun TV, JSPL, Adani Enterprises, IB Housing, Bank Of Baroda

Out of Ban: Zee Entertainment Enterprises Limited (ZEEL)