Anil Singhvi’s Strategy July 20: Day support zone Nifty is 10,750-10,825 & Bank Nifty is 21,400-21,600; Buy HDFC Bank Futures with a Stop loss of 1085

Amid neutral global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), sentiment and negative futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Monday, July 20, 2020. 

Benchmark domestic stocks on Friday, July 17, 2020, advanced 1.5 per cent amid mixed global cues. Sensex regains 37,000-mark and Nifty reclaimed 10,900-level.

Sensex at Bombay Stock Exchange closed 548 points, or 1.5 per cent, up at 37,020. Similarly, the Nifty at National Stock Exchange gained 162 points, or 1.51 per cent, to settle at 10,902. Both these indices jumped over 2.7% in the last three sessions. Likewise, Bank Nifty gained 370 points, or 1.71 per cent, to settle at 21,967. 

In the broader market at BSE, the Mid-cap also surged 1.55 per cent while the Small-cap added 1.11 per cent.

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

Day support zone Nifty is 10,750-10,825 and higher range is 10,950-11,000, above that 11,100-11,150 is Profit-Booking zone.

 Day support zone on Bank Nifty is 21,400-21,600 and higher range is 22,050-22,200, above that 22,400-22,600 is Profit-Booking zone.

Small Day Range on Nifty is 10,850-10,900, while the medium and bigger ranges are 10,800-10,950 and 10,750-11,000, respectively. 

Small Day Range on Bank Nifty is 21,650-22,075, while the medium and bigger ranges are 21,500-22,200 and 21,400-22,400, respectively.

Put-Call Ratio (PCR) is 1.76, overbought, cautious at higher levels, profit-booking expected near 11,000, India Volatility Index (VIX) 5% down at 24.16.

For Existing Long Positions:

Nifty intraday stop loss is 10,800 and closing stop loss is 10,700.

Bank Nifty intraday and closing stop loss are 21,500.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,000.

Bank Nifty intraday and closing stop loss are 22,200.

For New Positions:

Buy Nifty in 10,750-10,825 range with a stop loss of 10,700 and target 10,925, 10,975, 11,000. 

Sell Nifty in 10,950-11,050 range with a stop loss of 11,150, and target 10,900, 10,850, 10,825. 

Buy Bank Nifty in 21,500-21,700 range with a stop loss of 21,350 and target is 21,850, 21,950, 22,075, 22,200, 22,400.

Sell Bank Nifty in 22,250-22,500 range with a stop loss of 22,600 and target 22,050, 21,950.

9 Stocks In F&O Ban:

New In Ban: NALCO, Glenmark, BHEL

Already in Ban: Canara Bank, Century Textiles, Vodafone Idea, PNB, Sun TV, L&T Finance

See Zee Business Live TV Streaming Below:

Results Review:

Buy HDFC Bank Futures: Stop loss 1085 and target 1130 1140. Excellent results, Strong Commentary.