Anil Singhvi’s Strategy July 21: Amid positive global markets, foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and negative futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive Tuesday, July 21, 2020.

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Benchmark domestic stocks on Monday, July 20, 2020, surged more than one per cent amid mixed global cues. Nifty reclaimed 11,000-mark. Encouraging Q1 earnings from index pivotals countered the impact of the surge in domestic coronavirus cases.

Sensex at Bombay Stock Exchange closed 399 points, or 1.08 per cent, up at 37,419. The Nifty at National Stock Exchange climbed 121 points, or 1.11 per cent, to settle at 11,022. Both these indices jumped about 3.9% in four sessions. Similarly, Bank Nifty gained 355 points, or 1.62 per cent, to settle at 22,322. 

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In the broader market at BSE, the Mid-cap also added 0.91 per cent while the Small-cap logged a gain of 1.04 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 21: 

Day support zone on Nifty is 10,900-10,950 and the higher range is 11,150-11,200.

Day support zone on Bank Nifty is 21,900-22,200 and the higher range is 22,600-22,675, above that 22,800-23,000 is Profit-Booking zone.

Small Day range for trading on Nifty is 11,000-11,100, while the medium and bigger ranges are 10,950-11,150 and 10,900-11,200, respectively. 

Small Day range for trading on Bank Nifty is 22,200-22,600, while the medium and bigger ranges are 22,000-22,800 and 21,900-22,900, respectively.

Put-Call Ratio (PCR) is 1.75, overbought, cautious at higher levels, profit-booking expected in 11,150-11,200 range. India Volatility Index (VIX) 2% up at 24.71.

For Existing Long Positions:

Nifty intraday stop loss is 11,000 and closing stop is 10,900.

Bank Nifty intraday stop loss is 22,150 and closing stop is 21,900.

For Existing Short Positions:

Nifty intraday and closing stop are 11,050.

Bank Nifty intraday and closing stop are 22,600.

For New Positions:

Buy Nifty with a stop loss of 10,950 and target 11,100, 11,150, 11,200.

Sell Nifty in 11,150-11,200 range with a stop loss of 11,250 and target 11,100, 11,050, 11,025.

Buy Bank Nifty with a stop loss of 22,150 and target 22,600, 22,675, 22,800, 22,900, 22,975.

Sell Bank Nifty in 22,800-23,000 range with a stop loss of 23,100 and target 22,675, 22,550, 22,400.

10 Stocks In F&O Ban:

New in Ban: Adani Enterprises, M&M Finance

Already in Ban: Canara Bank, Century Textiles, Vodafone Idea, Sun TV, L&T Finance, NALCO, Glenmark, BHEL.

Out of Ban: PNB