Anil Singhvi’s Strategy July 23: Day support zone on Nifty is 11,050-11,100 & Bank Nifty is 22,550-22,650

Anil Singhvi’s Strategy July 23: Amid positive global markets, foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, July 23, 2020.

Benchmark domestic stocks fell marginally amid negative global cues on Wednesday, July 22, 2020. The sentiment was impacted by US-China tensions. Sensex at Bombay Stock Exchange closed 59 points, or 0.16 per cent, up at 37,872. Similarly, the Nifty at National Stock Exchange slipped 30 points, or 0.27 per cent, to settle at 11,133. Traders booked profits after the Sensex and the Nifty jumped about 5.2 per cent in the past five sessions. However, Bank Nifty gained 101 points, or 44 per cent, to settle at 22,883.

In the broader market at BSE, the Mid-cap added 0.19 per cent while the Small-cap lost 0.23 per cent.

See Zee Business Live Streming below:

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 23: 

Day support zone on Nifty is 11,050-11,100, below that 10,900-11,000 is strong buy zone.

Day higher range on Nifty is 11,175-11,225, above that 11,300-11,350 is profit booking range.

Day support zone on Bank Nifty is 22,550-22,650, below that 22,300-22,400 is strong buy zone.

Day higher range on Bank Nifty is 22,975-23,075, above that 23,200-23,450 is profit booking range.

The Small day range on Nifty is 11,100-11,175, while the medium and bigger day ranges are 11,050-11,225 and 11,000-11,300, respectively. 

The Small day range on Bank Nifty is 22,650-23,075, while the medium and bigger day ranges are 22,550-23,200 and 22,400-23,400, respectively.

Put-Call Ratio (PCR) is 1.68, India Volatility Index (VIX) 12% up 24.49.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,000.

Bank Nifty intraday and closing stop loss are 22,600.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,250.

Bank Nifty intraday and closing stop loss are 23,100.

For New Positions:

Buy Nifty with a stop loss of 11,050 and target 11,175, 11,225, 11,300, 11,350.

Sell Nifty in 11,250-11,300 range with a stop loss of 11,350 and target 11,225, 11,175, 11,100.

Buy Bank Nifty with a stop loss of 22,600 and target 23,075, 23,200, 23,300, 23.400.

Sell Bank Nifty in 23,300-23,450 range with a stop loss of 23,550 and target 23,100, 23,000, 22,900, 22,800

12 Stocks In F&O Ban:

New In Ban: GMR Infra, Vodafone Idea, SAIL

Out of Ban: Century Textiles

Already in Ban:  Sun TV, L&T Finance, NALCO, Glenmark, BHEL, Adani Enterprises, M&M Finance, Escorts, JSPL

Rossari Biotech Listing: Listing Expected around 575-625 range. Short term investors’ book profit, keep stop loss 550.