Anil Singhvi’s Strategy July 27: Day support zone on Nifty is 11,050-11,100 & Bank Nifty is 22,200-22,400

Amid neutral global markets, negative foreign institutional investors (FIIs), domestic institutional investors (DIIs), cautious futures & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, July 27, 2020. 

Benchmark domestic indices on Friday, July 24, 2020, fell marginally amid the plunge in global stocks. Sensex slipped 12 points, 0.03 per cent, at 38,129. Similarly, the Nifty lost 21 points, 0.19 per cent, to settle at 11,194. Likewise, Bank Nifty lost 422 points, or 1.83 per cent, to settle at 22,662.

In the broader market at BSE, the Mid-cap declined 0.59 per cent and the Small-cap fell 0.23 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 27: 

Day support zone on Nifty is 11,050-11,100, and the day higher range is 11,250-11,350. 

Day support zone on Bank Nifty is 22,200-22,400, below that 21,900-22,050 is strong buy zone.

Day higher range on Bank Nifty is 22,850-22,950, above that 23,075-23,200 is profit booking range.

The small day range on Nifty is 11,150-11,250, while the medium and bigger ranges are 11,100-11,300 and 11,050-11,350, respectively.

The small day range on Bank Nifty is 2,500-22,850, while the medium and bigger ranges are 22,400-22,950 and 22,200-23,100, respectively. 

Put-Call Ratio (PCR) is 1.74, cautious at a higher level, India Volatility Index (VIX) at 24.54.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,050.

Bank Nifty intraday and closing stop loss are 22,400.

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 in 11,050-11,125 range with a stop loss of 11,000 and target is 11,175, 11,225, 11,300, 11,350. 

Sell Nifty in 11,300-11,350 range with a stop loss of 11,400 and target 11,250, 11,200, 11,175, 11,125.

Buy Bank Nifty in 22,250-22,450 range with a stop loss of 22,150 and target is 22,550, 22,650, 22,750, 22,850, 22,950.

Sell Bank Nifty in 22,900-23,100 range with a stop loss of 23,225, and target 22,800, 22,700, 22,600, 22,500.

10 Stocks In F&O Ban:

New Entry: IB Housing, RBL Bank

Out of Ban: L&T Finance, M&M Finance, JSPL

Already in Ban: Sun TV, NALCO, Glenmark, BHEL, Adani Enterprises, GMR Infra, Vodafone Idea, SAIL

See Zee Business Live TV Streaming Below:

Results Review:

ITC Futures: Inline Results. Support Zone is 185-188. Higher Range is 207-210. 

Ambuja Cements Futures: Strong results on low volumes. 190-220 is a trading range.

Yes Bank FPO Listing: Long-term investors hold for 20-25% annual returns.