Anil Singhvi’s Strategy July 31: Day support zone on Nifty is 10,950-11,050 & Bank Nifty is 21,500-21,650

Anil Singhvi’s Strategy July 31: Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, July 31, 2020.

Benchmark domestic stocks on Thursday, July 30, 2020, lost around 0.9 per cent amid negative global cues. Negative global cues spoiled investors’ sentiment. Trading was volatile as the July 2020 F&O contracts expired yesterday.

The Sensex at Bombay Stock Exchange declined 335 points, or 0.88 per cent to close at 37,736. Similarly, Nifty at National Stock Exchange fell 101 points, or 0.9 per cent, to settle at 11,102. Bank Nifty lost 430 points, or 1.95%, to settle at 21,647. 

See Zee Business Live TV streaming below:

In the broader market at BSE, the Mid-cap and Small-cap outperformed the Sensex. Mid-cap closed 0.38 per cent down and Small-cap slipped 0.43 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 31: 

Day support zone on Nifty is 10,950-11,050 and the day higher range is 11,200-11,250, above that 11,300-11,350 is profit booking range.

Day support zone on Bank Nifty is 21,500-21,650, below that 21,250-21,400 next support zone.

Day higher range on Bank Nifty is 21,800-21,950, above that 22,075-22,250 is the profit-booking range.

The small day range for trading on Nifty is 11,050-11,200, while the medium and bigger ranges are 11,000-11,225 and 10,950-11,300, respectively.

The small day range for trading on Bank Nifty is 21,500-21,800, while the medium and bigger ranges are 21,400-21,900 and 21,250-22,075, respectively.

Put-Call Ratio (PCR) is 1.49, India Volatility Index (VIX) 3% up at 24.73.

For Existing Long Positions:

Nifty intraday stop loss is 11,075 and closing stop loss is 11,000.

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

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,300.

Bank Nifty intraday and closing stop loss are 21,900.

For New Positions:

Buy Nifty with a stop loss of 11,000 and target 11,150, 11,200, 11,225, 11,250. 

Sell Nifty in 11,225-11,300 range with a stop loss of 11,350 and target 11,200, 11,150, 11,100.

Buy Bank Nifty with a stop loss of 21,500 and target 21,800, 21,900, 22,000, 22,075. 

Sell Bank Nifty in 21,900-22,100 range with a stop loss of 22,250 and target 21,800, 21,650, 21,550.

No Stock in F&O Ban

Result Analysis:

Torrent Pharma (Cash): Excellent operational performance. Trading range 2,350-2,515.