Anil Singhvi’s Strategy March 23: All Sectors are Negative; 9 Stocks enter F&O Ban list

Amid positive domestic institutional investors (DIIs), negative global markets, foreign institutional investors (FIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be negative on Monday, March 23, 2020.

Snapping four days of losing streak, the domestic market surged on Friday, March 20, 2020, as the recovery in global stock markets triggered bargain hunting in domestic shares. The barometer index, the S&P BSE Sensex, jumped 1627.73 points or 5.75% at 29,915.96. The Nifty 50 index surged 482 points or 5.83% at 8,745.45. Bank Nifty gained 234.10 points or 0.95% to 20,317.60.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 23:

As advised on Friday, be ready for another MINIMUM one or two round of SELL OFFs:

One: Due to US Markets

Second: our own Corona issues

Third: SEBIs action to Increase Margins and curb tradings

Next Important Support Zone on Nifty is 7,800-8,000, 7,300-7,500 and Bank Nifty is 18,700-19,300, 18,000-18,200.

Higher Range on Nifty is 8,900-9,200 and Bank Nifty is 20,900-21,000.

For Investors:

INVEST 35% CASH in Mutual Funds or Invest Directly at 7,200-7,500 range.

For TRADERS still Nahi Lena Hai… Nahi Lena Hai… Nahi Lena Hai…

If any Bounce back comes, ONLY EXIT..Nahi Fasna Hai… Nahi Fasna Hai… Nahi Fasna Hai…

For Existing Long Positions:

Nifty intraday and a closing stop loss of 8,250.

Bank Nifty intraday and a closing stop loss of 20,000.

For Existing Short Positions:

Nifty intraday and a closing stop loss of 8,900.

Bank Nifty intraday and a closing stop loss of 21,000.

For New Positions:

Sell Nifty with a stop loss of 8,650 and target 8,000, 7,850, 7,600, 7,500.

Sell Bank Nifty with a stop loss of 20,600 and target 19,300, 19,000, 18,700, 18,200, 18,000.

Put-Call Ratio (PCR) High 1.19, Volatility Index (VIX) down 7% to 67.10.

Sectors:

Negative: All fall down

See Zee Business Live TV Streaming Below:

9 stocks enter in F&O Ban:

Adani Enterprises, Indiabulls Housing, Idea, Yes Bank, JSPL, Just Dial, NCC, PNB, PVR