Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Thursday, November 12, 2020.   

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The market extended its winning run to eighth consecutive trading sessions and closed near record highs on Wednesday, November 11, 2020. The key domestic indices gained amid positive global cues. The BSE 30-share index, Sensex, crossed 43,500-mark while the NSE Nifty-50 index ended near 12,750-level.

 The S&P BSE Sensex climbed 316.02 points or 0.73 per cent to settle at 43,593.67. The NSE Nifty-50 index also surged 118.05 points or 0.93 per cent to settle at 12,749.15. Bank Nifty gained 239 points or 0.84 per cent to close at 28,845. 

The broader market at BSE also surged but underperformed the Sensex. The BSE Mid-Cap index rose 0.77 per cent and the BSE Small-Cap index added 0.34 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 12: 

Day support zone on Nifty is 12,625-12,650, below that 12,475-12,550 is Strong Buy zone.

Day higher zone on Nifty is 12,775-12,800, above that 12,875-12,925 is Profit Booking zone.

Day support zone on Bank Nifty is 28,500-28,600, below that 28,050-28,200 is Strong Buy zone.

Day higher zone on Bank Nifty is 29,050-29,175, above that 29,275-29,550 is Profit Booking zone.

The small day range for trading on Nifty is 12,700-12,800, while the medium and bigger ranges are 12,625-12,875 and 12,575-12,925, respectively. 

The small day range for trading on Bank Nifty is 28,600-29,050, while the medium and bigger ranges are 28,500-29,175 and 28,200-29,275, respectively. 

FIIs Net Index long unchanged near the overbought level at 75%

Put-Call Ratio (PCR) at 1.66 Vs 1.71, India VIX up by 2% at 22.03

For Existing Long Positions:

Nifty Intraday and closing stop loss are 12,600.

Bank Nifty Intraday and closing stop loss are 28,500.

For Existing Short Positions:

Nifty Intraday and closing stop loss are 12,800.

Bank Nifty Intraday and closing stop loss are 29,075.

For New Positions:

Buy Nifty in 12,625-12,650 range with a stop loss of 12,550 and target 12,700, 12,750, 12,775, 12,800.

Aggressive traders can buy with a stop loss of 12,625 and target 12,775, 12,800, 12,875, 12925

Sell Nifty in 12,875-12,950 range with a stop loss of 13,000 and target 12,800, 12,750, 12,700.

For New Positions:

Buy Bank Nifty in 28,050-28,200 range with a stop loss of 27,900 and target 28,500, 28,600, 28,800. 

Aggressive traders can buy in 28,500-28,600 range with a stop loss of 28,400 and target 28,800, 28,950, 29,025, 29,175, 29,275, 29,550. 

Sell Bank Nifty in 29,275-29,550 range with a stop loss of 29,600 and target 29,200, 29,050, 28,950, 28,850.

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