Anil Singhvi’s Strategy November 18: Day support zone on Nifty is 12,750-12,800 & Bank Nifty is 28,750-28,850

Amid neutral global markets & futures & options (F&O), positive foreign institutional investors (FIIs) & sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, November 18, 2020.  

The domestic stocks markets closed with decent gains of around 0.70 per cent on Tuesday, November 17, 2020, amid global cues. The BSE 30-share index, Sensex, rose 315 points or 0.72 per cent to settle at 43,953. The NSE Nifty-50 index also added 94 points or 0.74 per cent to settle at 12,874. The Bank Nifty gained 587 points or 2.05 per cent to settle at 29,181.

The broader market at BSE also surged. Outperforming the Sensex, the BSE Mid-Cap index climbed 1.08 per cent and the BSE Small-Cap index zoomed 0.88 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 18: 

Day support zone on Nifty is 12,750-12,800 and day higher zone is 12,925-12,975, above that 13,025-13,075 is profit-booking zone. 

Day support zone on Bank Nifty is 28,750-28,850 and day higher zone is 29,275-29,550, above that 29,750-29,900 is profit-booking zone.

 The small day range for trading on Nifty is 12,800-12,925, while the medium and bigger ranges are 12,750-12,975 and 12,700-13,025, respectively.

 The small day range for trading on Bank Nifty is 28,850-29,275, while the medium and bigger ranges are 28,750-29,550 and 28,600-29,750, respectively.

FIIs Net Index long increased at 70% Vs 67%.

PCR unchanged at 1.59, India VIX up by 4% at 19.80.

For Existing Long Positions:

Nifty intraday and closing stop loss are 12,750.

Bank Nifty intraday and closing stop loss are 28,700.

For Existing Short Positions:

Nifty Intraday and closing stop loss are 13,000.

Bank Nifty Intraday and closing stop loss are 29,300.

For New Positions:

Buy Nifty in 12,750-12,800 range with a stop loss of 12,700 and target 12,875, 12,925, 12,975, 13,000, 13,025. 

Sell Nifty in 12,975-13,025 range with a stop loss of 13,100 and target 12,925, 12,875, 12,825.

For New Positions:

Buy Bank Nifty in 28,750-28,850 range with a stop loss of 28,600 and target 29,000, 29,175, 29,275, 29,550, 29,750.

Aggressive trader can buy in 28,950-29050 range with a stop loss of 28,900.

Sell Bank Nifty in 29,550-29,750 range with a stop loss of 29,900 and target 29,300, 29,200, 29,050.

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Total 8 Stocks in F&O Ban:

New in Ban: Tata Steel

Out of Ban: Tata Motors

7 Already in Ban: JSPL, BHEL, Canara Bank, IB housing, LIC housing, SAIL, Sun TV