Anil Singhvi’s Strategy November 20: Day support zone on Nifty is 12,700-12,725 & Bank Nifty is 28,450-28,600

Amid neutral global markets, foreign institutional investors (FIIs), futures & options (F&O) & sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, November 20, 2020.  

Key domestic indices on Thursday, November 19, 2020, plunged around 1.3 per cent in sync with losses in global stocks. The BSE 30-share index, Sensex lost 580.09 points or 1.31 per cent to settle at 43,599.96. The NSE Nifty-50 index also declined 166.55 points or 1.29 per cent to settle at 12,771.70. The Bank Nifty lost 846.80 points or 2.85 per cent and settled at 28,903.05.

The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index fell 0.65 per cent while the BSE Small-Cap index added marginally by 0.03 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 20: 

Day support zone on Nifty is 12,700-12,725, below that 12,575-12,625 is strong Buy zone.

Day higher zone on Nifty is 12,875-12,935. 

Day support zone on Bank Nifty is 28,450-28,600, below that 28,075-28,275 is strong Buy zone.

Day higher zone on Bank Nifty is 29,050-29,175, above that 29,600-29,750 is Profit-booking zone.

The small day range for trading on Nifty is 12,750-12,825, while the medium and bigger day ranges are 12,700-12,875 and 12,625-12,930, respectively. 

The small day range for trading on Bank Nifty is 28,600-29,075, while the medium and bigger day ranges are 28,450-29,200 and 28,300-29,600, respectively. 

FIIs Index long decreased at 68% Vs 71%.

PCR at 1.47 Vs 1.67, India VIX up by 2% at 19.57.

For Existing Long Positions:

Nifty intraday stop loss is 12,700 and closing stop loss is 12,750.

Bank Nifty intraday and closing stop loss are 28,800.

For Existing Short Positions:

Nifty Intraday stop loss is 12,875 and closing stop loss is 12,950.

Bank Nifty intraday and closing stop loss are 29,250.

For New Positions:

Buy Nifty in 12,625-12,700 range with a stop loss of 12,575 and target 12,750, 12,825, 12,875, 12,925.

Sell Nifty in 12,875-12,925 range with a stop loss of 13,000 and target 12,825, 12,775, 12,750, 12,700.

For New Positions:

Buy Bank Nifty in 28,075-28,275 range with a stop loss of 28,000 and target 28,450, 28,600, 28,725, 28,825.

The aggressive trader can buy in 28,450-28,600 range with a strict stop loss of 28,400.

Sell Bank Nifty in 29,600-29,750 range with a stop loss of 29,800 and target 29,450, 29,300, 29,200, 29,075. 

Aggressive trader can sell in 29,175-29,225 range with strict stop loss of 29,300 and target 29,075, 28,900, 28,825, 28,750, 28,600, 28,450.

Total 11 Stocks in F&O Ban:

2 Enters In Ban: DLF, L&T Fin Holdings

Out Of Ban: Tata Steel, JSPL

9 Already in Ban: BHEL, Canara Bank, IB housing, SAIL, Sun TV, RBL Bank, Bk of Baroda, PNB, Idea

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Gland Pharma Listing: Expected to list in 1550-1600 range. This stock is for high risk-taking Long term Investors only.