Anil Singhvi’s Strategy November 23: Day support zone on Nifty is 12,750-12,825 & Bank Nifty is 28,850-29,050; Buy Reliance Cash with Stop loss 1875

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 Monday, November 23, 2020.  

Key domestic indices on Friday, November 20, 2020, climbed in sync with gains in global stocks. The BSE 30-share index, Sensex, rose 282.29 points or 0.65 per cent to settle at 43,882.25. The NSE Nifty-50 index also added 87.35 points or 0.68 per cent to settle at 12,859.05. Similarly, Bank Nifty gained 332.95 points, or 1.15 per cent, and settled at 29,236. 

The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index surged 1.22 per cent while the BSE Small-Cap index appreciated 0.77 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 23: 

Day support zone on Nifty is 12,750-12,825 and day higher zone is 12,935-12,965, above that 13,050-13,100 is Profit-booking zone.

Day support zone on Bank Nifty is 28,850-29,050 and day higher zone is 29,600-29,750, above that 29,900-30,150 is Profit-booking zone. 

The small day range on Nifty is 12,825-12,935, while the medium and bigger ranges are 12,800-12,965 and 12,750-13,000, respectively. 

The small day range on Bank Nifty is 29,175-29,600, while the medium and bigger ranges are 29,050-29,750 and 28,800-29,900, respectively.

FIIs Index long increased at 70% Vs 68%.

PCR at 1.57 Vs 1.47, India VIX up unchanged at 19.62.

For Existing Long Positions:

Nifty intraday and closing stop loss are 12,725.

Bank Nifty intraday and closing stop loss are 29,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,000.

Bank Nifty intraday and closing stop loss are 29,600.

For New Positions:

Buy Nifty with a stop loss of 12,800 and target 12,935, 12,965, 13,000, 13,050. 

Aggressive traders Sell Nifty in 12,975-13,025 range with a stop loss of 13,100 and target 12,935, 12,900, 12,875.

For New Positions:

Buy Bank Nifty with a stop loss of 29,000 and target 29,400, 29,600, 29,750, 29,900. 

Sell Bank Nifty in 29,900-30,150 range with a stop loss of 30,300 and target 29,750, 29,600, 29,500.

Aggressive trader can sell in 29600-29750 range with strict stop loss of 29,800 and target 29,400, 29,275, 29,200, 29,075.

Total 10 Stocks in F&O Ban:

Enters in Ban: NALCO

Out of Ban: SAIL, Sun TV

9 Already in Ban: BHEL, Canara Bank, IB housing, RBL Bank, Bk of Baroda, PNB, Idea, DLF, L&T Fin Holdings

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Stock of the Day: Buy Reliance Cash: Stop loss 1875 and target 1950, 1975, 2000. Reliance retail venture gets CCI approval.