Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, November 5, 2020.

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Equity benchmarks on Wednesday, November 4, 2020, logged gains amid positive global cues and ahead of the US Presidential Election outcome. The Nifty managed to close above the 11,900-mark. Pharma and IT shares climbed while realty and metal shares declined.

The S&P BSE Sensex, gained 355.01 points or 0.88 per cent to settle at 40,616.14. It hit a low of 40,076.47 in afternoon trade and a high of 40,693.51 in late trade. The 30-unit index has advanced 2.53 per cent in three sessions. The NSE Nifty-50 index also rose 95 points or 0.80 per cent to settle at 11,908.50. Nifty Bank gained 88.80 points or 0.35 per cent to close at 25,771.60. It hovered between 11,756.40 and 11,929.65 during the day. The 50-unit index has risen 2.29 per cent in three days.

The broader market at BSE also climbed but underperforming the Sensex. The BSE Mid-Cap index rose 0.43 per cent and the BSE Small-Cap index appreciated 0.33 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 5: 

Day support range on Nifty is 11,725-11,825, below that 11,550-11,650 is Strong Buy zone.

Day higher range on Nifty is 11,975-12,025, above that 12,100-12,175 is Profit Booking zone. 

Day support range on Bank Nifty is 25,100-25,250, below that 24,750-24,900 is Strong Buy zone.

Day higher range on Bank Nifty is 26,000-26,250, above that 26,450-26,750 is Profit Booking zone.

The small day range for trading on Nifty is 11,825-12,025, while the medium and bigger ranges are 11,750-12,100 and 11,650-12,175, respectively.

The small day range for trading on Bank Nifty is 25,500-26,000, while the medium and bigger ranges are 25,250-26,250 and 25,100-26,450, respectively. 

FIIs Net Index long reduced to 48% Vs 50%

Put-Call Ratio (PCR) at 1.54 Vs 1.59, India VIX 4% down at 23.20

For Existing Long Positions:

Nifty Intraday stop loss is 11,825 and closing stop loss is 11,725.

Bank Nifty Intraday and closing stop loss are 25,450.

For Existing Short Positions:

Nifty Intraday and closing stop loss are 12,025.

Bank Nifty Intraday and closing stop loss are 26,000.

For New Positions:

Buy Nifty in 11,750-11,825 range with a stop loss of 11,650 and target 11,925, 11,975, 12,025, 12,100, 12,175. 

Sell Nifty in 12,125-12,200 range with a stop loss of 12,300 and target 12,050, 12,000, 11,950, 11,900.

For New Positions: 

Buy Bank Nifty in 25,100-25,250 range with a stop loss of 24,900 and target 25,350, 25,500, 25,750, 25,850.

Aggressive traders can buy in 25,350-25,500 range with a stop loss of 25,200 and target 25,750, 25,850, 26,000, 26,225, 26,450.

Sell Bank Nifty in 26,450-26,750 range with a stop loss of 26,800 and target 26,250, 26,050, 25,900, 25,800.

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