Amid positive global markets, foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and cautious futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Monday, November 9, 2020. 

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Markets rose for the fifth straight session on Friday, November 6, 2020, amid massive foreign fund inflow. The Nifty 50 ended above the crucial 12,200 level & Sensex ended near 41,900-mark.

The Sensex at the Bombay Stock Exchange ended 553 points or 1.34 per cent higher at 41,893. Similarly, the Nifty of the National Stock Exchange surged 143 points or 1.18 per cent to 12,264. Bank Nifty rose 485.85 points, or 1.85 per cent, to end at 26,789.95.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 9: 

Day support zone on Nifty is 12,125-12,250, below that 11,975-12,025 is Strong Buy zone.

Day higher zone on Nifty is 12,350-12,425, above that 12,475-12,500 is profit-booking zone.

Day support zone on Bank Nifty is 26,750-26,850, below that 26,000-26,300 is Strong Buy zone.

Day higher zone on Bank Nifty is 27,075-27,150, above that 27,800-28,050 Profit Booking zone.

The small day range for trading on Nifty is 12,350-12,425, while the medium and bigger ranges are 12,275-12,475 and 12,125-12,500, respectively.

 The small day range for trading on Bank Nifty is 26,800-27,150, while the medium and bigger ranges are 26,500-27,500 and 26,300-27,800, respectively.

FIIs Net Index long increase to 67% Vs 65%.

Put-Call Ratio (PCR) overbought at 1.77 Vs 1.67, Alert at higher levels.

India VIX down by 2% at 20.50.

For Existing Long Positions

Nifty Intraday stop loss is 12,250 and closing stop loss is 12,125.

Bank Nifty Intraday stop loss is 26,500 and closing stop loss is 26,300.

For Existing Short Positions:

Nifty Intraday and closing stop loss are 12,375.

Bank Nifty Intraday and closing stop loss are 27,200.

For New Positions:

Buy Nifty with a stop loss of 12,250 and target 12,375, 12,425, 12,475, 12,500. 

Sell Nifty in 12,475-12,500 range with a stop loss of 12,550 and target 12,435, 12,400, 12,375, 12,325, 12,300.

For New Positions:

 Buy Bank Nifty with a stop loss of 26,800 and target 27,075, 27,150, 27,250, 27,400, 27,500, 27,800.

Sell Bank Nifty in 27,800-28,050 range with a stop loss of 28,200 and target 27,500, 27,300, 27,200.

Enters in F&O Ban: JSPL   

Already in Ban: SAIL        

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