Anil Singhvi’s Strategy October 1: Day support zone on Nifty is 11,175-11,225 & Bank Nifty is 21,150-21,275

Amid positive global markets, domestic institutional investors (DIIs), sentiments and neutral foreign institutional investors (FIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, October 1, 2020.

Domestic share markets closed with marginal gains on Wednesday, September 30, 2020. The Sensex at Bombay Stock Exchange climbed 94.71 points, or 0.25 per cent, to close at 38,067.93. The Nifty at National Stock Exchange also added 25.15 points, or 0.04 per cent, to settle at 11,247.55. Nifty Bank settled 40.50 points, or 0.02 per cent, up at 21,451.80.  

The broader market at BSE underperformed the Sensex. The Mid and Small-cap indices closed almost flat. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 1: 

Market to turn strong if Nifty and Bank Nifty closes above 11,300 & 22,050. 

Day support zone on Nifty is 11,175-11,225 and the day higher range is 11,350-11,450. 

Day support zone on Bank Nifty 21,150-21,275 and the day higher range is 21,800-21,950.  

The small day range for trading on Nifty is 11,250-11,350, while the medium and bigger day ranges are 11,225-11,400 and 11,175-11,450, respectively.  

The small day range for trading on Bank Nifty is 21,375-21,650, while the medium and bigger day ranges are 21,275-21,800 and 21,150-21,950, respectively.  

FIIs Net Index long increased to 56% Vs 52%  

Put-Call Ratio (PCR) 1.34 Vs 1.28, India Volatility Index (VIX) down 1% at 19.53.  

For Existing Long Positions: 

Nifty intraday and closing stop loss are 11,175. 

Bank Nifty intraday and closing stop loss are 21,350. 

For Existing Short Positions: 

Nifty intraday and closing stop loss are 11,325. 

Bank Nifty intraday and closing stop loss are 21,550. 

For New Positions: 

Buy Nifty with a stop loss of 11,175 and target 11,300, 11,350, 11,400, 11,450. 

Sell Nifty in 11,400-11,450 range with a stop loss of 11,500 and target 11,350, 11,300, 11,250.  

Buy Bank Nifty with a stop loss of 21,350 and target 21,650, 21,700, 21,800, 21,950, 22,050.  

Sell Bank Nifty in 21,900-22,050 range with a stop loss of 22,200 and target 21,800, 21,700, 21,650, 21,550.

Already in F&O Ban: Vedanta  

CAMS IPO Listing Preview: 

Expected to list in 1600-1650 range, hold for long-term, a good portfolio stock. Short-term investors keep stop loss 1550. 

See Zee Business Live TV Streaming Below:

Chemcon IPO Listing Preview: 

Strong listing expected in 675-725 range. Short-term investors keep stop loss 625. Keep trailing your stop loss.