Anil Singhvi’s Strategy October 13: Day support zone on Nifty is 11,800-11,850 & Bank Nifty is 23,450-23,550

Amid neutral global markets, futures & Options (F&O), sentiment, negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, October 13, 2020. 

Domestic equity benchmarks ended with minor gains after a volatile session on Monday, October 12, 2020. The S&P BSE Sensex gained 84.31 points or 0.21 per cent to close at 40,593.80. The Nifty 50 index added 16.75 points or 0.14 per cent to end at 11,930.95. However, Bank Nifty closed 134 points or 0.56 per cent low at 23,712.80.

On the other hand, the broader market at BSE declined, underperforming the Sensex. The BSE Mid-Cap index fell 0.48 per cent and the BSE Small-Cap index slipped 0.4 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 13:

Day support zone on Nifty is 11,800-11,850, below that 11,725-11,775 is strong buy zone.

Day higher range on Nifty is 11,975-12,025, above that 12,100-12,150 is profit booking zone.

Day support range on Bank Nifty is 23,450-23,550, below that 23,075-23,200 is the strong buy zone.

Day higher range on Bank Nifty is 23,900-24,050, if sustains above 24,200, 24,450, 24,550 is the strong sell zone.

The small day range for trading on Nifty is 11,850-11,975, while the medium and bigger day ranges are 11,800-12,025 and 11,750-12,100, respectively. 

The small day range for trading on Bank Nifty is 23,550-23,850, while the medium and bigger day ranges are 23,450-23,950 and 23,200-24,175, respectively.

FIIs Net Index long at 69% Vs 72% 

Put-Call Ratio (PCR) 1.4 Vs 1.6, India Volatility Index (VIX) 4% up at 21.13. 

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,790.

Bank Nifty intraday and closing stop loss are 23,450.

For Existing Short Positions:

Nifty intraday and closing stop loss are 12,025

Bank Nifty intraday and closing stop loss are 24,200.

For New Positions:

Buy Nifty in 11,800-11,850 range with a stop loss of 11,725 and target 11,900, 11,925, 12,000, 12,025.

Sell Nifty with a stop loss of 12,025 and target 11,875, 11,850, 11,800, 11,775.

Buy Bank Nifty in 23,450-23,550 range with STRICT stop loss of 23,400 and target 23,700, 23,850, 23,950, 24,050.  

Sell Bank Nifty in 23,950-24,050 range with a stop loss of 24,200 and target 23,850, 23,725, 23,550, 23,450.

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6 Stocks in F&O Ban:

New in Ban:  Canara Bank, SAIL

Out of Ban: Vedanta

Already in Ban:  Idea, BHEL, Adani Enterprises, JSPL