Amid neutral global markets, foreign institutional investors (FIIs), futures & Options (F&O), sentiment, and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, October 14, 2020. 

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Equity benchmarks remained almost flat on Tuesday, October 13, 2020. However, the key indices added marginally to extend gains for the ninth session in a row amid mixed global cues. The BSE 30-share index, Sensex, gained 31.71 points, or 0.08 per cent, to settle at 40,625.51. The NSE Nifty 50 index also rose 3.55 points, or 0.03 per cent, to settle at 11,934.50. However, Bank Nifty fell 220.60 points, or 0.93 per cent, to 23,492.20. 

On the other hand, the broader market at BSE declined, underperforming the Sensex. The BSE Mid-Cap index fell 0.29 per cent and the BSE Small-Cap index slipped 0.12 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 14:

Day support zone on Nifty is 11,800-11,875, below that 11,725-11,750 is strong buy zone.

Day higher range on Nifty is 11,975-12,025, above that 12,075-12,150 is the profit booking zone.

Day support range on Bank Nifty is 23,075-23,200, below that 22,850-22,950 is strong buy zone.

Day higher range on Bank Nifty is 23,775-23,850, above that 23,950-24,150 is the strong sell zone.

The small day range for trading on Nifty is 11,875-11,940, while the medium and bigger day ranges are 11,800-11,975 and 11,750-12,025, respectively.

The small day range for trading on Bank Nifty is 23,200-23,700, while the medium and bigger day ranges are 23,075-23,850 and 22,950-23,950, respectively. 

FIIs Net Index long at 68% Vs 69%.

Put-Call Ratio (PCR) unchanged at 1.4, India Volatility Index (VIX) 2% down at 20.72. 

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,790.

Bank Nifty intraday and closing stop loss are 23,400.

For Existing Short Positions:

Nifty intraday and closing stop loss are 12,025.

Bank Nifty intraday and closing stop loss are 23,850.

For New Positions:

Buy Nifty in 11,800-11,875 range with a stop loss of 11,725 and target 11,925, 11,975, 12,000, 12,025.

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

For New Positions:

Buy Bank Nifty in 23,050-23,200 range with a stop loss of 22,950 and target 23,400, 23,500, 23,700. 

Sell Bank Nifty with a stop loss of 23,850 and target 23,200, 23,075, 23,025, 22,950.

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7 Stocks in F&O Ban:

New in Ban: Escorts

Already in Ban:  Idea, BHEL, Adani Enterprises, JSPL, Canara Bank, SAIL