Anil Singhvi’s Strategy October 15: Day support zone on Nifty is 11,900-11,935 & Bank Nifty is 23,450-23,550

Amid negative global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral Futures & Options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, October 15, 2020. 

Benchmark indices for the 10th consecutive day ended near the day's high after a volatile session on Wednesday, October 14, 2020. The S&P BSE Sensex added 169.23 points, or 0.42 per cent, to close at 40,794.74. The Nifty 50 index rose 36.55 points, or 0.31 per cent, to 11,971.05. The Nifty Bank gained 382.45 per cent, or 1.63 per cent, to settle at 23,874.65. 

On the other hand, the broader market at BSE, the mid and small Caps closed divergently. The BSE Mid-Cap index gained half a per cent and the BSE Small-Cap index fell 0.19 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 15:

Day support zone on Nifty is 11,900-11,935, below that 11,825-11,875 is strong buy zone. 

Day higher range on Nifty is 12,000-12,025, above that 12,075-12,150 is profit booking zone.

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

Day higher range on Bank Nifty is 24,050-24,175, above that 24,450-24,550 is strong sell zone.

The small day range for trading on Nifty is 11,935-12,025, while the medium and bigger day range is 11,875-12,075 and 11,825-12,125, respectively. 

The small day range for trading on Bank Nifty is 23,700-24,050, while the medium and bigger day range is 23,550-24,175 and 23,450-24,450, respectively.

FIIs Net Index long at 66% Vs 68%

Put-Call Ratio (PCR) 1.42 Vs 1.4, India Volatility Index (VIX) 2% down at 20.21. 

For Existing Long Positions:

Nifty intraday stop is 11,800 and closing stop loss 11,900.

Bank Nifty intraday stop loss is 23,700 and closing stop loss is 23,450. 

For Existing Short Positions:

Nifty intraday and closing stop loss are 12,025.

Bank Nifty intraday stop loss is 24,200 and closing stop loss is 24,000.

For New Positions:

Buy Nifty in 11,875-11,935 range with a stop loss of 11,800 and target 11,975, 12,000, 12,025, 12,075, 12,125. 

Sell Nifty in 12,075-12,125 range with a stop loss of 12,200 and target 12,025, 12,000, 11,950.

Buy Bank Nifty in 23,450-23,550 range with a stop loss of 23,400 and target 23,700, 23,850, 23,950, 24,050, 24,175. 

Sell Bank Nifty in 24,075-24,200 range with a stop loss 24,300 and target 23,950, 23,850, 23,750. 

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11 Stocks in F&O Ban:

4 New in Ban: IB Housing, Mindtree, PNB, PVR

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