Anil Singhvi’s Strategy September 16: Amid neutral global markets, futures & options (F&O), sentiment, positive foreign institutional investors (FIIs) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, September 16, 2020.

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Benchmark domestic stocks on Tuesday, September 15, 2020, gained more than 0.7 per cent amid positive global cues. The Sensex at Bombay Stock Exchange climbed 288 points, or 0.74 per cent, to close at 39,044. The Nifty at National Stock Exchange also rose 82 points, or 0.72 per cent, to settle at 11,522. Bank Nifty gained 364 points, or 1.65 per cent, to close at 22,466.

On the other hand, the broader market at BSE outperformed the Sensex. The Mid-cap surged 0.85 per cent and Small-cap jumped 1.44 per cent up.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 16: 

Day support zone on Nifty is 11,450-11,500, below that 11,325-11,375 is strong buy zone and 11,575-11,650 is day higher range

Day support zone on Bank Nifty is 22,075-22,275, the day higher range is 22,650-22,750 and above that 22,850-23,050 is strong profit booking zone.

The small day range for trading on Nifty is 11,500-11,575, while the medium and bigger day range is 11,450-11,600 and 11,375-11,650, respectively.

The small day range for trading on Bank Nifty is 22,275-22,650, while the medium and bigger day range is 22,200-22,750 and 22,075-22,850, respectively.

FIIs net index long at 52% Vs 51%, PCR 1.36 Vs 1.47, VIX down 3% to 20.60

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,425.

Bank Nifty intraday stop loss is 22,000 and closing stop loss is 22,250.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,600.

Bank Nifty intraday and closing stop loss are 22,650

For New Positions:

Buy Nifty in 11,450-11,500 range with a stop loss of 11,375 and target 11,525, 11,575, 11,600, 11,650.

Sell Nifty in 11650-11700 range with a stop loss of 11,800 and target 11,600, 11,525, 11,500.

Buy Bank Nifty in 22,075-22,275 range with a stop loss of 22,000 and target 22,450, 22,550, 22,650, 22,750, 22,850. 

Sell Bank Nifty in 22,650-22,850 range with a stop loss of 23,000 and target 22,550, 22,450, 22,300.

Aggressive traders can sell in 22,650-22,700 range with a strict stop loss of 22,750. 

10 Stocks In F&O Ban:

2 Enter in Ban: Vodafone Idea, Tata Chemicals

8 Already in Ban: Bank of Baroda, IB Housing, BHEL, JSPL, Adani Enterprises, Canara Bank, Vedanta, Escorts