Anil Singhvi’s Strategy September 18: Amid negative global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs) and neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, September 18, 2020. 

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Domestic stock markets snapped a two-day rising streak on and closed in a red on Thursday, September 17, 2020. Markets witnessed selling pressure amidst profit-booking and weak global sentiments. The Sensex at Bombay Stock Exchange declined 323 points, or 0.82 per cent, to close at 38,980. The Nifty at National Stock Exchange also fell 88 points, or 0.76 per cent, to settle at 11,516. Bank Nifty dropped 246 points, or 1.09 per cent, to 22,327.

The broader market at BSE also witnessed losses. The Mid-cap slipped 0.24 per cent and Small-cap depreciated 0.53 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 18: 

Day support zone on Nifty is 11,425-11,475 and day higher range is 11,550-11,625, respectively. 

Day support zone on Bank Nifty is 22,075-22,225 and day higher range is 22,500-22,650.

The small day range for trading on Nifty is 11,500-11,550, while the medium and bigger day range are 11,450-11,575 and 11,425-11,625, respectively. 

The small day range for trading on Bank Nifty is 22,225-22,450, while the medium and bigger day range are 22,075-22,575 and 22,000-22,675, respectively.

A big reduction in FIIs net index long at 47% Vs 50%. 

PCR 1.43 Vs 1.61, VIX up 2% to 20.10 

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,425.

Bank Nifty intraday and closing stop loss are 22,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,650.

Bank Nifty intraday and closing stop loss are 22,700.

For New Positions:

Buy Nifty in 11,425-11,475 range with a stop loss of 11,400 and target 11,500, 11,525, 11,575, 11,600.

Sell Nifty in 11,575-11,625 range with a stop loss of 11,650 and target 11,525, 11,500, 11,475.

Buy Bank Nifty in 22,075-22,225 range with a stop loss of 22,000 and target 22,325, 22,450, 22,500, 22,575, 22,650.

Sell Bank Nifty in 22,500-22,650 range with a stop loss of 22,750 and target 22,450, 22,325, 22,225. 

13 Stocks In F&O Ban:

2 Enter in Ban: SAIL, L&T Finance

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

Vodafone Idea, Tata Chemicals, Auro Pharma