Anil Singhvi’s Strategy September 21: Day Support Zone on Nifty is 11,375-11,450 & Bank Nifty is 21,650-21,800

Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, September 21, 2020. 

Benchmark domestic stocks on Friday, September 18, 2020, logged marginal losses amid mixed global cues. The Sensex at Bombay Stock Exchange declined 134 points, or 0.34 per cent, to close at 38,846. The Nifty at National Stock Exchange also fell 11 points, or 0.10 per cent, to settle at 11,505. Similarly, Nifty Bank fell 289.30 points, or 1.30 per cent, to 22,031.05.  

On the other hand, the broader market at BSE closed divergently. The Mid-cap added 0.26 per cent while the Small-cap slipped 0.32 per cent up.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 21: 

Day Support Zone on Nifty is 11,375-11,450 and day higher range is 11,575-11,625. 

Day support zone, Bank Nifty is 21,650-21,800 and day higher range is 22,325-22,475.

The small day range for trading on Nifty is 11,450-11,525, while the medium and bigger ranges are 11,400-11,575 and 11,375-11,625, respectively. 

The small day range for trading on Bank Nifty is 21,800-22,200, while the medium and bigger ranges are 21,700-22,325 and 21,650-22,475, respectively. 

Big short-covering by FIIs, Net index long increased to 55% Vs 47%. 

PCR comfortable at 1.37, VIX at 20.05.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,425.

Bank Nifty intraday stop loss is 21,800 and closing stop loss is 22,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11650

Bank Nifty intraday stop loss is 22,325 and closing stop loss is 22,600.

For New Positions:

Buy Nifty in 11,375-11,450 range with a stop loss of 11,300 and target 11,500, 11,525, 11,575. 

Sell Nifty in 11,575-11,625 range with a stop loss of 11,675 and target 11,525, 11,500, 11,450.

Buy Bank Nifty in 21,650-21,800 range with a stop loss of 21,450 and target 21,900, 22,000, 22,075, 22,200, 22,300. 

Sell Bank Nifty in 22,300-22,475 range with a stop loss of 22,550 and target 22,200, 22,100, 22,000, 21,800. 

Total 10 Stocks In F&O Ban:

Enter in Ban: Glenmark

4 Out Of Ban: Escorts, IB Housing, Bank of Baroda, Auro Pharma

9 Already in Ban: BHEL, JSPL, Adani Enterprises, Canara Bank, Vedanta, Vodafone Idea, Tata Chemicals, SAIL, L&T Finance

Route Mobile Listing Preview: Strong Listing Expected in 650-700 range. Investors can hold with a stop loss of 600

CAMS IPO Preview: Apply for small listing gains and long-term investment. Strong business model, reasonable valuations

See Zee Business Live TV Streaming Below:

 Chemcon IPO Preview: Only for high-risk investors for strictly selling on listing day. Weak financials but listing gain possible