Amid neutral global markets, futures & options (F&O), positive domestic institutional investors (DIIs), sentiments and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, September 30, 2020. 

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Domestic share markets closed flat amid negative global markets on Tuesday, September 29, 2020. The Sensex at Bombay Stock Exchange slipped 8.41 points, or 0.02 per cent, to close at 37,973.22. The Nifty 50 at National Stock Exchange also ended 5.15 points, or 0.05 per cent, down to settle at 11,222.40. The Nifty Bank fell 254.20 points, or 1.17 per cent, to 21,411.30. 

The broader market at BSE also remained almost unchanged. The Mid-cap fell 0.16 per cent while the Small-cap ended negligibly by 0.01 per cent down.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 30:

Market to turn strong if Nifty and Bank Nifty closes above 11,300 & 22,050, respectively. 

Day support zone on Nifty is 11,050-11,175 and day higher range is 11,300-11,400. 

Day support zone on Bank Nifty is 21,150-21,275, below that 20,850-21,050 is strong buy zone. 

Day higher range on Bank Nifty is 21,650-21,800, above that 21,950-22,050 is profit booking zone.

Small Day Range for trading on Nifty is 11,175-11,300, while the medium and bigger ranges are 11,125-11,350 and 11,075-11,400, respectively. 

Small Day Range for trading on Bank Nifty is 21,275-21,650, while the medium and bigger ranges are 21,150-21,700 and 21,050-21,800, respectively. 

FIIs Net Index long reduced to 52% Vs 58% 

Put-Call Ratio (PCR) 1.28 Vs 1.37, India Volatility Index (VIX) up 1% at 19.78. 

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,175.

Bank Nifty intraday stop loss is 21,275 and closing stop loss is 21,150. 

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,325

Bank Nifty intraday and closing stop loss are 21,800

For New Positions:

Buy Nifty in 11,100-11,175 range with a stop loss of 11,050 and target 11,225, 11,250, 11,300, 11,350. 

Sell Nifty in 11,300-11,400 range with a stop loss of 11,500 and target 11,250, 11,225, 11,200.

Buy Bank Nifty in 21,050-21,275 range with a stop loss of 20,900 and target 21,350, 21,450, 21,650. 

Sell Bank Nifty in 21,750-21,950 range with a stop loss of 22,050 and target 21,650, 21,375, 21,275.

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