Anil Singhvis Market Strategy November 16: Market to be Positive; Yes Bank Futures is Stock of the Day
Positive foreign institutional investors (FII), future and option (F&O), sentiments and neutral global market and domestic institutional investors (DIIs) suggests that the short-term trend of the Indian market will be positive on November 16, 2018.
Indian markets ended the day, November 15, 2018, in the green with Nifty 50 closing up by 40.40 points or 0.38 per cent at 10,616.70 while Nifty Bank was up by 224.60 points or 0.87 per cent and closed at 26,154.75. S&P BSE Sensex was up by 118.55 points or 0.34 per cent and closed 35,260.54.
Positive foreign institutional investors (FII), future and option (F&O), sentiments and neutral global market and domestic institutional investors (DIIs) suggests that the short-term trend of the Indian market will be positive on November 16, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 16:
10,600 and 26,000 are going to be the deciding levels on Nifty and Bank Nifty.
The small and bigger trading range on Nifty stands between the mark of 10,550-10,650 and 10,525-10,700 respectively. The extreme range lies at 10,450-10,725.
In the case of BankNifty, the small trading range lies at 26,000-26,200 while the bigger and extreme ranges rest between the mark of 25,900-26,300 and 25,750-26,500 respectively.
The intraday support zone on Nifty and BankNifty stands at 10,525-10,550 and 25,900-26,000 respectively.
Traders are advised to reduce their buying positions when the two indices, Nifty and BankNifty, closed below the mark of 10,525 and 25,750 respectively.
Sell and Buy strategy on Nifty
Buy Nifty in the range of 10525-10550 with a stop loss of 10,475 and target 10,600, 10,650 and 10,700.
Sell Nifty in the range of 10650-10700 with a stop loss of 10,725 and target of 10,600-10,575.
Sell and Buy strategy on BankNifty
Buy Bank Nifty in the range of 25900-26050 with a stop loss of 25,750 and target of 26,150, 26,200 and 26,300.
Sell Bank Nifty in the range of 26300-26400 with a stop loss of 26,500 and target of 26,200, 26,050 and 25,900.
Enters F&O ban: Adani Enterprises
Out of ban: Nil
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Already in F&O ban: Adani Power, Jet Airways
The put-call ratio (PCR) stands at 1.61 and the volatility index (VIX) is 18.45.
Stock of the Day:
Sell Yes Bank Futures only below 200: Stop Loss 207 and target of 192, 185. Keep trailing Stop Loss of 212 if you sold yesterday.
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