Anil Singhvi’s Strategy July 14: Day support zone on Nifty is 15,725-15,750 & Bank Nifty is 35,300-35,400

Amid neutral global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, July 14, 2021. 

Key equity indices closed with decent gains on Tuesday, July 13, 2021. The S&P BSE Sensex advanced 397.04 points or 0.76 per cent to close at 52,769.73. The Nifty 50 index added 119.75 points or 0.76 per cent to settle at 15,812.35. The Bank Nifty index rose 474.50 points or 1.35 per cent to end at 35,673.40.

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In the broader markets, the BSE MidCap index ended flat while the BSE SmallCap index advanced 0.46 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 14:          

Day support zone on Nifty is 15,725-15,750, below that 15,625-15,675 is a strong Buy zone.

Day higher zone on Nifty is 15,835-15,860, above that 15,880-15,915 is a strong sell zone.

Day support zone on Bank Nifty is 35,300-35,450, below that 35,075-35,200 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,725-35,825, above that 35,950-36,100 is a strong Sell zone.

Small Day Range for trading on Nifty is 15,750-15,835, while the medium and bigger day ranges are 15,725-15,860 and 15,675-15,875, respectively.

Small Day Range for trading on Bank Nifty is 35,425-35,825, while the medium and bigger day ranges are 35,375-35,950 and 35,200-36,100, respectively.

Big increase in FIIs Index long position due to short-covering and fresh Buying in the index at 70% Vs 58%

PCR still lower at 1.1 vs 0.87

India VIX Down by 2.85% at 12.62

For Existing Long Positions:

Nifty intraday stop loss is 15,625 and closing stop loss is 15,675.

Bank Nifty intraday and closing stop loss are 35,275.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,925.

Bank Nifty intraday and closing stop loss are 35,850.

For New Positions:

Buy Nifty in 15675-15750 range with a stop loss of 15,625 and target 15,790, 15,815, 15,835, 15,860, 15,880.

Sell Nifty with a stop loss of 15,925 and target 15,750, 15,725, 15,690, 15,650.

For New Positions:

BUY Bank Nifty in 35,300-35,450 range with a stop loss of 35,050 and target 35,575, 35,675, 35,725, 35,800, 35,950.

Sell Bank Nifty with strict Stop Loss of 35,850 and target 35,575, 35,450, 35,375, 35,300, 35,225.

F&O Ban Update: 

New In Ban: SUN TV

Already In Ban: Granules, VODAFONE-IDEA, NALCO, PNB, NMDC, SAIL, 

(total 7 stocks in a ban). 

Out of Ban: Indiabulls Housing Finance

Stock of the day: Buy Welspun India with a stop loss of 114 and target 122, 127, 133. Cabinet may approve ROSL scheme for the textile sector in 2024.

ZOMATO IPO: APPLY FOR REASONABLE LISTING GAINS AND LONG TERM

Only high risk-taking investors apply for a long term in small quantity.

Positives:

1st company to list for unique biz model

Huge growth potential

Cash-rich company

Negatives:

Big competition from Swiggy and threat from Amazon

Big expenditure on advertisement possible

Highly Competitive Business

It may take 3-4 years to become profitable

Valuation not cheap doesn't leave for big upside on listing