Anil Singhvi’s Strategy November 10: Day support zone on Nifty is 17,900-17,975 & Bank Nifty is 38,950-39,125

Amid negative global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, November 10, 2021. 

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Indian stocks markets ended a volatile trading session on a flat note on Tuesday, November 9, 2021. The S&P BSE Sensex was down 112.16 points, or 0.16 per cent, to 60,433.45. The Nifty 50 index dropped 24.30 points, or 0.13 per cent, to 18,044.45. The Bank Nifty fell 69.45 points, or 0.18 per cent, to 39,368.80.

The broader markets outperformed the Sensex on the BSE with the S&P BSE MidCap rising 0.82 per cent and the S&P BSE SmallCap closing 0.67 per cent higher.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 10:

Day support zone on Nifty is 17,900-17,975, below that 17,800-17,850 is a strong Buy zone.

Day higher zone on Nifty is 18,050-18,100, above that 18,125-18,175 is a strong Profit booking zone.

Day support zone on Bank Nifty is 38,950-39,125, below that 38,525-38,675 is a strong Buy zone.

Day higher zone on Bank Nifty is 39,500-39,575, above that 39,675-39,750 is a Profit booking zone.

The small day range for trading on Nifty is 17,925-18,050, while the medium and bigger day ranges are 17,850-18,100 and 17,800-18,175, respectively.

The small day range for trading on Bank Nifty is 39,125-39,575, while the medium and bigger day ranges are 38,925-39,675 and 38,525-39,750, respectively.

FIIs Index long decreased to 51% Vs 60%.

PCR at 0.96 Vs 1.12.

India VIX is down by 2% at 16.00.

For Existing Long Positions:

Nifty Intraday stop loss is 17,900 and Closing stop loss is 17,800.

Bank Nifty Intraday and Closing Stop Loss are 38,900.

For Existing Short Positions:

Nifty Intraday and Closing Stop Loss are 18,125.

Bank Nifty Intraday and Closing Stop Loss are 39,600.

For New Positions:

Sell Nifty with a stop loss of 18,125 and target 17,975, 17,925, 17,900, 17,850, 17,800.

Buy Nifty in 17825-17925 range with a stop loss of 17,750 and target 17,975, 18,000, 18,050, 18,100.

For New Positions:

Sell Bank Nifty with a stop loss of 39,600 and target 39,125, 38,950, 38,775, 38,675, 38,525, 38,425.

Aggressive Traders Buy Bank Nifty in 38,950-39,125 range with a Strict stop loss of 38,900 and target 39,225, 39,300, 39,375, 39,450, 39,500, 39,575.

Buy Bank Nifty in 38,425-38,525 range with a stop loss of 38,350 and target 38,675, 38,775, 38,925, 39,125.

F&O Ban Update:

Already In Ban: Sun TV, Escorts, PNB

New In Ban: Nil

Out Of Ban: Nil

Nykaa Listing Preview:

Expected to list around 1900-2000.

Long Term Investors can HOLD.

Short Term Investors keep a stop loss of 1800.

Latent View Analytics IPO Preview: APPLY FOR BIG LISTING GAINS AND LONG TERM

Positives:

Amazing Promoters with No litigations.

New age Business with strong growth outlook.

Strong Financial and Profitability.

Negatives:

Small Size company with only Rs 300 Crore revenue and Rs 4,000 Crore MarketCap.