Anil Singhvi’s Strategy November 11: Day support zone on Nifty is 17,850-17,925 & Bank Nifty is 38,775-38,875

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 Thursday, November 11, 2021. 

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Benchmark indices closed the volatile trading session with tiny losses on Wednesday, November 10, 2021. The S&P BSE Sensex fell 80.63 points, or 0.13 per cent, to 60,352.82. The Nifty 50 index dropped 27.05 points, or 0.15 per cent, to 18,017.20. The Bank Nifty lost 345.55 points, or 0.88 per cent, to 39,023.25.

In the broader market, the BSE Midcap index fell 0.50 per cent and the Smallcap index ended marginally lower.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 11:

Day support zone on Nifty is 17,850-17,925, below that 17,750-17,800 is a strong Buy zone.

Day higher zone on Nifty is 18,050-18,100, above that 18,125-18,200 is a strong Profit booking zone.

Day support zone on Bank Nifty is 38,775-38,875, below that 38,425-38,525 is a strong Buy zone.

Day higher zone on Bank Nifty is 39,225-39,300, above that 39,450-39,575 is a Profit booking zone.

The small day range for trading on Nifty is 17,900-18,050, while the medium and bigger day ranges are 17,850-18,100 and 17,750-18,175, respectively.

The small day range for trading on Bank Nifty is 38,875-39,225, while the medium and bigger day ranges are 38,525-39,450 and 38,425-39,575, respectively.

FIIs Index long decreased to 49% Vs 51%.

PCR light and comfortable at 0.94 Vs 0.96.

India VIX is up by 2% at 16.31.

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 38,850.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,125.

Bank Nifty Intraday stop loss is 39,300 and Closing stop loss is 39,500.

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 17,825-17,925 range with a stop loss 

of 17,750 and target 17,975, 18,015, 18,050, 18,075, 18,100.

For New Positions:

Sell Bank Nifty with a stop loss of 39,300 and target 38,950, 38,875, 38,775, 38,675, 38,525, 38,425.

Buy Bank Nifty in 38,425-38,525 range with a stop loss of 38,350 and target 38,675, 38,775, 38,875, 38,925, 39,000.

Aggressive Traders Buy Bank Nifty in 38,775-38,925 range with a Strict stop loss of 38,675 and target 39,000, 39,125, 39,225, 39,300, 39,400, 39,500.

F&O Ban Update:

New In Ban: Bank of Baroda, BHEL, SAIL, Indiabulls Housing

Already In Ban: Sun TV, Escorts, PNB

Out Of Ban: Nil