Amid neutral global markets, foreign institutional investors (FIIs), futures & options (F&O), domestic institutional investor (DII) and cautious sentiment cues, the short-term trend of Indian share market will be positive on Wednesday, November 13, 2019.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

After a choppy session on Monday, November 11, 2019, the domestic indices, Nifty and Sensex, managed to close in the green. Banking stocks saved the day for the indices which were otherwise battered by weak global sentiment. The 30-share Sensex ended 21.47 points or 0.05% higher at 40,345.08. Similarly, Nifty 50 closed with a gain of mere 5.30 points or 0.04% at 11,913.45 while Bank Nifty was up by 366.15 points or 1.27% and settled at 31,115.55.

Zee Entertainment Enterprises Limited was the top gainer in the Nifty 50 pack rising 6.16%, followed by Yes Bank, BPCL, GAIL, Tata Motors, ICICI Bank and IndusInd Bank. On the other hand, Nestle India, Hero MotoCorp and Hindalco, fell up to two per cent.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 13:

11,900 and 31,000 are going to be the deciding levels on Nifty and Bank Nifty.

 Strong support zone on Nifty is 11,800-11,850 and on the Bank Nifty is 30,600-30,750.

The small and medium day range for trading on Nifty lies between 11,875-11,950 and 11,850-12,000 respectively while the bigger range stands at 11,800-12,050. 

Watch Zee Business Live TV below

The small and medium day range for trading on Bank Nifty lies between 31,000-31,200 and 30,750-31,350 respectively while the bigger range stands at 30,600-31,500.

For Existing Long Positions:

Nifty intraday closing stop loss 11,850.

Bank Nifty intraday stop loss 31,000 and closing stop loss 30,600.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,035.

Bank Nifty intraday and closing stop loss 31,250.

For New Positions:

Buy Nifty in 11,800-11,850 range with a stop loss of 11,775 and target 11,900, 11,925, 11,975.

Sell Nifty in 11,975-12,000 range with a stop loss of 12,035 and target 11,925, 11,900, 11,875.

Buy Bank Nifty in 30,650-30,800 range with a stop loss of 30,500 and target 31,000, 31,100, 31,200.

Sell Bank Nifty with a stop loss of 31,250 and target 31,000, 30,800, 30,650.

The put-call ratio (PCR) is 1.28 and the volatility index (VIX) is 16.25.

Stock of the Day:

Sell Adani Port Futures: Stop loss 392 and target 378, 383. Operationally weak results.