Anil Singhvi’s Strategy November 14: Telecom & Pharma sector is Negative; Sell Bharti Airtel Futures with Stop Loss 375

Amid neutral global markets, foreign institutional investors (FIIs), futures & options (F&O) and negative domestic institutional investor (DII) cues, the short-term trend of Indian share market will continue to be positive on Thursday, November 14, 2019, while sentiment will be cautious.

Earlier, the benchmark indices ended with significant losses on Wednesday, November 13, 2019. Sensex at Bombay stock exchange declined 229.02 points or 0.57% to end at 40,116.06. Nifty at National Stock Exchange also fell 73 points or 0.61% to 11,840.45 while Bank Nifty was down by 574 points or 1.84% at 30,541.55. The sentiment was affected due to weak domestic economic data and weak global cues.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 14:

11,850 and 30,500 are going to be the deciding levels on Nifty and Bank Nifty respectively.

Small and medium day range for trading on Nifty lies between 11,825-11,900 and 11,800-1,1925 respectively. The bigger range stands at 11,750-11,975.

Small and medium day range for trading on Bank Nifty lies between 30,450-30,650 and 30,350-30,750 respectively. The bigger range stands at 30,050-31,100.

For Existing Long Positions:

Nifty intraday and closing stop loss 11,800.

Bank Nifty intraday stop loss 30,500 and closing stop loss 30,300.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 30,750.

For New Positions:

Buy Nifty in 11,800-11,850 range with a stop loss of 11,750 and target 11,875, 11,900, 11,950.

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Sell Nifty in 11,900-11,1950 range with a stop loss of 12,000 and target 11,850, 11,825.

Buy Bank Nifty in 30,225-30,350 range with a stop loss of 30,050 and target 30,450, 30,600, 30,700.

Sell Bank Nifty in 31,000- 31,200 range with a stop loss of 31,250 and target 30,750, 30,650, 30,550.

Sectors:

Negative: Telecom, Pharma

The put-call ratio (PCR) is 1.09 and the volatility index (VIX) is 16.46.

Result Review:

Sell Pidilite Futures: Stop loss 1335 and target 1300, 1285, 1270. Negative volume growth. Operationally Weak Results.

Sell Adani Power Futures: Stop loss 64 and target 61.5, 60, 58. Poor results on all parameters.

Stock of the Day:

Sell Bharti Airtel Futures: Stop loss 375 and target 360, 355, 345. DOT asks telecom companies to pay AGR dues in 3 months