Amid neutral global markets, foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, November 16, 2021. 

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Domestic equity benchmarks ended near the flat line, with some positive bias on Monday, November 15, 2021. The Sensex closed above 60,700 and the Nifty ended above 18,100 level.

The S&P BSE Sensex rose 32.02 points or 0.05 per cent to 60,718.71. The Nifty 50 index gained 6.70 points or 0.04 per cent at 18,109.45. However, the Bank Nifty index fell 31 points or 0.08 per cent to close at 38,702.35.

In the broader markets, S&P BSE MidCap added 0.41 per cent and S&P BSE SmallCap fell 0.19 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 16:

Day support zone on Nifty is 17,975-18,025, below that 17,875-17,925 is a strong Buy zone.

Day higher zone on Nifty is 18,175-18,200, above that 18,265-18,300 is a strong Profit booking zone.

 

Day support zone on Bank Nifty is 38,350-38,475, below that 38,000-38,150 is a strong support zone.

Day higher zone on Bank Nifty is 38,925-39,125, above that 39,225-39,375 is a strong Sell zone.

 

The small day range for trading on Nifty is 18,025-18,200, while the medium and bigger day ranges are 17,975-18,265 and 17,925-18,300, respectively.

The small day range for trading on Bank Nifty is 38,575-38,925, while the medium and bigger day ranges are 38,475-39,025 and 38,350-39,125, respectively.

 

FIIs Index long increased to 56% Vs 57%.

PCR light and comfortable at 0.99 Vs 1.15.

India VIX up by 2% at 15.47.

 

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,975.

Bank Nifty Intraday stop loss is 38,350 and Closing stop loss is 38,500.

 

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,225.

Bank Nifty Intraday and Closing stop loss are 39,050.

 

For New Positions:

Buy Nifty with a stop loss of 17,975 and target 18,175, 18,200, 18,265, 18,300.

Sell Nifty in 18,200-18,300 range with a stop loss of 18,375 and target 18,125, 18,100, 18,075, 18,025.

 

For New Positions:

Buy Bank Nifty in 38,350-38,475 range with a stop loss of 38,300 and target 38,550, 38,600, 38,700, 38,825, 38,875, 38,925.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 38,500 and target 38,825, 38,875, 38,925, 39,025, 39,125, 39,225.

Sell Bank Nifty in 38,925-39,225 range with a stop loss of 39,375 and target 38,825, 38,700, 38,600, 38,550, 38,475.

 

F&O Ban Update:

New In Ban: IRCTC

8 Already In Ban: NALCO, Bank of Baroda, BHEL, SAIL, Indiabulls Housing, Sun TV, Escorts, PNB

Out Of Ban: Nil

 

Stock Of The Day:

Buy VA Tech Wabag: Stop loss 325 and target 338, 344, 348. Strong Results, Nomura raised Target from 546 to 581.