Anil Singhvi’s Strategy November 18: Day support zone on Nifty is 17,800-17,825 & Bank Nifty is 37,750-37,825

Amid negative global markets, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and positive future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, November 18, 2021. 

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Domestic equity barometers ended near the day's low on Wednesday, November 17, 2021, as significant selling in the last hour of trade pushed the benchmarks lower. The S&P BSE Sensex lost 314.04 points or 0.52 per cent to 60,008.33. The Nifty 50 index fell 100.55 points or 0.56 per cent to 17,898.65. The Sensex closed near 60,000 and the Nifty ended below 17,900 level.

The Nifty Bank index dropped 265.55 points or 0.69 per cent to 38,041.55. In the broader market at the BSE, the S&P BSE MidCap fell 0.21 per cent and S&P BSE SmallCap gained 0.05 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 18:

Day support zone on Nifty is 17,800-17,825, below that 17,675-17,750 is a strong Buy zone.

Day higher zone on Nifty is 17,950-18,000, above that 18,025-18,100 is a strong Sell zone.

Day support zone on Bank Nifty is 37,750-37,825, below that 37,525-37,675 is a strong support zone.

Day higher zone on Bank Nifty is 38,300-38,450, above that 38,550-38,725 is a strong Sell zone.

The small day range for trading on Nifty is 17,825-18,000, while the medium and bigger day ranges are 17,750-18,025 and 17,675-18,100, respectively.

The small day range for trading on Bank Nifty is 37,750-38,300, while the medium and bigger day ranges are 37,675-38,450 and 37,550-38,550, respectively.

FIIs Index long increased to 55% Vs 54%.

PCR oversold, at 0.81 short covering expected from a lower level.

India VIX up by down 1.50% at 14.98.

For Existing Long Positions:

Nifty Intraday stop loss is 17,775 and Closing stop loss is 17,875.

Bank Nifty Intraday and Closing stop loss are 37,900.

For Existing Short Positions:

Nifty Intraday stop loss is 18,025 and Closing stop loss is 18,125.

Bank Nifty Intraday and Closing stop loss are 38,550.

For New Positions:

Buy Nifty in 17,750-17,825 range with a stop loss of 17,675 and target 17,875, 17,900, 17,950, 18,000.

Aggressive trade buy Nifty if open up gap down with a Strict stop loss of 17,775 and target 17,950, 18,000, 18,025, 18,075, 18,100.

Sell Nifty in 18,000-18,100 range with a stop loss of 18,150 and target 17,950, 17,900, 17,875, 17,825, 17,800.

Aggressive traders sell Nifty with a Strict stop loss of 18,050 and target 17,825, 17,800, 17,750, 17,675.

For New Positions:

Sell Bank Nifty in 38,450-38,600 range with a stop loss of 38,750 and target 38,300, 38,200, 38,050, 37,975.

Buy Bank Nifty in 37,575-37,750 range with a stop loss of 37,450 and target 37,750, 37,825, 37,975, 38,050, 38,200.

Aggressive traders buy Bank Nifty with a Strict Stop Loss of 37,900 and target 38,200, 38,300, 38,450, 38,550, 38,600.

F&O Ban Update:

ALREADY IN BAN: NALCO, IRCTC, BHEL, SUNTV, SAIL, Indiabulls Housing Finance

OUT OF BAN: PNB

NEW IN BAN: NONE

Paytm Listing Preview: Expected to list in below issue price of 2150. Long Term Investors can BUY if fall 8-15%.

Sapphire Foods India Listing Preview: Expected to list around 1275-1325 range. Long Term Investors can HOLD trades keep a stop loss of IPO price 1180.