Anil Singhvi’s Strategy November 18: Market Trend & Sentiment are Positive; Buy BPCL Futures with Stop Loss of 500

Amid positive global markets, domestic institutional investor (DII) and sentiment, neutral futures & options (F&O) and negative foreign institutional investor (FII) cues, the short-term trend of the Indian share market will continue to be positive on Monday, November 18, 2019.

Earlier on Friday, November 15, 2019, the domestic stock markets closed in a positive note with a slight gain. On the day, Sensex at the Bombay Stock Exchange rose 70.21 points, or 0.17 per cent, to end at 40,356.79. The Nifty at the National Stock exchange added 23.35 points, or 0.20 per cent, to 11,895.45 while Bank Nifty gained 258.45 points, or 0.87 per cent, and closed at 31,008.40.

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The gains were led by Bharti Infratel (up 9.71 per cent), Bharti Airtel (up 9.24 per cent), State Bank of India (up 5.54 per cent), Zee Entertainment Enterprises Limited (up 3.90 per cent) and Grasim Industries (up 3.05 per cent).

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 15:

Small day range for trading on Nifty stands at 11,850-11,950 while the medium and bigger ranges lie between 11,825-11,975 and 11,800-12,000.

Small day range for trading on Bank Nifty stands at 30,850-31,100 while the medium and bigger ranges lie between 30,750-31,200 and 30,600-31,450. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,800.

Bank Nifty intraday and closing stop loss 30,750. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 31,200. 

For New Positions:

Buy Nifty with a stop loss of 11,800 and target 11,950, 11,975, 12,000.

Sell Nifty in 11,975-12,000 range with a stop loss of 12,035 and target 11,950, 11,925, 11,900.

Buy Bank Nifty with a stop loss of 30,850 and target 31,100, 31,200, 31,350.

Sell Bank Nifty at 31,200 with a stop loss of 31,250 and target 31100, 30850, 30750. Only for high-risk traders with strict Stop Loss.

The put-call ratio (PCR) is 1.39 and the volatility index (VIX) is 15.03.

Stock of the Day:

Buy BPCL Futures: Stop loss 500 and target 518, 525. Government to divest BPCL before March 2020.

Buy Wockhardt Cash: Stop loss 267 and target 280, 285. Company may sell its plants to reduce debt.