Anil Singhvi’s Strategy November 6: Market Trend is Positive, Buy Tech Mahindra for Rs 790 target; Sell Titan Futures

The benchmark index Sensex on Wednesday opened weaker at 40,311.85 points amidst neutral domestic institutional investors (DIIs), positive sentiment and global markets, neutral futures and options (F&O) and positive foreign institutional investors (FIIs) cues. This suggests the short-term trend of Indian share markets will be positive on Wednesday, November 6, 2019. Nifty was trading at 11,887.90 points on Wednesday morning.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 6:

Global: Positive
FII: Neutral
DII: Negative
F&O: Neutral
Sentiment: Positive
Trend: Positive

Strong Day Support Zone

- Nifty 11800-11850
- BankNifty 29900-30000

Profit Booking Zone:

- Nifty 11975-12000
- BankNifty 30425-30600

Small day range: Nifty 11840-11940
Medium day range: Nifty 11825-11975
Bigger day range: Nifty 11800-12000

Small day range: Bank Nifty 30075-30325
Medium day range: Bank Nifty 30,000-30425
Bigger day range: Bank Nifty 29,900-30550

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For Existing Long Positions:

- Nifty intraday closing SL 11840
- BankNifty intraday n closing SL 30000

For Existing Short Positions:

- Nifty intraday n Closing SL 12000
- BankNifty intraday n Closing SL 30600

For New Positions:

Buy Nifty in 11825-11875 range: SL 11800 Tgt 11900, 11950, 11975
Sell Nifty 10 11940-11980 range: SL 12025 Tgt 11900, 11875, 11850
Buy BankNifty in 29900-30050 range: SL 29850 Tgt 30200, 30325, 30400
Sell BankNifty in 30400-30550 range: SL 30600 Tgt 30325, 30225, 30075

PCR 1.34 VIX 15.92

Stock of the Day:

Sell Titan Futures
SL 1300 Tgt 1255, 1235, 1220
Operationally Weak Results, Guidance lower for jewellery sales

Aaj Ka Hero:

Buy Tech Mahindra Future
SL 768 Tgt 790, 800
Strong operational performance