Anil Singhvi’s Strategy November 9: Day support zone on Nifty is 17,925-18,000 & Bank Nifty is 39,125-39,300

Amid positive global markets, domestic institutional investors (DIIs), sentiment, neutral foreign institutional investors (FIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, November 9, 2021. 

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The domestic equity markets rallied high and ended the day with strong gains on Monday, November 8, 2021. The S&P BSE Sensex surged 477.99 points or 0.80 per cent to 60,545.61. The Nifty 50 index rose 151.75 points or 0.85 per cent to 18,068.55. However, the Nifty Bank fell 135.45 points or 0.34 per cent to 39,438.25.

In the broader markets at the BSE, S&P BSE MidCap closed with a gain of 1.20 per cent and S&P BSE SmallCap rose 0.78 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 9:

Day support zone on Nifty is 17,925-18,000, below that 17,825-17,900 is a strong Buy zone.

Day higher zone on Nifty is 18,100-18,175, above that 18,200-18,265 is a strong Profit booking zone.

Day support zone on Bank Nifty is 39,125-39,300, below that 38,800-38,950 is a strong Buy zone.

Day higher zone on Bank Nifty is 39,675-39,750, above that 39,950-40,100 is a Profit booking zone.

The small day range for trading on Nifty is 18,000-18,125, while the medium and bigger day ranges are 17,925-18,200 and 17,850-18,250, respectively.

The small day range for trading on Bank Nifty is 39,125-39,675, while the medium and bigger day ranges are 38,950-39,750 and 38,800-39,950, respectively.

FIIs Index long increased to 60% Vs 53%.

PCR at 1.12 Vs 1.08.

India VIX up by 4% at 16.34.

For Existing Long Positions:

Nifty Intraday stop loss is 18,000 and Closing stop loss is 17,900.

Bank Nifty Intraday stop loss is 38,900 and Closing stop loss is 39,000.

For Existing Short Positions:

Nifty Intraday stop loss is 18,125 and Closing stop loss is 18,250.

Bank Nifty Intraday and Closing stop loss are 40,000.

For New Positions:

Aggressive Traders Buy Nifty with a Strict stop loss of 17,975 and target 18,100, 18,125, 18,175, 18,200, 18,250.

Buy Nifty in 17850-17925 range with a stop loss of 17,750 and target 18,000, 18,075, 18,100, 18,125.

Sell Nifty in 18,175-18,250 range with a stop loss of 18,350 and target 18,125, 18,075, 18,000, 17,925.

For New Positions:

Buy Bank Nifty in 38,950-39,125 range with a stop loss of 38,800 and target 39,300, 39,400, 39,500, 39,575, 39,675.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 39,100 and target 39,500, 39,575, 39,675, 39,750, 39,850, 39,950.

Sell Bank Nifty in 39,750-39,950 range with a stop loss of 40,150 and target 39,675, 39,575, 39,500, 39,425, 39,300.

F&O Ban Update:

New In Ban: Sun TV

Already In Ban: Escorts, PNB

Out Of Ban: Nil

Sapphire Foods IPO Preview: APPLY FOR LONG TERM

Positives:

Strong Brand like KFC, Pizza Hut

Impressive Track Record

Strong Growth Potential

Profitable at Operational Level

Reasonable Valuations

Negatives:

In August 2021 issued share at 506 Rupees, same Investors selling in IPO

Company yet to come in Profit

Last 3 years serious delays in payment of PF etc liabilities