Anil Singhvi’s 1st November Strategy: Markets trend positive; Buy Lupin Futures, Sell IOC Futures

Amid negative domestic institutional investors (DIIs), positive foreign institutional investors (FIIs) sentiments, and neutral global markets and futures and options (F&O), the short-term trends in the domestic Indian share markets are going to be positive on Friday i.e. 1st November 2019.

Equity benchmarks on Thursday, October 31, 2019, logged robust gains in the afternoon session but it's gains got shortened after the closing bell. The BSE Sensex hit its all-time high when it peaked at 40,392.22  levels in the intraday trade. However, the afternoon rise at the BSE Sensex got shortened after the short-covering in the F&O expiry today. After the Closing Session Sensex closed at 40,129 levels adding 77 points from its Wednesday closing. Nifty-50 index added 33 points after closing at 11,877 levels. Bank Nifty index went up 78 points and closed at 30,066 levels.

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Here is Anil Sighvi's 1st November Strategy:

Global: Neutral

FII: Positive

DII: Negative

F&O: Neutral

‪Sentiment: Positive

Trend: Positive
Nifty 11850-11900 BankNifty 29650-29750 STRONG Day Support Zone
Nifty 11850-11900 small day range, 11775-11950 medium day range, 11725-12000 Bigger day range
Bank Nifty 29900-30150 small range, 29750-30400 medium day range, 29650-30550 Bigger day range

For Existing Long Positions:
Nifty intraday n closing SL 11775
BankNifty intraday and closing SL 29850

For Existing Short Positions:
Nifty intraday and Closing SL 11950
BankNifty intraday and Closing SL 30200

For New Positions:
Buy Nifty in 11775-11800 range; SL 11750 Tgt 11850, 11875, 11950
Sell Nifty near 11950; SL 12000 Tgt 11900, 11875, 11850
Buy BankNifty near 29700-29750 range; SL 29650 Tgt 29850, 30000, 30150
Sell BankNifty in 30400-30550 range; SL 30800 Tgt 30200, 30050; PCR 1.42 VIX 16.27

Stock of the Day:
Buy Lupin Futures; SL 740 Tgt 760, 770, 775; Lupin to sell its Japan unit for Rs 4200 Cr. 

Aaj Ka Hero:
Sell IOC Futures; SL 147 Tgt 142, 138, Operationally weak results