Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,300-23,400 levels and a strong buy zone at 23,000-23,200 levels on Monday, November 18, when the market is set to resume trading after a long weekend owing to the Guru Nanak Jayanti holiday on November 15. 

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For the Nifty Bank, he expects support at 49,750-49,900 levels and a stronger support zone at 49,425-49,650 levels.

Here's how the market guru sums up the trade setup this morning: 

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Negative
  • Trend: Negative
  • FII long positions at 23 per cent vs 22 per cent before the last session
  • Nifty put-call ratio (PCR) at 0.88 vs 0.70
  • Nifty Bank PCR at 0.95 vs 1.12
  • Volatility index India VIX down 4 per cent at 14.78

The market wizard sees a higher zone for the headline index at 23,575-23,675 levels and a strong sell zone at 23,750-23,875 levels.

For the banking index, he sees a higher zone at 50,575-50,800 levels and a strong sell zone at 51,000-51,175 levels.

MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 23,450
  • Nifty Bank intraday and closing stop loss at 49,900

For existing short positions:

  • Nifty intraday and closing stop loss at 23,700
  • Nifty Bank intraday and closing stop loss at 50,600

For new positions in Nifty50:

  • The best range to sell Nifty is 23,675-23,775 with a  stop loss at 23,900 for targets of 23,625, 23,550, 23,500, 23,400, 23,350 and 23,300
  • Aggressive traders buy Nifty in the 23,100-23,300 range with a strict stop loss at 22,900 for targets of 23,475, 23,500, 23,550, 23,600, 23,675 and 23,750

For new positions in Nifty Bank:

  • Aggressive traders can sell Nifty Bank in the 50,800-51,000 range with a strict stop loss at 51,200 for targets of 50,575, 50,375, 50,200, 50,100, 50,000, 49,950 and 49,750
  • Aggressive traders can buy Nifty Bank in the 49,650-49,750 range with a strict stop loss at 49,500 for targets of 49,900, 50,000, 50,075, 50,175, 50,375 and 50,550

Stocks in F&O ban​

  • Out of ban: Aarti Industries
  • Already in ban: GNFC, Hindustan Copper, AB Fashion, Granules India
  • New in ban: None

Result Reviews

Hero MotoCorp

  • Revenue and profit better than estimates
  • Operational performance in line with expectations 
  • The stock has fallen 16 per cent in one month
  • If the stock makes a weak start to the day, buy futures for targets of Rs 4,700 and Rs 4,750 with a stop loss at Rs 4,550 

Grasim 

  • Results below estimates
  • Operational performance weak
  • Sell Grasim futures with a stop loss at Rs 2,590 for targets of Rs 2,500, Rs 2,470 and Rs 2,445

Glenmark Pharma 

  • Results slightly better than estimates
  • The stock has fallen 15 per cent in one month
  • IF the stock opens lower, buy futures for targets of Rs 1,555, Rs 1,570 and Rs 1,600 with a stop loss at Rs 1,520 

Muthoot Finance 

  • Results slightly above estimates
  • Highest-ever loan AUM
  • NIM impressive at 11.54 per cent 
  • Buy Muthoot Finance futures for targets of Rs 1,795, Rs 1,820 and Rs 1,850 with a stop loss at Rs 1,750 

Stocks of the Day

Sell MGL futures with a stop loss at Rs 1,345 for targets of Rs 1,260, Rs 1,230, Rs 1,210 and Rs 1,180

  • Gas allocation reduced by 18 per cent 

Sell IGL futures with a stop loss at Rs 414 for targets of Rs 385, Rs 372 and Rs 355

  • Gas allocation reduced by 20 per cent 

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