Anil Singhvi’s Strategy August 14: Day support zone on Nifty is 11,200-11,240 & Bank Nifty is 22,000-22,075
Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, August 14, 2020
Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, August 14, 2020.
Benchmark domestic stocks on Thursday, August 13, 2020, closed with marginal losses amid mixed global cues. The Sensex at Bombay Stock Exchange fell 59 points, or 0.15 per cent, to close at 38,310. Nifty at National Stock Exchange slipped eight points, or 0.07 per cent to settle at 11,301. Similarly, Bank Nifty fell 68 points, or 0.3 per cent, to close at 22,196.
In the broader market at BSE, the Mid-cap gained 1.6 per cent and Small-cap rose 0.8 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 14:
Day support zone on Nifty is 11,200-11,240, below that 11,100-11,150 is strong buy zone.
Day higher range on Nifty is 11,360-11,400, above that 11,450-11.475 is profit booking zone.
Day support zone on Bank Nifty is 22,000-22,075, below that 21,800-21,900 strong buy zone.
Day higher range on Bank Nifty is 22,325-22,425, above that 22,500-22,650 profit booking zone.
Small Day Range on Nifty is 11,270-11,320, while the medium and bigger ranges are 11,240-11,360 and 11,200-11,400, respectively.
Small Day Range on Bank Nifty is 22,075-22,325, while the medium and bigger ranges are 22,000-22,425 and 21,900-22,500, respectively.
Put-Call Ratio (PCR) is 1.56; India Volatility Index (VIX) is 1% down at 20.57.
For Existing Long Positions:
Nifty intraday and closing stop loss are 11,200.
Bank Nifty intraday stop loss is 22,000 and closing stop loss is 21,900.
For Existing Short Positions:
Nifty intraday and closing stop loss are 11,400.
Bank Nifty intraday and closing stop loss are 22,325.
For New Positions:
Buy Nifty in 11,200-11,240 range with a stop loss of 11,150 and target 11,300, 11,320, 11,350, 11,375.
Sell Nifty in 11,360-11,400 range with a stop loss of 11,450 and target 11,325, 11,300, 11,275, 11,250.
Buy Bank Nifty in 21,900-22,075 range with a stop loss of 21,750 and target 22,225, 22,325, 22,425, 22,500.
Sell Bank Nifty in 22,425-22,500 range with a stop loss of 22,575 and target 22,350, 22,250, 22,100.
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