Anil Singhvi’s Strategy July 13: Day support zone on Nifty is 10,675-10,725 and Bank Nifty is 22,000-22,200; Apply for medium-term investment in Rossari Biotech IPO
Amid positive global markets, negative foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, July 13, 2020
Amid positive global markets, negative foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, July 13, 2020.
Benchmark domestic stocks fell around 0.4 per cent Friday, July 10, 2020, amid weak Asian market cues. The losses in the banks and financial stocks have dragged the indices down. Strength in index pivotals, Reliance Industries and TCS, supported the indices. Sensex at Bombay Stock Exchange closed 143 points, or 0.39 per cent, down at 36,594. Similarly, the Nifty at National Stock Exchange slipped 45 points, or 0.42 per cent, to settle at 10,768. Bank Nifty lost 509 points, or 2.22 per cent, to close at 22,398.
Broader indices at BSE also declined. The Mid-cap lost 0.72 per cent and the Small-cap logged a loss of 0.35 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 13:
Day support zone on Nifty is 10,675-10,725 and the day higher range is 10,800-10,850, above that 10,900-10,975 is Profit-Booking zone.
Day support zone on Bank Nifty is 22,000-22,200, and the day higher range is 22,675-22,875, above that 23,000-23,100 is Profit-Booking zone.
The small day range for trading on Nifty is 10,725-10,800, while the medium and bigger ranges are 10,700-10,850 and 10,675-10,900 respectively.
The small day range for trading on Bank Nifty is 22,300-22,600, while the medium and bigger ranges are 22,200-22,675 and 22,000-22,875 respectively.
Put-Call Ratio (PCR) is 1.47, India Volatility Index (VIX) at 24.94.
For Existing Long Positions:
Nifty intraday and closing stop loss are 10,675.
Bank Nifty intraday and closing stop loss are 22,200.
For Existing Short Positions:
Nifty intraday and closing stop loss are 10,850.
Bank Nifty intraday and closing stop loss are 22,700.
For New Positions:
Buy Nifty with a stop loss of 10,675, and target 10,800, 10,835, 10,875, 10,900.
Sell Nifty in 10,900-10,975 range with a stop loss of 11,025 and target 10,850, 10,800, 10,775.
Buy Bank Nifty with a stop loss of 22,200, and target 22,600, 22,675, 22,850, 22,900.
Sell Bank Nifty in 22,850-23,050 range with a stop loss of 23,100 and target 22,700, 22,625, 22,525.
6 Stocks In F&O Ban:
New Entry: Century Textiles, Vodafone Idea, PNB, Equitas
Already in Ban: Glenmark, BHEL
Out of Ban: IB Housing Finance, SAIL
Rossari Biotech IPO: Apply for medium-term investment and small listing gains.
See Zee Business Live TV Streaming Below:
Yes Bank FPO: New investors and Apply in OFS. Existing shareholders can sell their delivery and apply for OFS.
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