Anil Singhvi’s Strategy July 30: Amid positive global markets, sentiment, neutral futures & options (F&O), negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Thursday, July 30, 2020.

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Benchmark domestic stocks Wednesday, July 29, 2020, lost around one per cent amid mixed global cues. The Sensex at Bombay Stock Exchange declined 422 points, or 1.1 per cent to close at 38,071. Similarly, Nifty at National Stock Exchange fell 98 points, or 0.86 per cent, to settle at 11,203. Bank Nifty fell 28.60 points, or 0.13 per cent, to 22.077. 

In the broader market at BSE, the Mid-cap and Small-cap outperformed the Sensex. Mid-cap closed 0.68 per cent down and Small-cap slipped 0.43 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 30: 

Day support zone on Nifty is 11,050-11,150 and the day higher range is 11,300-11,350.

Day support zone on Bank Nifty is 21,800-21,900, below that 21,500-21,600 is strong buy zone. 

Day higher range on Bank Nifty is 22,300-22,500, above that 22,600-22,800 is profit-booking range.

The small day range on Nifty is 11,150-11,235, while the medium and bigger ranges are 11,100-11,300 and 11,050-11,335, respectively. 

The small day range on Bank Nifty is 21,900-22,225, while the medium and bigger ranges are 21,800-22,350 and 21,600-22,500, respectively.

Put-Call Ratio (PCR) is 1.41, India Volatility Index (VIX) 2% up at 24.11.

For Existing Long Positions:

Nifty intraday stop loss is 11,075 and closing stop loss is 11,125.

Bank Nifty intraday and closing stop loss are 21,850.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,350.

Bank Nifty intraday and closing stop loss are 22,350.

For New Positions:

Buy Nifty with a stop loss of 11,075 and target 11,235, 11,300, 11,335. 

Sell Nifty in 11,300-11,350 range with a stop loss of 11,400 and target 11,250, 11,200, 11,150. 

Buy Bank Nifty with a stop loss of 21,850 and target 22,225, 22,325, 22,400, 22,500. 

Sell Bank Nifty in 22,400-22,500 range with a stop loss of 22,650 and target 22,325, 22,225, 22,100.

Only Vodafone Idea in F&O Ban

3 stock Out Of Ban: IB Housing, Canara Bank, Indusind Bank

Result Analysis:

Bharti Airtel Futures: 550 strong support; 590-600 higher range. Strong operational performance.