Anil Singhvi’s Strategy November 29: NBFC, PSU & Private Banks are Positive; Buy IB Housing Futures with Stop Loss 330
On account of positive FII, neutral global market, DII and F&O, the short-term trend of Indian share market will be positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive foreign institutional investor (FII) and sentiment and neutral global market, domestic institutional investor (DII) and futures & options (F&O) cues, the short-term trend of Indian share market will be positive on Friday, November 29, 2019.
The domestic stocks market ended on a firm note on Thursday, November 28, 2019. The gains were supported by a rally in state and privately held banks and metal stocks. Indices witnessed significant volatility on account of monthly F&O expiry. On the day, the Sensex at the Bombay Stock Exchange rose 109.56 points, or 0.27 per cent, to end at a fresh all-time high of 41,130.17. The Nifty at the National Stock exchange advanced 50.45 points, or 0,42 per cent, to close at a record high of 12,151.15, while Bank Nifty rose to 32,122.95 after gaining 247 points. or 0.77 per cent.
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— Zee Business (@ZeeBusiness) November 29, 2019
Besides, Reliance Industries (RIL) became the first Indian company to settle above the Rs 10 lakh crore market capitalisation.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 29:
Day Buy zone on Nifty 12,000-12,035 and on Bank Nifty 31,750-31,900.
Small day range for trading on Nifty 12,100-12,175, while the medium and bigger ranges lie between 12,075-12,200 and 12,035-12,250 respectively.
Small day range for trading on Bank Nifty 31,900-32,350 and medium-range stand at 31,750-32,450 respectively.
Put Call Ratio (PCR) at 1.77. Be alert at higher levels. Some cool off expected.
For Existing Long Positions:
Nifty intraday and closing stop loss 12,025.
Bank Nifty intraday and closing stop loss 31,700.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,200.
Bank Nifty intraday and closing stop loss 32,200.
For New Positions:
Buy Nifty in 12,075-12,100 range with a stop loss of 12,025 and target 12,125, 12,150, 12,200.
Sell Nifty in 12,175-12,200 range with a stop loss of 12,250 and target 12,125, 12,100, 12,075.
Buy Bank Nifty in 31,750-31,900 range with a stop loss of 31,700 and target 32,100, 32,200, 32,350.
Sell Bank Nifty only for aggressive traders with a strict stop loss of 32,200 and target 32000, 31900, 31750.
Positive: NBFC, PSU and Private Banks
Out of F&O Ban: Yes Bank
Stock of the Day:
Buy Indiabulls Housing Futures: Stop loss 330 and target 345, 355, 365. CLSA upgrades target 450.