Anil Singhvi’s Strategy October 19: Day support range on Nifty is 11,675-11,725 & Bank Nifty is 23,150-23,200
Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, October 19, 2020
Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, October 19, 2020.
The equity benchmarks rebounded after a one-day halt, on Friday, October 16, 2020, which snapped the winning rally of ten sessions in a row. The key indices added more than half a per cent amid mixed global cues and Nifty reclaimed the 11,750-level.
The S&P BSE Sensex advanced 254.57 points or 0.64 per cent at 39,982.98. The Nifty 50 index gained 82.10 points or 0.7 per cent at 11,762.45. The Nifty Bank grew 460.85 points or 2 per cent and settled at 23,533.25. These indices crashed around 2.50 per cent on Thursday.
The broader market at BSE also climbed, outperforming the Sensex. The BSE Mid-Cap index surged 1.05 per cent and the BSE Small-Cap index rose 0.97 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 19:
Day support range on Nifty is 11,675-11,725 and the day higher range is 11,875-11,925.
Day support range on Bank Nifty is 23,150-23,200, the day higher range is 23,700-23,850, above that 24,075-24,175 is profit booking zone.
The small day range on Nifty is 11,775-11,825, while the medium and bigger day ranges are 11,725-11,875 and 11,675-11,925, respectively.
The small day range on Bank Nifty is 23,500-23,700, while the medium and bigger day ranges are 23,425-23,850 and 23,175-24,075, respectively.
FIIs Net Index long at 66% Vs 65%
Put-Call Ratio (PCR) 1.31 Vs 1.37, India Volatility Index (VIX) 2% down at 21.65.
For Existing Long Positions:
Nifty intraday and closing stop loss are 11,650.
Bank Nifty intraday stop loss is 23,400 and closing stop loss is 23,150.
For Existing Short Positions:
Nifty intraday stop loss is 11,800 and closing stop loss is 11,850.
Bank Nifty intraday stop loss is 23,725 and closing stop loss 23,900.
For New Positions:
Buy Nifty with a stop loss of 11,675 and target 11,825, 11,875, 11,925.
Sell Nifty in 11,875-11,925 range with a stop loss of 12,025 and target 11,825, 11,800, 11,775.
For New Positions:
Buy Bank Nifty with a stop loss of 23,400 and target 23,700, 23,850, 23,950, 24,050, 24,175.
Sell Bank Nifty in 23,950-24,050 range with a stop loss of 24,200 and target 23,850, 23,750, 23,550.
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Enters F&O Ban: Tata Motors
Out of Ban: Mindtree
10 Already in Ban: Idea, BHEL, Adani Enterprises, JSPL, Canara Bank, SAIL, Escorts, IB Housing, PNB, PVR
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