Anil Singhvi’s Strategy October 30: Markets trend positive; Bank, PSU stocks to remain positive
On account of neutral DIIs, positive FIIs and neutral global cues and F&O, the short-term trends in the Indian share markets are set to be positive, says Market Guru and Zee Business Managing Editor Anil Singhvi.
Amid neutral domestic institutional investors (DIIs), positive foreign institutional investors (FIIs) sentiments, and neutral global markets and futures and options (F&O), the short-term trends in the domestic Indian share markets are going to be positive on Wednesday, October 30, 2019.
Equity benchmarks on Tuesday, October 29, 2019, logged robust gains after the Closing Bell though Asian stocks were mixed. The BSE Sensex gained 581 points or 1.48 per cent to close at 39,831. The NSE Nifty also soared 159 points or 1.37 per cent to settle at 11,786 while Bank Nifty appreciated 356 points or 1.21 per cent to end at 29,876. Auto, Metal and Energy stocks led the bull run on Dalal Street yesterday.
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Here are details of Market Guru Anil Singhvi’s Strategy for October 30:
Nifty 11800 BankNifty 30000 Nirnayak levels
Nifty 11675-11700 and BankNifty 29500-29700 are STRONG Day Support Zone
Nifty 11700-11810 small day range, 11675-11850 medium day range, 11625-11900 Bigger day range
Bank Nifty 29700-30000 small range, 29550-30150 medium day range, 29400-30500 Bigger day range
BankNifty 30500-30800 higher zone
For Existing Long Positions:
Nifty intraday SL 11675 and closing SL 11625
BankNifty intraday SL 29650 n closing SL 29400
For Existing Short Positions:
Nifty intraday and Closing SL 11810
BankNifty intraday and Closing SL 30000
For New Positions:
Buy Nifty, SL 11675 Tgt 11825, 11850, 11900
Buy BankNifty in 29550-29700 range, SL 29400 Tgt 29850, 29950, 30150
Sell BankNifty in 30500-30650 range, SL 30800 Tgt 30200, 30050
PCR 1.48 VIX 16.42
Positive: Banks, PSU
Stock of the Day:
Buy BHEL Futures; SL 53 Tgt 55, 56; PSU Stocks in focus, CLSA raised the target to 67
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