Anil Singhvi’s Strategy September 17: Day support zone on Nifty is 11,450-11,525 & Bank Nifty is 22,100-22,225
Anil Singhvi’s Strategy September 17: Amid neutral global markets, FIIs, DIIs and F&O, the short-term trend of the Indian stock markets will be positive today.
Anil Singhvi’s Strategy September 17: Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O), sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, September 17, 2020.
The domestic stock markets closed with strong gains for the second day in a row on Wednesday, September 16, 2020. The 30-share BSE Sensex jumped 259 points or 0.66 per cent to close at 39,303. The broader NSE Nifty rose 83 points or 0.72 per cent to finish at 11,605. Similarly, Bank Nifty gained 107.90 points, or 0.48 per cent, to settle at 22,574.
The broader market at BSE underperformed the Sensex. The Mid-cap added 0.21 per cent and Small-cap gained 0.44 per cent.
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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 17:
Day support zone on Nifty is 11,450-11,525 and day higher range is 11,650-11,750.
Day support zone on Bank Nifty is 22,100-22,225 and day higher range is 22,850-23,050.
The small day range for trading on Nifty is 11,525-11,650, while the medium and bigger ranges are 11,500-11,700 and 11,450-11,750, respectively.
The small day range for trading on Bank Nifty is 22,450-22,750, while the medium and bigger ranges are 22,225-22,850 and 22,075-22,950, respectively.
FIIs net index long at 50% Vs 52%, PCR 1.61 Vs 1.47, VIX down 5% to 19.66
For Existing Long Positions:
Nifty intraday stop loss is 11,500 and closing stop loss is 11,440.
Bank Nifty intraday stop loss is 22,400 and closing stop loss is 22,100.
For Existing Short Positions:
Nifty intraday and closing stop loss are 11,650.
Bank Nifty intraday and closing stop loss are 22,700.
For New Positions:
Buy Nifty with a stop loss of 11,500 and target 11,650, 11,700, 11,750.
Sell Nifty in 11,700-11,800 range with a stop loss of 11,850 and target 11,650, 11,600, 11,575.
Buy Bank Nifty in 22,075-22,275 range with a stop loss of 22,000 and target 22,450, 22,550, 22,650, 22,750, 22,850.
Aggressive traders can buy in 22,450-22,475 range with a strict stop loss of 22,400.
Sell Bank Nifty in 22,850-23,000 range with a stop loss 23,100 and target 22,750, 22,650, 22,550.
11 Stocks In F&O Ban:
Enter in Ban: Auro Pharma
10 Already in Ban: Bank of Baroda, IB Housing, BHEL, JSPL, Adani Enterprises, Canara Bank, Vedanta, Escorts, Vodafone Idea, Tata Chemicals.
Happiest Mind Listing: Strong Listing Expected in 300-350 range. Short Term investors can keep a stop loss 250.
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