Anil Singhvi’s Strategy September 3: Amid positive global markets, neutral foreign institutional investors (FIIs), futures & options (F&O), negative domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, September 3, 2020.

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Indian indices closed in the green on Wednesday, September 2, 2020. Sensex closed up by 185 points, or 0.48%, at 39,086, while Nifty gained 65 points, or 0.56%, to settle at 1,535. Similarly, Bank Nifty rose 63 points, or 0.26%, to close at 23,875.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 3: 

Reduce your long positions of trading only if Nifty & Bank Nifty closes below 11,375 & 23,000, respectively.

The trend again bullish if Nifty and Bank Nifty closes above 11,650 & 24,500, respectively.

Investors need not worry shift from mid & small caps to large-cap stocks.

FIIs net index long 60% Vs 64%, Put-Call Ratio (PCR) 1.36, India Volatility Index (VIX) down 3% to 21.11.

Day support zone on Nifty is 11,350-11,425 and the day higher range is 11,650-11,775.

Day support zone on Bank Nifty is 23,400-23,600 and the strong support zone is 23,000-23,100.

Day higher range on Bank Nifty is 24,000-24,200, above that 24,500-24,600 is profit booking zone.

The Small Day Range for trading on Nifty is 11,475-11,600, while the medium and bigger day ranges are 11,425-11,650 and 11,375-11,775, respectively.

The Small Day Range for trading on Bank Nifty is 23,600-24,000, while the medium and bigger day ranges are 23,400-24,200 and 23,100-24,500, respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,350.

Bank Nifty intraday and closing stop loss are 23,350.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,650.

Bank Nifty intraday and closing stop loss are 24,200.

For New Positions:

Buy Nifty with a stop loss of 11,425 and target 11,600, 11,650, 11,700, 11,775.

Sell Nifty in 11,650-11,775 range with a stop loss of 11,800 and target 11,600, 11,550, 11,500.

Buy Bank Nifty with a stop loss of 23,350 and target 24,000, 24,200, 24,500.

Sell Bank Nifty in 24,200-24,500 range with a stop loss of 24,650 and target 24,000, 23,800, 23,600, 23,500.

3 Stocks In F&O Ban:

2 New In Ban: PNB, Escorts 

Out of Ban: Vodafone Idea

Already In Ban: IB Housing