Anil Singhvi's Market Strategy November 14: Market is Positive; Oil & Gas, Aviation, Paints are Positive sectors
Being bullish throughout the day, the Indian markets closed in positive zone on November 13, 2018.
Being bullish throughout the day, the Indian markets closed in positive zone on November 13, 2018. Nifty 50 closed 100.30 points or 0.96 per cent high at 10,582.50 while Nifty Bank registered a gain of 228.85 points or 0.90 per cent and closed at 25,768.60. Similarly, BSE S&P Sensex closed 331.50 points or 0.96 per cent higher at 35,144.49.
Amid neutral future and option (F&O), domestic institutional investors (DIIs), global markets, negative foreign institutional investors (FII), and positive sentiments, the short-term trend of the Indian market is set to be positive today, on November 14, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 14:
10,600 and 25,750 are going to be the deciding level on Nifty and BankNifty 10,525-10,625 is the small trade range on Nifty while the bigger and extreme range lies between 10,475-10,650 and 10,450-10,700 respectively.
In the case of BankNifty, the small and bigger trading range lies between 25,600-25,900 and 25,500-26,000 and the extreme range stands at 25,400-26,100.
Support Zone on the two indices, Nifty and BankNifty stand at 10,475-10,525 and 25,400-25,500 respectively.
Traders can increase their buying positions if Nifty and BankNifty close above the mark of 10,600 and 25,750.
Sell and Buy Strategy on Nifty
Buy Nifty with a stop loss of 10,525 and target of 10625, 10650, 10700.
Sell Nifty in 10,675-10,700 range with a stop loss of 10,725 and target of 10,650, 10,625.
Sell and Buy Strategy on BankNifty
Buy Bank Nifty with a stop loss of 25,500 and target 25,825, 25,900, 26,000.
Sell Bank Nifty in 26,000-26,100 range with a stop loss of 26,200 and target of 26,000, 25,900, 25,750.
Enters F&O ban: Jet Airways
Already in F&O ban: Adani Power
The put-call ratio (PCR) stands at 1.60 and the volatility index (VIX) is 18.70.
Positive: Oil & Gas, Aviation, Paints
Buy Tata Steel Futures: Stop loss 575 and target of 615, 630. Strong operational performance, book profit at a higher level.
Sell Sun Pharma: Stop loss 575 and target 545, 535. Bad Numbers, week outlook.
Ashok Leyland: Mixed result, Dasari exit is negative
Glenmark Pharma: In-line numbers, profit booking at higher levels
Stock of the Day:
Buy IGL Futures: Stop loss 270 and target of 278, 283, 288. Natural gas prices up by 4.5%. Big positive for IGL.