Anil Singhvi’s Strategy August 10: Day support zone on Nifty is 16,125-16,200 & Bank Nifty is 35,600-35,800

Amid neutral global markets, foreign institutional investors (FIIs), neutral future & options (F&O), negative domestic institutional investors (DIIs), and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, August 10, 2021.

Domestic equity benchmarks managed to end with decent gains on Monday, August 9, 2021. The S&P BSE Sensex advanced 125.13 points or 0.23 per cent to 54,402.85. The Nifty 50 index added 20.05 points to close at 16,258.25. The Nifty Bank index gained 219.70 points or 0.61 per cent and close at 36,028.95.

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In the broader markets, the BSE MidCap lost 1.07 per cent and SmallCap indices declined nearly 0.72 per cent each.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 10:

Day support zone on Nifty is 16,125-16,200 and the Day Higher zone on Nifty is 16,300-16,350.

Day support zone on Bank Nifty is 35,600-35,800 and the Day Higher zone on Bank Nifty is 36,200-36,400.

The small day range for trading on Nifty is 16,200-16,300, while the medium and bigger day ranges are 16,175-16,325 and 16,125-16,350, respectively.

The small day range for trading on Bank Nifty is 35,825-36,225, while the medium and bigger day ranges are 35,700-36,350 and 35,600-36,475, respectively.

FIIs Index long at 67% Vs 66%

PCR at 1.35 Vs 1.40

India VIX unchanged at 12.61

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16,100.

Bank Nifty Intraday stop loss is 35,600 and Closing stop loss is 35,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,350.

Bank Nifty Intraday and Closing stop loss are 36,250.

For New Positions:

Buy Nifty with a stop loss of 16,100 and target 16,290, 16,320, 16,335, 16,350, 16,400.

Sell Nifty in 16,300-16,350 range with a stop loss of 16,400 and target 16,260, 16,225, 16,200, 16,175, 16,140.

For New Positions:

Buy Bank Nifty in 35,625-35,825 range with a stop loss of 35,550 and target 36,000, 36,125, 36,200

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 35,800 and target 36,125, 36,200, 36,350, 36,400, 36,475.

Sell Bank Nifty in 36,350-36,475 range with a stop loss of 36,600 and target 36,225, 36,125, 36,025, 35,850.

F&O Ban Update:

6 Already In Ban: Sun TV, Indiabulls Housing Finance, Canara Bank, RBL Bank, NALCO, SAIL

New In Ban: Nil

Out Of Ban: Nil

Chemplast Sanmar IPO Preview: AVOID

Positives:

Experienced Management and Leadership Position

Negatives:

Company delisted in 2012 at Rs 15

Promoters offloading Huge 45% stake in IPO

Negative Equity of Rs 350 Crore on 31 March 2021

Valuations not attractive

Aptus Value Housing Finance IPO Preview: APPLY FOR LONG TERM

Positives:

Experienced Promoters

Good quality Loan book

Strong growth track record

Negatives:

Presence limited only in Southern India

Valuations reasonable, not very attractive