Anil Singhvi’s Strategy August 5: Day support zone on Nifty is 16,125-16,175 & Bank Nifty is 35,600-35,800
Domestic stock markets closed at another record-breaking on Wednesday, August 4, 2021.
Amid negative global markets, positive foreign institutional investors (FIIs), sentiment, neutral domestic institutional investors (DIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, August 5, 2021.
See Zee Business Live TV Streaming Below:
Domestic stock markets closed at another record-breaking on Wednesday, August 4, 2021. S&P Sensex hit a new lifetime high of 54,465.91 in intraday deals, while Nifty 50 touched a new high of 16,290.20. The S&P BSE Sensex surged 546.41 points or 1.02 per cent to close at 54,369.77. The Nifty 50 index jumped 128.05 points or 0.79 per cent to 16,258.80. Similarly, Bank Nifty rose 820.60 points or 2.33 per cent to close at 36,028.05.
However, in the broader market, the BSE Midcap index and the Smallcap index lost 1.1 per cent, each.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 5:
Day support zone on Nifty is 16,125-16,175, below that 15,925-16,000 is a strong Buy zone.
Day higher zone on Nifty is 16,275-16,325, above that 16,375-16,400 is a Profit-booking zone.
Day support zone on Bank Nifty is 35,600-35,800, below that 35,350-35,450 is a strong Buy zone.
Day higher zone on Bank Nifty is 36,350-36,400, above that 36,475-36,600 is a Profit-booking zone.
The small day range for trading on Nifty is 16,175-16,300, while the medium and bigger day ranges are 16,125-16,350 and 16,000-16,400, respectively.
The small day range for trading on Bank Nifty is 35,800-36,225, while the medium and bigger day ranges are 35,600-36,400 and 35,450-36,600, respectively.
FIIs Index long at 70% Vs 69%
PCR at 1.53 Vs 1.65
India VIX down by 4% at 13.21
For Existing Long Positions:
Nifty Intraday stop loss is 16,100 and Closing stop loss is 15,900.
Bank Nifty Intraday stop loss is 35,800 and Closing stop loss is 35,500.
For Existing Short Positions:
Nifty Intraday and Closing stop loss are 16,300.
Bank Nifty Intraday and Closing stop loss are 36,250.
For New Positions:
Buy Nifty (Best Buy range 16125-16175) with a stop loss of 16,100 and target 16,250, 16,280, 16,300, 16,350, 16,400.
Aggressive Traders Sell Nifty 16375-16425 range with a stop loss of 16,500 and target 16,300, 16,260, 16,200, 16,175, 16,150.
For New Positions:
Buy Bank Nifty in 35600-35800 range with a stop loss of 35,400 and target 36,000, 36,100, 36,200, 36,350, 36,400, 36,475.
Aggressive Traders Buy Bank Nifty with a Strict stop loss of 35,800 and target 36,200, 36,350, 36,400, 36,475, 36,600, 36,750.
Sell Bank Nifty in 36,475-36,600 range with a stop loss of 36,800 and target 36,350, 36,225, 36,050, 35,900.
F&O Ban Update:
New In Ban: Indiabulls Hsg Fin, Canara Bk
Already In Ban: Sun TV
Out Of Ban: Nil
Stock of the Day:
Sell IDFC First Bank Futures: Stop loss 50.50 and target 48, 46, 44. IDFC First Bank exposure in Voda-Idea in trouble.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.