Anil Singhvi’s Strategy November 15: Market Trend is Positive; Sell Vodafone Idea Futures due to historical loss of 50,922 crores
Earlier on Thursday, November 14, 2019, domestic stocks logged marginal gains in afternoon trade after trading in a range-bound manner for the most part of the day owing to weekly expiry of derivative contracts. However, late buying in banking shares helped benchmarks clock gains in the session.
Amid positive global markets, neutral futures & options (F&O) and domestic institutional investor (DII), negative foreign institutional investor (FII) and cautious sentiment cues, the short-term trend of Indian share market will continue to be positive on Friday, November 15, 2019.
Earlier on Thursday, November 14, 2019, domestic stocks logged marginal gains in afternoon trade after trading in a range-bound manner for the most part of the day owing to weekly expiry of derivative contracts. However, late buying in banking shares helped benchmarks clock gains in the session. On the day, the S&P BSE Sensex gained 170.42 points or 0.42% to end at 40,286.48. Nifty 50 rose 31.65 points or 0.27% to close at 11,872.10 while Bank Nifty was up by 208.40 points or 0.73% and settled at 30,749.95. The gains were led by ICICI Bank, Infosys, Bajaj Finance, HDFC Bank and Maruti.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 15:
11,900 and 30,750 are the deciding levels on Nifty and Bank Nifty respectively.
The small day range for trading on Nifty stands at 11,850-11,900 while the medium and bigger range lies between 11,800-11,950 and 11,750-12,000.
The small day range for trading on Bank Nifty stands at 30,625-31,000 while the medium and bigger range lies between 30,500-31,100 and 30,350-31,200.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,800.
Bank Nifty intraday and closing stop loss 30,500.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,950.
Bank Nifty intraday and closing stop loss 31,000.
For New Positions:
Buy Nifty in 11,800-11,850 range with a stop loss of 11,800 and target 11,925, 11,950, 11,975.
Sell Nifty in 11,950-12,000 range with a stop loss of 12,035 and target 11,925, 11,900, 11,875.
Buy Bank Nifty in 30,350-30,550 range with a stop loss of 30,300 and target 30,650, 30,750, 31,000.
Sell Bank Nifty in 31,000- 31,200 range with a stop loss of 31,250 and target 30,800, 30,650, 30,550.
The put-call ratio (PCR) is 1.41 and the volatility index (VIX) is 15.65.
Sell Balkrishna Futures: Stop loss 818 and target 800, 780. Weak Results and guidance cut of revenue expected.
Sell CESC Futures: Stop loss 766 and target 745, 738. Operationally weak results.
Sell Bharti Airtel Futures: Stop loss 365 and target 340, 333. Historical loss of Rs20,000 crores.
Sell Vodafone Idea Futures: Historical loss of 50,922 crores.
Watch Zee Business Live Video below:
Stock of the Day:
Sell Union Bank Futures: Stop loss 53 and target 50, 48, 46. Weak results and weaker outlook.
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.