Amid positive sentiment, neutral global markets, foreign institutional investor (FII), domestic institutional investor (DII) and futures & options (F&O) cues, the short-term trend of Indian share market will be positive on Friday, November 22, 2019.

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Earlier on Thursday, November 21, 2019, the domestic stock markets closed marginally lower. Investors booked profits after the Union Cabinet announced several measures on Wednesday. Negative global cues also dented trading sentiment. Trading was volatile due to weekly expiry of index options. On the day, the Sensex at the Bombay Stock Exchange fell 76.47 points, or 0.19 per cent, to end at 40,575.17. The Nifty 50 at the National Stock exchange shed 30.70 points, or 0.26 per cent, to close at 11,968.40, while Bank Nifty was down by 3.90 points, or 0.01 per cent, to close at 31,349.95.

Zee Entertainment Enterprises (ZEEL) was the biggest gainer as it soared around 11.73 per cent on the National Stock Exchange. On the other hand, BPCL (lost 5.97 per cent), Coal India (lost 3.37 per cent) and Tata Steel (lost 3.25 per cent) were among the stocks that pulled down the market after snapping its two-day winning run.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 22: 

Strong buy zone on Nifty 11,875-11,950 and on Bank Nifty 31,000-31,250.

Profit booking range on Nifty 12,025-12,100 and Bank Nifty 31,650-31,750.

The small day range for trading on Nifty stands at 11,940-12,000, while the medium and bigger trading ranges are 11,900-12,025 and 11,875-12,100.

The small day range for trading on Bank Nifty stands at 31,250-31,450, while the medium and bigger trading ranges are 31,200-31,650 and 31,000-31,750.

For Existing Long Positions:

Nifty intraday and closing stop loss 11,875.

Bank Nifty intraday and closing stop loss 31,200.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,050.

Bank Nifty intraday and closing stop loss 31,500.

For New Positions:

Buy Nifty in 11,925-11,950 range with a stop loss of 11,875 and target 12,000, 12,025, 12,075.

Sell Nifty near 12,100 with a stop loss of 12,125 and target 12,050, 12,025.

Buy Bank Nifty in 31,000-31,250 range with a stop loss of 30,950 and target 31,350, 31,450, 31,650.

Sell Bank Nifty in 31,650-31,750 range with a stop loss of 31,800 and target 31,500, 31,400.

The put-call ratio (PCR) is 1.53 and the volatility index (VIX) is 14.98.

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