Amid positive global markets, negative foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral future & options (F&O) and sentiment, cues, the short-term trend of the Indian stock markets will be positive on Wednesday, October 20, 2021. 

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Snapping its rally of the past seven days, the domestic equity markets corrected marginally on Tuesday, October 19, 2021. The S&P BSE Sensex dropped 49.54 points or 0.08% to 61,716.05. The Nifty 50 index fell 58.30 points, or 0.32%, to 18,418.75. Bank Nifty declined 144.30 points, or 0.36 per cent, to settle at 39,540.50.

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In the broader markets, the BSE MidCap fell 1.98 per cent and the BSE SmallCap index ended 1.79 per cent down.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 20:

Day support zone on Nifty is 18,350-18,375, below that 18,200-18,250 is a strong Buy zone.

Day higher zone on Nifty is 18,450-18,475, above that 18,550-18,600 is a strong Profit booking zone.

Day support zone on Bank Nifty is 39,350-39,400, below that 38,800-39,000 is a strong Buy zone.

Day higher zone on Bank Nifty is 39,600-39,675, above that 39,900-40,000 is a strong Profit booking zone.

The small day range for trading on Nifty is 18,350-18,475, while the medium and bigger day ranges are 18,250-18,550 and 18,200-18,600, respectively.

The small day range for trading on Bank Nifty is 39,350-39,800, while the medium and bigger day ranges are 39,000-39,900 and 38,800-40,000, respectively.

FIIs Index long increased to 69% Vs 66%.

PCR light and comfortable at 1.23 Vs 1.41.

India VIX up 1% at 17.38.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 18,300.

Bank Nifty Intraday and Closing stop loss are 39,300.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,600.

Bank Nifty Intraday and Closing stop loss are 40,050.

For New Positions:

Buy Nifty in 18,200-18,250 range with a stop loss of 18,150 and target 18,350, 18,375, 18,425, 18,475.

Aggressive Traders Buy Nifty with a Strict stop loss of 18,300 and target 18,475, 18,525, 18,600.

Sell Nifty in 18550-18600 range with a stop loss of 18,650 and target 18,475, 18,425, 18,375, 18,350.

For New Positions:

Buy Bank Nifty in 38800-39000 range with a stop loss of 38,600 and target 39,350, 39,400, 39,550.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 39,300 and target 39,675, 39,800, 39,950, 40,000.

Sell Bank Nifty in 39900-39950 range with a Strict stop loss of 40,100 and target 39,800, 39,700, 39,575, 39,400.

F&O Ban Update:

3 New In Ban: IRCTC, SAIL, PNB

Out Of Ban: Indiabulls Housing

6 Already In Ban: Escorts, NALCO, Amara Raja, BHEL, Vodafone Idea, Sun Tv