Anil Singhvi’s Strategy September 20: Day support zone on Nifty is 17,380-17,440 & Bank Nifty is 37,325-37,425
Amid negative global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), future & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, September 20, 2021.
Amid negative global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), future & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, September 20, 2021. Domestic equity indices snapped their three-day winning streak and ended with small losses on Friday, September 17, 2021, amid losses in heavyweight Reliance Industries, IT Stocks and select banking stocks. The S&P BSE Sensex fell 125.27 points or 0.21 per cent to end 59,015.89. Nifty 50 index was down 44.35 points or 0.25 per cent at 17,585.15.
The Sensex hit a record high of 59,737.32 while the Nifty hit an all-time high of 17,792.95 in the intraday deals. However, the Bank Nifty gained 143.35 points or 0.38 per cent to close at 37,811.95.
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The broader markets underperformed Sensex with the S&P BSE MidCap index sinking 1.14 per cent and S&P BSE SmallCap losing 1.06 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for September 20:
Trend will change only if Nifty closes below 17,275-17,350 range and Bank Nifty closes below 36,700-36,850 range.
Day support zone on Nifty is 17,380-17,440, Below that 17,275-17,350 is a strong Buy zone.
Day higher zone on Nifty is 17,600-17,625, above that 17,700-17,775 is a Profit-booking zone.
Day support zone on Bank Nifty is 37,325-37,425, Below that 37,050-37,150 is a strong Buy zone.
Day higher zone on Bank Nifty is 37,800-38,000, above that 38,100-38,300 is Profit-booking zone.
The small day range for trading on Nifty is 17,440-17,600, while the medium and bigger day ranges are 17,380-17,625 and 17,350-17,700, respectively.
The small day range for trading on Bank Nifty is 37,425-38,000, while the medium and bigger day ranges are 37,325-38,100 and 37,150-38,300, respectively.
FIIs Index long increased to 68% Vs 61%
PCR near oversold levels at 1.15 Vs 1.58, short covering expected from lower levels
India VIX up by 6% at 15.23
For Existing Long Positions:
Nifty Intraday stop loss is 17,500 and Closing stop loss is 17,350.
Bank Nifty Intraday and Closing stop loss are 37,300.
For Existing Short Positions:
Nifty Intraday stop loss is 17,800 and Closing stop loss is 17,650.
Bank Nifty Intraday stop loss is 38,150 and Closing stop loss is 38,000,
For New Positions:
Sell Nifty with a stop loss of 17,700 and target 17,535, 17,500, 17,440, 17,380, 17,350.
Buy Nifty in 17375-17440 range with a s stop loss of 17,275 and target 17,500, 17,525, 17,575, 17,625.
For New Positions:
Sell Bank Nifty with a stop loss of 38,150 and target 37,425, 37,325, 37,150, 37,,050, 36,850.
Buy Bank Nifty in 37,050-37,150 range with a stop loss of 36,850 and target 37,300, 37,400, 37,675, 37,800.
Aggressive Traders Buy Bank Nifty in 37,325-37,425 range with a Strict stop loss of 37,250 and target 37,675, 37,800, 37,950, 38,100.
F&O Ban Update:
3 Stocks Enters In Ban: IRCTC, PNB, Indiabulls Housing Finance
Out Of Ban: Zee Entertainment
5 Already In Ban: SAIL, Sun Tv, Escorts, Exide Ind, NALCO
Stock Of The Day:
Sell Lupin Futures: Stop loss 965 and target 935, 925, 910. Goa plant gets 7 observations from USFDA
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