Anil Singhvi’s Strategy July 28: Day support zone on Nifty is 11,000-11,100 & Bank Nifty is 21,400-21,600

Anil Singhvi’s Strategy July 28: Amid positive global markets, neutral FIIs, F&O and negative DIIs, the short-term trend of the Indian stock markets will be positive today.

Anil Singhvi’s Strategy July 28: Small Day Range for trading on Bank Nifty is 21,800-22,050, while the medium and bigger ranges are 21,600-22,175 and 21400-22400, respectively.

Anil Singhvi’s Strategy July 28: Amid positive global markets, neutral foreign institutional investors (FIIs), futures & options (F&O), sentiment and the negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, July 28, 2020.

Benchmark domestic stocks on Monday, July 27, 2020, lost more than half a per cent amid mixed global cues. Weakness in banks shares eclipsed gains in IT shares. Banks corrected after RBI in its Financial Stability report warned that bad-loan ratio is set to worsen to 12.5%.

The Sensex at Bombay Stock Exchange declined 194 points, or 0.51 per cent, up at 37,935. Similarly, Nifty at National Stock Exchange fell 62 points, or 0.56 per cent, to settle at 11,132. Likewise, Bank Nifty lost 813 points, or 3.59 per cent, to settle at 21,849.

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In the broader market at BSE, the Mid-cap and Small-cap underperformed the Sensex. Mid-cap closed down by one per cent and Small-cap slipped 0.98 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 28:

Day support zone on Nifty is 11,000-11,100; the day higher range is 11,200-11,250, above that 11300-11350 is profit-booking range.

Day support zone on Bank Nifty is 21,400-21,600; the day higher range is 22,000-22,175, above that 22,400-22,500 is profit-booking range.

Small Day Range for trading on Nifty is 11,090-11,200, while the medium and bigger ranges are 11,050-11,250 and 11,000-11,300, respectively.

Small Day Range for trading on Bank Nifty is 21,800-22,050, while the medium and bigger ranges are 21,600-22,175 and 21400-22400, respectively.

Put-Call Ratio (PCR) is 1.49, India Volatility Index (VIX) 2% up at 25.02.

For Existing Long Positions:

Nifty intraday stop loss is 11,075 and closing stop loss 11,000.

Bank Nifty intraday and closing stop loss are 21,800.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,250.

Bank Nifty intraday and closing stop loss are 22,100.

For New Positions:

Buy Nifty with a stop loss of 11,075 and target 11,200, 11,225, 11,250, 11,300, 11,350.

Sell Nifty in 11,300-11,350 range with a stop loss of 11,400 and target 11,250, 11,200, 11,175, 11,125.

Buy Bank Nifty with a stop loss of 21,750 and target 22,000, 22,175, 22,300, 22,400.

Sell Bank Nifty in 22,200-22,400 range with a stop loss of 22,550 and target 22,050, 21,900, 21,800.

9 Stocks In F&O Ban:

New Entry: Canara Bank, IndusInd Bank

Out of Ban: Sun TV, NALCO, Glenmark

Already in Ban: BHEL, Adani Enterprises, GMR Infra, Vodafone Idea, SAIL, IB Housing, RBL Bank

Result Review:

United Spirits Futures: Results operationally weak, Stock can fall up to 565-575 range. 620-625 is higher sell range.

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