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Home > Stock Market > Anil Singhvi’s Strategy August 21: Day Support Zone on Nifty is 11,250-11,325 & Bank Nifty is 21,900-22,000

Anil Singhvi’s Strategy August 21: Day Support Zone on Nifty is 11,250-11,325 & Bank Nifty is 21,900-22,000

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Anil Singhvi’s Strategy August 21: Amid positive global markets and sentiment, negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, August 21, 2020.  

The domestic stocks markets corrected itself on Thursday, August 20, 2020, and closed in a red due to weak global cues. The global cues triggered profit-booking; selling was prominent in banks and financial shares. The indices were volatile due to expiry of weekly index options.

The BSE Sensex, which opened on the back foot, stayed in the negative territory throughout the session, before closing at 38,220, down 394 points, or 1.02 per cent. On similar lines, the broader NSE Nifty slumped 96 points, or 0.84 per cent, to finish at 11,312. Bank Nifty also fell 286 points, or 1.29 per cent, to settle at 21,999. 

The broader market at BSE closed divergently outperforming the Sensex. The Mid-cap rose 0.87 per cent and Small-cap surged 0.72 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 21: 

Day Support Zone on Nifty is 11,250-11,325, the day higher range is 11,375-11,450. 

Day support zone on Bank Nifty is 21,900-22,000, the day higher range is 22,200-22,275, above that 22,325-22,450 is the strong profit-booking range. 

Small Day Range on Nifty is 11,325-11,375, while the medium and bigger ranges are 11,300-11,400 and 11,250-11,450, respectively.

Small Day Range on Bank Nifty is 22,075-22,275, while the medium and bigger ranges are 22,000-22,425 and 21,900-22,500, respectively. 

Put-Call Ratio (PCR) is 1.55; India Volatility Index (VIX) 3% up at 20.62.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,250.

Bank Nifty intraday and closing stop loss are 21,900.

For Existing Short Positions:

Nifty intraday and closing stop loss are 11,500.

Bank Nifty intraday and closing stop loss are 22,500.

For New Positions: Nifty

Buy Nifty with a stop loss of 11,290 and target 11,375, 11,400, 11,450. 

Sell Nifty in 11,400-11,450 range with a stop loss of 11,500 and target 11,350, 11,325, 11,300. 

For New Positions: Bank Nifty

Buy Bank Nifty with a stop loss of 21,875 and target 22,200, 22,275, 22,325, 22,425.

Sell Bank Nifty in 22,325-22,450 with a stop loss of 22,500 and target 22,275, 22,200, 22,075, 22,000.

Sectors: 

Positive: Metals, MidCaps & SmallCaps

Watch Zee Business live TV below:

14 Stocks In F&O Ban:

3 New in Ban: RBL Bank, Muthoot Finance, NALCO.

2 Out of Ban: SAIL, BHEL.

11 Already In Ban: Vodafone Idea, Vedanta, Aurobindo Pharma, Manappuram Finance, Sun TV, JSPL, Adani Enterprises, IB Housing, Bank Of Baroda, Century Textiles, Canara Bank



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