Anil Singhvi’s Strategy August 25: Amid positive global markets, foreign institutional investors (FIIs), sentiment, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, August 25, 2020.
Equity benchmarks Sensex and Nifty on Monday, August 24, 2020, closed near six-month highs as investors scooped up banking and financial stocks. Key indices rose around one per cent amid a positive trend in global equities and sustained foreign fund inflows.
The BSE Sensex closed at 38,799, up 364 points or 0.95 per cent. Similarly, the NSE Nifty jumped 95 points or 0.83 per cent to finish at 11,466. Bank Nifty rose 533.40 points or 2.39 per cent to close at 22,833.
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In the broader market at BSE, the Mid-cap rose 0.44 per cent and Small-cap surged 1.6 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 25:
Day support zone on Nifty is 11,350-11,425, the higher range is 11,500-11,535, above that 11,625-11,675 is the next target till expiry.
Day support zone on Bank Nifty is 22,650-22,750, below that 22,300-22,500 is strong buy zone.
The higher range on Bank Nifty is 23,075-23,200, above that 23,425-23,525 is the next target till expiry.
Small day range on Nifty is 11,420-11,500, while the medium and bigger ranges are 11,400-11,535 and 11,360-11,625, respectively.
Small day range on Bank Nifty is 22,650-23,075, while the medium and bigger ranges are 22,500-23,200 and 22,425-23,425, respectively.
Put-Call Ratio (PCR) is 1.63, FIIs Net Long in Index Futures, 64% Vs 60%. In the last two sessions, FIIs net long increased by 10%.
For Existing Long Positions:
Nifty intraday and closing stop loss are 11,350.
Bank Nifty intraday stop loss is 22,650 and closing stop loss is 22,300.
For Existing Short Positions:
Nifty intraday and closing stop loss are 11,500.
Bank Nifty intraday and closing stop loss are 23,000
For New Positions:
Buy Nifty with a stop loss of 11,350 and target 11,500, 11,535, 11,600, 11,625.
Sell Nifty in 11,600-11,625 range with a stop loss of 11,700 and target 11,550, 11,500, 11,475.
Buy Bank Nifty with a stop loss of 22,650 and target 23,000, 23,075, 23,200, 23,425.
Sell Bank Nifty near 23,200, only for high-risk traders with strict stop loss 23,250 and target 23,075, 23,000, 22,850.
Positive: Metals, Banks, NBFCs, Mid & Smallcaps
9 Stocks In F&O Ban:
5 New in Ban: Vodafone Idea, GMR Infra, SAIL, Ashok Leyland, Vedanta
4 Out of Ban: Aurobindo Pharma, Muthoot Finance, Canara Bank, RBL Bank
4 Already In Ban: Adani Enterprises NALCO, BHEL, PNB