Anil Singhvi’s Strategy November 29: NBFC, PSU & Private Banks are Positive; Buy IB Housing Futures with Stop Loss 330

Amid positive foreign institutional investor (FII) and sentiment and neutral global market, domestic institutional investor (DII) and futures & options (F&O) cues, the short-term trend of Indian share market will be positive on Friday, November 29, 2019.

The domestic stocks market ended on a firm note on Thursday, November 28, 2019. The gains were supported by a rally in state and privately held banks and metal stocks. Indices witnessed significant volatility on account of monthly F&O expiry. On the day, the Sensex at the Bombay Stock Exchange rose 109.56 points, or 0.27 per cent, to end at a fresh all-time high of 41,130.17. The Nifty at the National Stock exchange advanced 50.45 points, or 0,42 per cent, to close at a record high of 12,151.15, while Bank Nifty rose to 32,122.95 after gaining 247 points. or 0.77 per cent.  

See Zee Business tweet below:

#MarketStrategy | कारोबारी हफ्ते के आखिरी दिन जानें निफ्टी और बैंक निफ्टी पर अनिल सिंघवी की दमदार रणनीति।
@AnilSinghvi_ #Nifty #BankNifty pic.twitter.com/Irn95xX9ps

— Zee Business (@ZeeBusiness) November 29, 2019

Besides, Reliance Industries (RIL) became the first Indian company to settle above the Rs 10 lakh crore market capitalisation.

See Zee Business Live TV streaming below:

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 29:

Day Buy zone on Nifty 12,000-12,035 and on Bank Nifty 31,750-31,900. 

Small day range for trading on Nifty 12,100-12,175, while the medium and bigger ranges lie between 12,075-12,200 and 12,035-12,250 respectively.  

Small day range for trading on Bank Nifty 31,900-32,350 and medium-range stand at 31,750-32,450 respectively.

Put Call Ratio (PCR) at 1.77. Be alert at higher levels. Some cool off expected.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,025.

Bank Nifty intraday and closing stop loss 31,700.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,200.

Bank Nifty intraday and closing stop loss 32,200.

For New Positions:

Buy Nifty in 12,075-12,100 range with a stop loss of 12,025 and target 12,125, 12,150, 12,200. 

Sell Nifty in 12,175-12,200 range with a stop loss of 12,250 and target 12,125, 12,100, 12,075. 

Buy Bank Nifty in 31,750-31,900 range with a stop loss of 31,700 and target 32,100, 32,200, 32,350.

Sell Bank Nifty only for aggressive traders with a strict stop loss of 32,200 and target 32000, 31900, 31750. 

Sectors:

Positive: NBFC, PSU and Private Banks

Out of F&O Ban: Yes Bank

Stock of the Day:

Buy Indiabulls Housing Futures: Stop loss 330 and target 345, 355, 365. CLSA upgrades target 450.