Anil Singhvi’s Strategy November 20: PSU, Bank & Oil & Gas sectors are Positive; Metal stocks are Negative

Amid positive sentiment, neutral global markets, domestic institutional investor (DII), futures & options (F&O) and negative foreign institutional investor (FII) cues, the short-term trend of Indian share market will be positive on Wednesday, November 20, 2019.

After a volatile session, earlier on Tuesday, November 20, 2019, the domestic stocks market closed in green. The Sensex at the Bombay Stock Exchange climbed 185.51 points, or 0.46 per cent, to end at 40,469.70. The Nifty at the National Stock Exchange advanced 55.60 points, or 0.47 per cent, to close at 11,940.10, while Bank Nifty rose 244.15 points, or 0.79 per cent, to settle at 31,236.25. On the day, telecom shares shot up on proposals to raise tariffs from December. Bharti Airtel hit a 52-week high. Index heavyweight Reliance Industries hit a record high.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 20:

The small day range for trading on Nifty stands at 11,900-11,975 while the medium and bigger ranges lie between 11,875-12,000 and 11,850-12,050. 

The small day range for trading on Nifty stands at 31,000-31,300 while the medium and bigger ranges lie between 30,850-31,450 and 30,750-31,650. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,840.

Bank Nifty intraday and closing stop loss 30,950.  

For Existing Short Positions:

Nifty intraday and closing stop loss 12,035. 

Bank Nifty intraday and closing stop loss 31,300.  

For New Positions:

Buy Nifty in 11,850-11,900 range with a stop loss of 11,800 and target 11,950, 11,975, 12,000. 

Sell Nifty in 11,975-12,000 range with a stop loss of 12,050 and target 11,940, 11,900, 11,875. 

Buy Bank Nifty in 31,000-31,100 range with a stop loss of 30,950 and target 31,300, 31,450, 31,600. 

Sell Bank Nifty in 31,450-31,550 range with a stop loss of 31,650 and target 31,300, 31,200, 31,100.  

Sectors:

Positive: PSU, Banks, Oil & Gas

Negative: Metals 

The put-call ratio (PCR) is 1.46 and the volatility index (VIX) is 15.41. 

No stock in F&O Ban

Stock of the Day:

Sell Yes Bank Futures: Stop loss 65.50 and target 63, 60. Rs. 3227 crore NPA and Rs. 978 crore provisioning divergence.