Anil Singhvi’s Strategy November 21: Metal Sector is Negative; Buy BPCL Futures with Stop Loss 543

Amid positive sentiment, neutral domestic institutional investor (DII), futures & options (F&O) and foreign institutional investor (FII) and negative global cues, the short-term trend of Indian share market will be positive on Thursday, November 21, 2019.

Earlier on Wednesday, November 21, 2019, the domestic stock markets ended in Green. The barometer index, the Sensex at the Bombay Stock Exchange rose 181.94 points, or 0.45 per cent, to end at 40,651.64. The Nifty 50 index rose 59 points, or 0.49 per cent, to 11,999.10. The Bank Nifty gained 117.60 points, or 0.38 per cent, and settled at 31,353.85. The gains were supported by strong gains in Zee Entertainment Enterprises Limited (gained 8.12 per cent), Sun Pharma (gained 5.31 per cent), IndusInd Bank (gained 4.91 per cent), BPCL (gained 4.83 per cent), Dr. Reddy's Lab (gained 3.10 per cent) and Yes Bank (gained 2.73 per cent).

See Zee Business Live TV streaming below:

Zee Business's Managing Editor Anil Singhvi's Market Strategy for November 21:

Strong Buy Zone on Nifty 11,875-11,940 and on Bank Nifty is 31,000-31,200.

Profit Booking Levels on Nifty 12,100 and on Bank Nifty is 31,650-31,750.

The small day range for trading on Nifty stands at 11,950-12,035, while the medium and bigger ranges lie between 11,900-12,075 and 11,875-12,100.

The small day range for trading on Bank Nifty stands at 31,200-31,450, while the medium and bigger ranges lie between 31,000-31,650 and 30,850-31,750. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,875.

Bank Nifty intraday and closing stop loss 31,000. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,050.

Bank Nifty intraday and closing stop loss 31,500. 

For New Positions:

Buy Nifty in 11,925-11,950 range with a stop loss of 11,875 and target 12,000, 12,035, 12,075.

Sell Nifty near 12,100 with a stop loss of 12,125 and target 12,050, 12,000.

Buy Bank Nifty in 31,000-31,200 range with a stop loss of 30,950 and target 31,350, 31,450, 31,650.

Sell Bank Nifty in 31650-31750 range with a stop loss of 31,800 and target 31,500, 31,400. 

Sectors:

Positive: PSU, Banks, Oil & Gas

Negative: Metals

The put-call ratio (PCR) is 1.58 and the volatility index (VIX) is 15.16.

No stock in F&O Ban

Stock of the Day:

Buy BPCL Futures: Stop loss 543 and target 575, 590, 605. Strategic divestment cleared but be alert on higher levels.

Buy CONCOR Futures: Stop loss 571 and target 595, 605, 620. 30 per cent divestment cleared but profit booking expected on higher levels.