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Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), negative foreign institutional investors (FIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, November 1, 2021. 

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Equity indices extended their losing run to the third trading session amid negative global cues. The S&P BSE Sensex fell 677.77 points or 1.13 per cent to 59,306.93. The Nifty 50 index was down 185.60 points or 1.04 per cent to 17,671.65. Bank Nifty fell 393.35 points or 1 per cent to 39,115.60.

In the broader markets on the BSE, S&P BSE MidCap rose 0.16 per cent while S&P MidCap fell 0.38 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 1:

Day support zone on Nifty is 17,575-17,625, below that 17,450-17,525 is a strong support zone.

Day higher zone on Nifty is 17,750-18,850, above that 17,900-17,950 is a strong Profit booking zone.

Day support zone on Bank Nifty is 38,675-38,775, below that 38,425-38,525 is a strong Buy zone.

Day higher zone on Bank Nifty is 39,350-39,500, above that 39,700-39,775 is a Profit booking zone.

The small day range for trading on Nifty is 17,625-17,800, while the medium and bigger day ranges are 17,575-17,850 and 17,525-17,900, respectively.

The small day range for trading on Bank Nifty is 38,775-39,350, while the medium and bigger day ranges are 38,525-39,500 and 38,425-39,775, respectively.

FIIs Index long increased to 56% Vs 54%.

PCR at 0.75 Vs 0.90, still oversold, short-covering expected from lower levels.

India VIX down by 3% at 17.43.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,600.

Bank Nifty Intraday stop loss is 38,400 and Closing stop loss is 39,000.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,900.

Bank Nifty Intraday stop loss is 39,550 and Closing stop loss is 40,050.

For New Positions:

Buy Nifty with a stop loss of 17,500 and target 17,750, 17,800, 17,850, 17,900, 17,950.

Sell Nifty in 17,850-17,950 range with a stop loss of 18,050 and target 17,800, 17,750, 17,700, 17,675, 17,625.

For New Positions:

Buy Bank Nifty in 38,500-38,675 range with a stop loss of 38,400 and target 38,775, 39,100, 39,300, 39,350

Aggressive Traders Buy Bank Nifty with a strict stop loss of 38,900 and target 39,300, 39,400, 39,500, 39,700, 39,775.

Sell Bank Nifty in 39,700-39,775 range with a stop loss of 39,850 and target 39,575, 39,500, 39,400, 39,350, 39,100.

F&O Ban Update:

New In Ban: PNB

Out Of Ban: Nil

Already In Ban: Nil

PB Fintech IPO Preview: RISK TAKING INVESTORS APPLY FOR LONG TERM

Positives:

Market leader with a strong growth track record

Aggressive growth plans

Negatives:

Loss-making Business

Risk of change in regulations

SJS Enterprises IPO Preview: APPLY FOR LONG TERM

Positives:

Strong Promoters with a good track record

Debt-free, Cash rich company with strong Cash flows

Visible growth opportunities

Negatives:

Valuations are not very attractive



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