Anil Singhvi's Market Strategy for July 13: Midcap Banks, OMC, Paints are positive; HCL Tech is stock of the day
Amid positive global, domestic institutional investors (DIIs), neutral future and option (F&O) and foreign institutional investors(FII) cues, the short-term trend of the Indian market and sentiments thereof are also positive going forward on July 13, 2018.
After an intraday rally, stocks trimmed gains in mid-afternoon trade amidst positive global cues on July 12, 2018. On the day, stocks logged positive trade for the fifth straight session and BSE Sensex added 282.48 points or 0.78 per cent to hit an all-time high of 36,548.41. Nifty also breached the psychological 11,000 mark and closed at 11,023.20 up 74.90 points or 0.68 per cent. Similarly, BankNifty also closed 210.35 points or 0.78 per cent high to close at 27,026.55.
Amid positive global, domestic institutional investors (DIIs), neutral future and option (F&O) and foreign institutional investors(FII) cues, the short-term trend of the Indian market and sentiments thereof are also positive going forward on July 13, 2018. In addition, strong global markets, weak crude and strong rupee positives will act as an important trigger for the market.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 13:
11,000 and 27,000 are going to be a deciding level at Nifty and BankNifty respectively.
Small trade range on Nifty stands at 10,975-11,075 and the bigger range lies between 10950-11150.
Small trade range on BankNifty lies between 26,925-27,150 and the bigger range stands between 26,775-27,250.
10,950-10,975 and 26,775-26,925 are going to be the strong support zone on Nifty and BankNifty.
However, Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below 10,940 and 26,800.
The Put-call ratio (PCR) which stands at 1.73 and thus, the traders are advised to be alert at the higher level.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,975 and a target of 11,075-11,100-11,150.
Sell Nifty in 11125-11150 range with a stop loss of 11,175 and a target of 11,075-11,050.
Buy and Sell strategy on BankNifty
Buy BankNifty with a stop loss of 26,925 and a target of 27,100-27,150-27,250.
Sell BankNifty in 27,150-27,200 range with a stop loss of 27,250 and target of 27,000.
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The put-call ratio (PCR) for July 13 stands at 1.73 and the volatility index (VIX) is 12.50.
Positive: Midcap Banks, OMC, Paints
Enters F&O Ban: Jet Airways
Out of Ban: IDBI
Stock of the Day: HCL Technologies