Anil Singhvi’s Market Strategy October 3: IT, Pharma are positive; Aviation, OMC are negative

The domestic stock markets snapped their three-day losing streak on Monday, October 1, 2018, following the RBI's announcement to shore up liquidity needs. On the day, the S&P BSE Sensex closed at 36,526.14 after climbing 299 points or 0.83%. Similarly, Nifty 50 at the National Stock Exchange closed at 11,008.30 after going up by 77.85 points or 0.71%. BankNifty also saw a rise of 247.15 points or 0.98% and closed at 25,367. 

Amid positive domestic institutional investors (DIIs), neutral future and option (F&O), negative foreign institutional investors (FII) and global market cues, the short-term trend of the Indian market will continue to be in the negative zone on October 3, 2018. Traders are advised to be cautious while trading in the market today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 3: 
11,000 is going to be the deciding level on Nifty. 

The small trading range on Nifty stands at the mark of 10,925-11,050 and the bigger range lies between 10,850-11,100. 

The small and bigger trading range on BankNifty lies between 25,000-25,400 and 24,900-25,500 respectively. 

Big support range on Nifty and BankNifty stands at 10,825-10,875 and 24,700-24,900. 

The selling zone on the two indices lies between 11,050-11,100 and 25,350-25,450. 

Traders are advised to close their buying positions if the two indices, Nifty and BankNifty, closes below the mark of 10,925 and 25,000. 

However, traders can increase their buying positions on Nifty and BankNifty if the two indices close above the mark of 11,100 and 25,400. 

Watch this Zee Business video here:

 
Buy and Sell Strategy on Nifty
Sell Nifty with a stop loss of 11,050 and target 11,950-11,925-10,875. 

Buy Nifty in 10825-10875 range with stop loss 10,800 and target 10,925-10,975. 
 
Buy and Sell Strategy on BankNifty
Sell BankNifty with a stop loss of 25,450 and target 25,200-25,050-24,900. 

Buy BankNifty in 24900-25000 range with a stop loss of 24,850 and target 25,050-25,200. 
 
The put-call ratio (PCR) stands at 1.41 and the volatility index (VIX) is 16.83. 

Sectors: 
Negative: Aviation, OMC

Positive: IT, Pharma

No stock in F&O Ban today