Anil Singhvi’s Market Strategy September 3: Cement, Real Estate, Infra, Auto & Banks are negative
The S&P BSE Sensex on Friday closed after declining by 45.03 points (0.12%) and closed at 38,645.07, while the Nifty 50 at the National Stock Exchange went up by 3.70 points (0.03%) to close at 11,680.50. Similarly, Nifty Bank also closed at 28,061.75 after going down by 41.50 points (0.15%).
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09:27 AM IST
The S&P BSE Sensex on Friday closed after declining by 45.03 points (0.12%) and closed at 38,645.07, while the Nifty 50 at the National Stock Exchange went up by 3.70 points (0.03%) to close at 11,680.50. Similarly, Nifty Bank also closed at 28,061.75 after going down by 41.50 points (0.15%).
However, neutral global outlook, future and options (F&O), domestic institutional investors (DIIs) and negative foreign institutional investors (FII) cues suggest that the short-term trend of the Indian market will be neutral on September 3, 2018. But the traders are advised to be cautious while trading in the market today.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 3:
Weak Global markets, Falling Rupee, Rising crude to limit upside
Poor auto sales, ban on construction activities, interest rate hike by Banks are negatives
Strong GDP numbers and liquidity to give support at lower levels
Sell on rising strategy till Nifty again crosses 11760
Deciding level on Nifty and BankNifty lies at 11,700 and 28,000 respectively.
The small trading range on Nifty lies between 11,625 -11,725 and the bigger range resides at 11,600-11,750.
In the case of BankNifty, the small and bigger trade range lies between 27,950-28,150 and 27,800-28,250 respectively.
Traders should reduce their buying positions on Nifty and BankNifty if they close below the mark of 11,575 and 28,000 respectively.
Buy & Sell Strategy on Nifty
Sell Nifty with a stop loss of 11,760 and a target of 11,650-11,625-11,600.
Buy Nifty near 11600 with stop loss 11,575 and target 11,650.
Sell Strategy on BankNifty
Sell BankNifty with a stop loss of 28,250 and target 27,950-27,800.
The put-call ratio (PCR) today stands at 1.55 and the volatility index (VIX) is 12.60.
Watch this Zee Business video here:
Sectors:
Negative: Cement, Real Estate, Infra, Auto and Banks
No stock in F&O Ban
Stock of the Day:
Sell DLF Futures: Stop loss 224, target 212, 208, 203
FIR filed in 2008 case
Sell ACC Futures: Stop loss 1655 target 1620-1600
Construction ban in 3 states is a big negative
Buy Wipro Futures: Stop loss 298 target 308-310
$1.5 bn big order win
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