Anil Singhvis Strategy April 1: Metals and NBFC are Positive; Apply in RVNL IPO for listing gains in Retail category
Positive DII, global cues, neutral FII and F&O suggests that short-term trend of the Indian stock markets will remain positive, says Zee Business Managing Editor Anil Singhvi.
Positive domestic institutional investors (DIIs), global market and sentiments, neutral foreign institutional investors (FII) and futures & options (F&O) cues suggest that the short-term trend of the Indian stock markets will remain positive on Monday, April 1, 2019.
Earlier, the domestic stocks ended with modest gains on Friday, March 29, 2019. On the day, the barometer index, S&P BSE Sensex, rose 127.19 points, or 0.33% at 38,672.91. The Nifty 50 index rose 53.90 points, or 0.47%, to close at 11,623.90 while Nifty Bank grew 6.25 points, or 0.021%, to end at 30,426.80.
See Zee Business video below:
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 1:
11,600 and 30,500 are going to be the deciding levels on Nifty and Bank Nifty.
The small and medium day range for trading on Nifty lies between 11,600-11,700 and 11,570-11,750 respectively.
The small day range for trading on Nifty Bank stands at 30,250-30,500. A big move can be seen if it trades above the mark of 30,500.
Support Zone on Nifty and Nifty Bank lies between 11,570-11,600 and 30,250-30,400.
For Existing Long Positions:
Nifty Intraday and Closing stop loss 11,570.
Nifty Bank Intraday 30,250 and Closing stop loss 30,400.
For Existing short positions:
Nifty Intraday and Closing stop loss already triggered.
Nifty Bank Intraday and Closing stop loss already triggered.
For New Positions:
Buy Nifty with a stop loss of 11,570 and target 11,700, 11,725, 11,750.
Sell Nifty in 11,725-11,775 range with a stop loss of 11,800 and target 11,700, 11,650.
Buy Nifty Bank with a stop loss of 30,250 and target 30,600, 30,800.
The put-call ratio (PCR) stands at 1.49 and the volatility index (VIX) is 17.18.
Sectors:
Positive: Metals, NBFC
Enter F&O Ban: IDBI, Reliance Power
Exit Ban: Nil
Already in Ban: Adani Power
Stock of the Day:
Sell Cipla Cash: Stop loss 535 and target 520, 510. USFDA inspection report on Maharashtra plant.
Aaj Ka Hero:
Buy Tata Steel Cash: Stop loss 515 and target 530, 535. Metals looking strong.
IPO Analysis:
Rail Vikas Nigam Ltd. (RVNL): Apply in IPO for listing gains in the retail category. 15-20% listing gains possible.
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