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Anil Singhvi’s Strategy April 12: 11,600 & 29,800 are deciding levels on Nifty & Bank Nifty; Jet Airways stock to remain volatile in 240-275 range
The small and medium day range for trading on Bank Nifty lies between the mark of 29,700-29,900 and 29650-30050 respectively.
Neutral global markets, foreign institutional investors (FIIs), futures & options (F&O) and domestic institutional investors (DIIs) and cautious sentiments cues suggest that the short-term trend of the domestic stock markets will be neutral on Friday, April 12, 2019.
Yesterday, on April 11, 2019, the benchmark domestic indices closed with small gains amid mixed global market. The Sensex at the Bombay Stock Exchange gained 21.66 points (0.06%) to trade at 38,607.01 and Nifty 50 went up 12.40 points (0.11%) to 11,596.70. However, Bank Nifty lost 17.40 points (0.06%) to close at 29,786.10.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 12:
11,600 and 29,800 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small and medium day range for trading on Nifty lies between the mark of 11,550-11,675 and 11,500-11,715 respectively.
The small and medium day range for trading on Bank Nifty lies between the mark of 29,700-29,900 and 29650-30050 respectively. The bigger trading range stands at 29,500-30,150.
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For Existing Long Positions:
Nifty Intraday stop loss 11,550
For Existing short positions:
Nifty Intraday and Closing stop loss 11,700 and target 11,550, 11,500.
Bank Nifty Intraday and Closing stop loss 30,000 and target 29,650, 29,550.
For New Positions:
Buy Nifty near 11,525-11,550 range with a stop loss of 11,500 and target 11,600, 11,650.
Sell Nifty in 11,650-11,700 range with a stop loss of 11,725 and target 11,600.
Buy Bank Nifty near 29,700 with a stop loss of 29,650 and target 29,900, 30,000.
Sell Bank Nifty in 29,850-30,000 range with a stop loss of 30,100 and target 29,700, 29,650.
The put-call ratio (PCR) stands at 1.47 and the volatility index (VIX) is 20.96.
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Enters F&O Ban: DHFL
Exit Ban: Adani Power
6 Already in Ban: IDBI, Jet Airways, Reliance Power, DLF, PC Jewelers, Wockhardt.
Stock of the Day:
Jet Airways Cash: Stock to remain volatile in the 240-275 range. International flights halted, But Etihad is interested
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