Anil Singhvis Strategy April 2: OMCs and Auto sector are Negative; Sell Eicher Motors Cash with Stop Loss 20,250
Amid positive FII and global sentiments, neutral F&O and negative DII suggests that short-term trend of the Indian indices will remain positive, says Zee Business Managing Editor Anil Singhvi .
Amid positive global market and foreign institutional investors (FIIs), neutral futures & options (F&O), negative domestic institutional investors (DIIs) and cautious sentiments cues, the short-term trend of the Indian stocks market will remain positive on Tuesday, April 2, 2019.
The domestic stocks, on Monday, April 1, 2019, closed with modest gains on steady buying demand. The S&P BSE Sensex gained 198.96 points, or 0.51%, to settle at 38,871.87 (the index hit crossed the record high of 39,000 for the first time). The Nifty 50 index rose 45.25 points, or 0.39%, to close at 11,669.15. However, Nifty Bank lost 100.30 points, or 0.33%, to end at 30,326.50.
See Anil Singhvi's tweet below:
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 2:
The small and medium day range on Nifty stands between 11,625-11,725 and 11,570-11,775 respectively.
The small and medium day range on Nifty Bank stands between 30,200-30,500 and 30,050-30,650.
Support zone on the two indexes, Nifty and Nifty Bank, lies between 11,570-11,625 and 30,050-30,200 respectively.
For Existing Long Positions:
Nifty Intraday and Closing stop loss 11,570.
Bank Nifty Intraday and Closing stop loss 30,000.
For Existing short positions:
Nifty Intraday 11,738 and Closing stop loss 11,700
Nifty Bank Intraday 30,500 and Closing stop loss 30,425.
For New Positions:
Buy Nifty in 11,625-11,650 range 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, 11,675.
Buy Nifty Bank near 30050 with a stop loss of 29,950 and target 30,200, 30,300.
Sell Nifty Bank near 30,500 with a stop loss of 30,650 and target 30,350, 30,200.
The put-call ratio (PCR) stands at 1.48 and the volatility index (VIX) is 18.
Sectors:
Positive: Metals, IT
Negative: Oil Marketing companies, Auto
Enter or Exit F&O Ban: Nil
3 Already in Ban: Adani Power, IDBI, Reliance Power
Stock of the Day:
Sell Eicher Motors Cash: Stop loss 20,250 and target 19,700, 19,500. Weak monthly sales numbers.
Aaj Ka Hero:
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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