Anil Singhvi’s Strategy April 22: Market Trend is Positive; Buy Syngene with Stop Loss 270

Positive foreign institutional investors (FIIs) and sentiments, neutral global market, negative domestic institutional investors (DIIs) and cautious futures & options (F&O) cues suggest that the short-term trend of the domestic stock markets will be positive on Monday, April 22, 2019.

Earlier on Thursday, April 18, 2019, the domestic market snapped gains of the past four trading sessions and closed in a red. On the day, BSE Sensex lost 135.36 points, 0.34 per cent, to end at 39,140.28. While, Nifty 50 was down by 34.35 points, 0.29 per cent, to settle at 11,752.80 and Bank Nifty went down 307.95 points, 1.01 per cent, to 30,223.40. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 22:
The small and medium day range for trading on Nifty lies between 11,700-11,800 and 11,650-11,850 respectively. 

The small and medium day range for trading on Bank Nifty lies between 30,100-30,400 and 30,000-30,500. 

Support zone on the two indexes, Nifty and Nifty Bank, lies between 11,650-11,700 and 30,000-30,150 respectively.

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For Existing Long Positions:
Nifty Intraday and Closing stop loss 11,700. 
Bank Nifty Intraday stop loss triggered and Closing stop loss 30,100. 
For Existing Short positions:
Nifty Intraday 11,860 and Closing stop loss 11,800. 
Bank Nifty Intraday and Closing stop loss 30,550. 

For New Positions:
Buy Nifty near 11,700 with a stop loss of 11,650 and target 11,750, 11,800. 

Sell Nifty in 11,800-11,850 range with a stop loss of 11,900 and target 11,800. 

Buy Bank Nifty in 30,050-30,150 range with a stop loss of 30,000 and target 30,225, 30,350, 30,425. 

Sell Bank Nifty in 30,425-30,550 range with a stop loss of 30,700 and target 30,350, 30,225. 

The put-call ratio (PCR) stands at 1.71 and the volatility index (VIX) is 22.73.

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Enters F&O Ban: Reliance Capital
2 Exit Ban: Jet Airways, Reliance Power
3 Already in Ban: IDBI, PC Jewellers, Vodafone Idea
Jet Airways: Problems still unsolved, Out of F&O ban today. Stock to remain volatile, trade very cautiously. 

Result Analysis:
Reliance Industries Futures: Results in-line, Book profit if opens up in the range of 1390-1410. Can short with a strict stop loss of 1425 and target 1355. 
Buy HDFC Bank Cash: Stop loss 2285 and target 2335, 2370. Strong results as expected. 

Stock of the Day:
Buy Syngene: Stop loss 575 and target 590, 600. The board meeting on April 24 to consider a bonus issue. 

Aaj Ka Hero:
Sell HPCL Cash: Stop loss 270 and target 258, 252. Higher crude and fear of sanctions on Iran by the US today.