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Business News » India News

Anil Singhvi’s Strategy April 23: Market Trend is Neutral today; Buy Biocon with Stop Loss 600

Neutral foreign institutional investors (FIIs), global market, domestic institutional investors (DIIs) and cautious futures & options (F&O) and sentiments cues suggest that the short-term trend of the domestic stock markets will be neutral on Tuesday, April 23, 2019.

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Anil Singhvi’s Strategy April 23: Market Trend is Neutral today; Buy Biocon with Stop Loss 600
The Sensex on the BSE declined 495.10 points or 1.26 per cent to close below 39,000-mark at 38,645.18. Image source: Zee Business
Written By: ZeeBiz WebTeam
Updated: Tue, Apr 23, 2019
09:16 am
ZeeBiz WebDesk
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Neutral foreign institutional investors (FIIs), global market, domestic institutional investors (DIIs) and cautious futures & options (F&O) and sentiments cues suggest that the short-term trend of the domestic stock markets will be neutral on Tuesday, April 23, 2019.

Earlier on Monday, April 22, 2019, Sensex and Nifty plunged more than one per cent. The Sensex at the Bombay Stock Exchange declined 495.10 points or 1.26 per cent to close below 39,000-mark at 38,645.18. The Nifty 50 also fell 158.35 points or 1.35 per cent to 11,594.45 and Bank Nifty crawled 535.45 points or 1.77 per cent to settle at 29,687.95. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 23:
11,600 is the deciding level on Nifty. 
The small and medium day range for trading on Nifty lies between 11,550-11,650 and 11,500-11,700 respectively. 
The small and medium day range for trading on Bank Nifty lies between 29,600-29,900 and 29,500-30,000 respectively.

Watch Zee Business Live here:

For Existing Long Positions:

Nifty n Bank Nifty Intraday and Closing stop loss already triggered. 

For Existing short positions:
Nifty Intraday 11,700 and Closing stop loss 11,750. 
Bank Nifty Intraday and Closing stop loss 30,000. 

Watch this Zee Business video here:

For New Positions:
Buy Nifty near 11,550 with stop loss of 11,500 and target 11,600, 11,650, 11,700. 
Sell Nifty near 11700 with stop loss of 11,750 and target 11,650, 11,600. 
Buy Bank Nifty with stop loss of 29,500 and target 29,800, 29,900, 30,000. 
Sell Bank Nifty in 29,900-30,000 range with stop loss of 30,100 and target 29,800, 29,700. 
The put-call ratio (PCR) stands at 1.36 and the volatility index (VIX) is 24.05.
Enters F&O Ban: Jet Airways, DLF, Adani Power
Exit Ban: Nil
4 Already in Ban: IDBI, PC Jeweller, Vodafone Idea, Reliance Capital

Stock of the Day:
Buy Biocon: Stop loss 600 and target 619, 624. Board will meet on April 24 to consider a bonus issue. 
Sell HPCL Cash: Stop loss 256 and target 246, 242. Higher crude and sanctions on Iran by the US. 

Aaj Ka Hero:
Buy Tejas Network: Stop loss 184 and target 192, 195. Strong operational results.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
MarketsBSENSEAnil Singhvi
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