Anil Singhvi’s Strategy April 25: M&M Finance Futures is Stock of the Day; Buy Biocon Futures with stop loss 613
The S&P BSE Sensex jumped 489.80 points or 1.27 per cent to close above the mark of 39,000 level at 39,054.68.
Positive foreign institutional investors (FIIs), neutral global market, futures & options (F&O) and sentiment, and negative domestic institutional investor (DIIs) cues suggest that the short-term trend of the domestic stock markets will be neutral on Thursday, April 25, 2019.
Earlier on Wednesday 24, 2018, the domestic markets snapped the three days of losing and closed in green. The S&P BSE Sensex jumped 489.80 points or 1.27 per cent to close above the mark of 39,000 level at 39,054.68. The Nifty 50 gained 150.20 points or 1.30 per cent to settle at 11,726.15. Bank Nifty went up by 381.10 points or 1.29 per cent to end at 29,860.80.
However, the rupee weakened against the dollar. The rupee depreciated 25 paise to 69 rupees and 87 paise against the US dollar.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 25:
11,700 and 29,900 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 11,650-11,750 and 11,600-11,800 while the bigger range stands at 11,575-11,850.
The small and medium day range for trading on Bank Nifty lies between the mark of 29,700-29,900 and 29,650-30,000 while the bigger range stands at 29,450-30,100.
For Existing Long Positions:
Nifty Intraday stop loss 11,650 and Closing stop loss 11,575.
Bank Nifty Intraday stop loss 29,650 and Closing stop loss 29,500.
For Existing Short positions:
Nifty Intraday and Closing stop loss 11,750
Bank Nifty Intraday and Closing stop loss 30,000
For New Positions:
Buy Nifty in 11,650-11,700 range with a stop loss of 11,600 and target 11,735, 11,800, 11,850.
Sell Nifty in 11,775-11,825 range with a stop loss of 11,875 and target 11,725, 11,700.
Buy Bank Nifty in 29,650-29,700 range with a stop loss of 29,400 and target 29,650, 29,800, 29,900.
Sell Bank Nifty in 30,000-30,100 range with a stop loss of 30,200 and target 29,900, 29,800.
The put-call ratio (PCR) stands at 1.65 and the volatility index (VIX) is 23.71.
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Enters F&O Ban: Nil
Exit Ban: PC Jeweller
6 Already in Ban: IDBI, Vodafone Idea, Jet Airways, DLF, Adani Power, Reliance Power.
Sell Bharti Infratel Futures: Stop loss 307 and target 295, 290. Weak operational results.
Stock of the Day:
Buy M&M Finance Futures: Stop loss 430 and target 445,450. Strong results, Improvement in asset quality.
Aaj Ka Hero:
Buy Biocon Futures: Stop loss 613 and target 625, 630. Strong Syngene results, Biocon to declare results and announce a bonus.
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