Anil Singhvi’s Strategy April 3: FMCG & Fertilizer sector are positive; Buy Marico Futures with Stop Loss 347
On positive FII, global market, neutral F&O and negative DIIs cues suggest that the short-term trend of the Indian indices will remain positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive global market, foreign institutional investors (FIIs) and sentiments, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stocks market will remain positive on Wednesday, April 3, 2019.
Earlier on Tuesday, April 2, 2019, the stock markets closed with modest gains where the barometer index, S&P BSE Sensex hit a fresh all-time high and closed above the mark of 39,000. Rising for the fourth straight day, the Sensex rose 184.78 points, or 0.48 per cent, to a record closing high of 39,056.65 and Nifty advanced 44.05 points, or 0.38 per cent to 11,713.20. At the forex market, the rupee jumped 40 paise, to 68.74, against the dollar. The Nifty Bank rose 27.75 points or 0.09 per cent to 30,354.25.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) April 3, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 3:
11,700 and 30,425 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small day range on Nifty stands at 11,675-11,760 while the medium and bigger range lies between 11,650-11,800 and 11,625-11,825.
The small day range on Nifty bank stands at 30,200-30,425 while the medium and bigger range lies between 30,150-30,500 and 30,050-30,650.
Support range on the two indices, Nifty and Nifty Bank, lies at the mark of 11,625-11,675 and 30,150-30,200.
For Existing Long Positions:
Nifty Intraday stop loss 11,650 and Closing stop loss 11,625.
Nifty Bank Intraday stop loss 30,150 and Closing stop loss 30,300.
For Existing short positions:
Nifty Intraday 11,740 and Closing stop loss triggered.
Nifty Bank Intraday 30500 and Closing stop loss 30,425.
For New Positions:
Buy Nifty with a stop loss of 11,650 and target 11,760, 11,800, 11,825.
Buy Bank Nifty with a stop loss of 30,150 and target 30,500, 30,650.
Sell Bank Nifty near 30, 650 with a stop loss of 30,700 and target 30,500, 30,200.
The put-call ratio (PCR) stands at 1.52 and the volatility index (VIX) is 18.08.
Positive: FMCG, Fertilizers
Negative: Oil Marketing companies, Aviation
Enter or Exit F&O Ban: Nil
3 Already in Ban: Adani Power, IDBI, Reliance Power
Stock of the Day:
Buy Marico Futures: Stop loss 347 and target 352, 356. Strong results expected due to lower raw material cost and better margins.
Sell Jet Airways Cash: Stop loss 272 and target 255, 245. Higher crude prices, 15 more planes grounded.
Aaj Ka Hero:
Buy Raymonds Futures: Stop loss 810 and target 835, 845, 855. Company to make a strategic business announcement
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