Anil Singhvi’s Strategy April 30: Market Trend and Sentiment are Positive; Sell Reliance Capital with Stop Loss 146
Amid positive Domestic Institutional Investors (DIIs) and global outlook, neutral foreign institutional investors (FII) and Futures and Options (F&O) cues, the short-term trend of the Indian market will be positive on Tuesday, April 30, 2019.
Amid positive Domestic Institutional Investors (DIIs) and global outlook, neutral foreign institutional investors (FII) and Futures and Options (F&O) cues, the short-term trend of the Indian market will be positive on Tuesday, April 30, 2019, and sentiments thereof are also positive going forward.
Earlier on Friday, April 26, 2019, the domestic markets logged gains and closed in green. On the day, the barometer index, S&P BSE Sensex, gained 336.47 points, or 0.87 per cent, and closed at 39,067.33. The Nifty 50 closed 112.85 points, or 0.97 per cent, up at 11,754.65 and the Bank Nifty rose 452.15 points, or 1.53 per cent, to settle above the mark of 30,000 at 30,013.50.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 30:
The small and medium day range for trading on Nifty lies between the mark of 11,725-11,800 and 11,650-11,850
The small and medium day range for trading on Bank Nifty lies between the mark of 29,900-30,150 and 29,800-30,250. The extreme range stands at 29,700-30,350.
For New Positions:
Buy Nifty in 11,700-11,725 range with a stop loss of 11,650 and target 11,800, 11,850.
Sell Nifty near 11,850 with a stop loss of 11,900 and target 11,800.
Buy Bank Nifty with a stop loss of 29,850 and target 30,150, 30,225, 30,350.
Sell Bank Nifty in 30,350-30,450 range with a stop loss of 30,550 and target 30,250.
The put-call ratio (PCR) stands at 1.63 and the volatility index (VIX) is 21.72.
In F&O Ban: Nil
L&T Finance Futures: Week Results, loan growth negative. Stock trading range 135-145. ILFS & Supertech exposure is a big concern, below 135 it can fall up to 128.
Stock of the Day:
Sell Yes Bank Futures: Stop loss 242 and target 222, 215. If trades below 213 then target 200 and stop loss 220.
Aaj Ka Hero:
Sell Reliance Capital Cash: Stop loss 146 and target 133, 127, 122. If trades below 120 then stop loss 130, and 100.
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