Anil Singhvi’s Strategy April 8: Market Trend is Positive; Buy Tata Power Futures with stop loss 71.25

Positive foreign institutional investors (FIIs) and Sentiments, neutral global outlook and futures & options (F&O) and negative domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian stock market will be positive today, April 8, 2019. 

Earlier on Friday, April 5, 2019, the share market bounced back after sliding in past two trading sessions. The S&P BSE Sensex rose 177.51 points, or 0.46 per cent, to close 38,862.23. The Nifty 50 climbed 67.95 points, or 0.59 per cent, to 11,665.95 and Nifty Bank went 179.75 points, or 0.60 per cent, up to close at 30,084.65. 

See Anil Singhvi's tweet below:

#MarketStrategy | हफ्ते के शुरुआती कारोबारी दिन #Nifty और #BankNifty पर जानिए अनिल सिंघवी की दमदार स्ट्रैटेजी।@AnilSinghviZEE pic.twitter.com/bLa0geezie

— Zee Business (@ZeeBusiness) April 8, 2019

Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 8:
11,650 and 30,000 are going to be the deciding level on Nifty and Bank Nifty respectively. 
The small day range for trading on Nifty stands at 11,625-11,700 while the medium and bigger ranges lie between 11,600-11,750 and 11,550-11,800 respectively. 
The small day range for trading on Bank Nifty stands at 30,000-30,200 while the medium and the bigger ranges lie between 29,900-30,325 and 29,850-30,425 respectively. 
 The support zone on the two indices, Nifty and Bank Nifty, lies between 11,600-11,625 and 29,850-29,900. 

For Existing Long Positions:
Nifty Intraday and Closing stop loss 11,600 and target 11,725, 11,750. 
Bank Nifty Intraday and Closing stop loss 29,900 and target 30,250, 30,325, 30,425. 

For Existing short positions:
Nifty Intraday stop loss 11,725 and Closing stop loss 11,775 and target 11625, 11600.
Bank Nifty Intraday stop loss 30,250 and Closing stop loss 30,350 target 30,000, 29,900, 29,850.

For New Positions:
Buy Nifty in 11,600-11,625 range with a stop loss of 11,550 and target 11,675, 11,700, 11,725. 
Sell Nifty in 10,725-10,750 range with a stop loss of 11,775 and target 11,700, 11,675. 

Buy Bank Nifty in 29,900-30,000 range with a stop loss of 29,800 and target 30,100, 30,150, 30,250. 
Sell Bank Nifty in 30,175-30,325 range with a stop loss of 30,450 and target 30,050. 

The put-call ratio (PCR) stands at 1.61 and the volatility index (VIX) is 18.39.

Enter F&O Ban: DHFL
4 Already in Ban: Adani Power, IDBI, Jet Airways, Reliance Power

Stock of the Day:
Deal 1:
NIIT Tech – Barings: Neutral for NIIT Tech, profit booking expected in NIIT Ltd at higher levels. 
NIIT Ltd: Profit book in the range of 98-102, and stop loss 94
NIIT Tech Cash: Range for 1325-1355. 

Deal 2:
Indiabulls Housing– Lakshmi Vilas Bank
Sell IB Hsg Futures: If opens in the range of 940-960. Stop loss 970 and target 925, 905, 885. 
If opens below 880: Stop loss 910and target 865, 850. 

Aaj ka Hero:
Buy Tata Power Futures: Stop loss 71.25 and target 75, 77, 79. CERC decision on tariff hike may come today