Anil Singhvi’s Strategy August 13: Sentiment is Cautious; Sell Bharti Airtel Futures with Stop Loss 375
On account of positive DIIs, neutral FIIs and F&O, the short-term trend of the domestic Indian markets will be Neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs) and futures and options (F&O) and negative global market cues, the short-term trend of the domestic Indian markets will be Neutral today, on August 13, 2019, while the sentiments are cautious.
Earlier on Friday, August 9, 2019, Equity benchmarks closed in Green for the consecutive second day. BSE Sensex gained 254.55 points, 0.68%, to close at 37,581.91. Nifty 50 at the NSE rose 77.20 points, 0.70%, to settle at 11,109.65 and Bank Nifty climbed 321.45 points, 1.14%, to 28,431.90.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 13:
11,100 and 28,500 are going to be the deciding levels on Nifty and Bank Nifty.
Small day range for trading on Nifty stands at 11,050-11,125 while the medium and bigger range lies between 11,000-11,175 and 10,950-11,200.
Small day range for trading on Bank Nifty stands at 28,250-28,500 while the medium and bigger range lies between 28,150-28,600 and 28,050-28,750.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,000
Bank Nifty intraday stop loss 28,200 and closing stop loss 28,000.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,200.
Bank Nifty intraday and closing stop loss 28,600.
For New Positions:
Sell Nifty with a stop loss of 11,200 and target 11,050, 11,000, 10,975.
Buy Nifty in 10,975-11,000 range with a stop loss of 10,950 and target 11,050, 11,075, 11,125.
Sell Bank Nifty with a stop loss of 28,600 and target 28,250, 28,150, 28,050.
Buy Bank Nifty in 28,000-28,050 range with a stop loss of 27,900 and target of 28,150, 28,250.
The put-call ratio (PCR) is 1.24 and the volatility index (VIX) is 15.85.
Short BHEL Futures: Stop loss 58 and target 55, 53. Worst ever performance, execution problems continued.
Short Century Textiles Futures: Stop loss 920 and target 890, 875. Poor operational performance.
Stock of the Day:
Sell Bharti Airtel Futures: Stop loss 375 and target 360, 355, 350. Increased competition is a big issue for the company.
Aaj Ka Hero:
Sell PVR Futures: Stop loss 1485 and target 1420, 1380. Increased competition is a big issue for premium business.