Anil Singhvis Strategy August 26: Auto, Banks & NBFC are Positive; Metal sector is Negative today
On account of positive DIIs, neutral F&O, negative FII cues, the short-term trend of the Indian market will remain negative, says Zee Business Managing Editor Anil Singhvi.
Amid positive Domestic Institutional Investors (DIIs), neutral futures and options (F&O), negative global outlook and foreign institutional investors (FII) cues, the short-term trend of the Indian market will remain negative on Monday, August 26, 2019, while sentiment is Cautious.
Earlier on Friday, August 23, 2019, the domestic indices ended in the green. Sensex at the Bombay Stock Exchange gained 228.23 points or 0.63% and closed at 36,701.16. The Nifty gained 88 points or 0.82% to settle at 10,829.35 while Bank Nifty lost 75.55 points or 0.28% to close at 26,958.65.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 26:
10,925 and 27,200 are the deciding levels on Nifty and Bank Nifty respectively.
The small day range for trading on Nifty stands at 10,825-10,925 while the medium and bigger range lies between 10,725-11,000 and 10,650-11,075 respectively.
The small day range for trading on Bank Nifty stands at 26,950-27,200 while the medium and bigger range lies between 26,700-27,500 and 26,550-27,650 respectively.
Next important support zone on the two indices, Nifty and Bank Nifty, stands at 10,650-10,700 and 26,550-26,700 respectively.
Higher Zone on the two indices lies between 11,000-11,075 and 27,650-27,850 respectively.
For Existing Long Positions:
Nifty and Bank Nifty intraday and closing stop loss already triggered.
For Existing Short Positions:
Nifty intraday and a closing stop loss of 10,925.
Bank Nifty intraday and a closing stop loss of 27,500.
For New Positions:
Buy Nifty with a stop loss of 10,800 and target 10,925, 11,000, 11,075.
Sell Nifty in 11,000-11 075 range with a stop loss of 11,150 and target 10,925.
Buy Bank Nifty with a stop loss of 26,900 and target 27,200, 27,500, 27,650.
Sell Bank Nifty in 27,650-27,750 range with a stop loss of 27,850 and target 27,500, 27,200.
Sectors:
Positive: Auto, Banks, NBFC
Negative: Metals
2 stocks in F&O Ban: IDBI, DHFL
Stock of the Day:
Buy HDFC Ltd. Futures: Stop loss 2020 and target 2070, 2100, 2120.
Buy Maruti Futures: Stop loss 6100 and target 6350, 6450.
Aaj Ka Hero:
Buy PNB Futures: Stop loss 62 and target 65, 66.
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