Anil Singhvi’s Strategy August 27: Bank & Cement Sectors are Positive today; Buy Bank Nifty Futures with Stop Loss 27,875
On account of positive global cues, DIIs, F&O and neutral FIIs the short-term trend of the domestic Indian markets will be neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive global market, domestic institutional investors (DIIs), futures and options (F&O) and sentiments and neutral foreign institutional investors (FIIs) cue the short-term trend of the domestic Indian markets will be neutral on Tuesday, August 27, 2019.
Earlier on Monday, August 26, 2019, Indian stock market, Sensex and Nifty, had its best day in three months (since May 20, 2019) as investors sentiment was boosted through the number of measures that were announced by the government to revive growth. After a volatile trading session throughout the day, Sensex climbed 792.96 points or 2.16% to 37,494.12. The broader Nifty settled 228.50 points or 2.11% up at 11,057.85 while Bank Nifty gained 992.70 points or 3.68% to close at 27,951.35. Adani ports (up 5.81%), HDFC (up 5.20%), Yes Bank (up 5.06%) and Bajaj Finance (up 5.06%) were the top gainers of the day.
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The rally, in share markets, came after the government on Friday, August 23, 2019, rolled back the enhanced surcharge on foreign portfolio investors and unveiled a slew of measures to boost the economy.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 27:
The small day range for trading on Nifty stands at 11,000-11,150 and the medium range resides at 10,925-11,175.
The small and medium day range for trading on Bank Nifty lies between 27,950-28,200 and 27,700-28,350 while the bigger range stands at 27,500-28,500.
Higher zone on the two indices, Nifty and Bank Nifty, lies between 11,150-11,175 and 28,350-28,500 respectively.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,000.
Bank Nifty intraday and closing stop loss 27,650.
For Existing Short Positions:
Nifty intraday stop loss 11,200 and closing stop loss 11,075.
Bank Nifty intraday and closing stop loss 28,200.
For New Positions:
Buy Nifty with a stop loss of 11,000 ad target 11,100, 11,150, 11,075.
Sell Nifty in 11,150-11,175 range with a stop loss of 11,200 and target 11,100, 11,175.
Buy Bank Nifty with a stop loss of 27,900 and target 28,200, 28,350.
Sell Bank Nifty in 28,400-28,500 range with a stop loss of 28,600 and target 28,200.
Positive: Banks and Cements.
The put-call ratio (PCR) is at 1.20 and the volatility index (VIX) is 16.65.
Out of F&O Ban: DHFL
Already in Ban: IDBI
Stock of the Day:
Buy Bank Nifty Futures: Stop loss 27,875 and target 28,050, 28,200, 28,350.
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