Anil Singhvi’s Strategy February 13: Market is Neutral; Exit Sun Pharma Futures at 455-460 range
Amid positive global market, neutral futures and options (F&O) and domestic institutional investors (DIIs), negative foreign institutional investors (FII) and cautious sentiment cues, the short-term of the Indian market will continue to be neutral on Wednesday, February 13, 2019.
Amid positive global market, neutral futures and options (F&O) and domestic institutional investors (DIIs), negative foreign institutional investors (FII) and cautious sentiment cues, the short-term of the Indian market will continue to be neutral on Wednesday, February 13, 2019. Earlier on Tuesday, February 12, 2019, the domestic stocks closed with losses for the third session in a row even as global cues were positive.
The S&P BSE Sensex declined 241.41 points, or 0.66%, to end at 36,153.62 while Nifty 50 was down by 57.40 points, or 0.53%, to settle at 10,831.40. Similarly, Nifty Bank tanked 217.05 points, or 0.80% and closed at 27,010.75.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 13:
10,800 and 27,000 are going to be the deciding levels on Nifty and Bank Nifty.
The small trading range on Nifty stands at 10,800-10,850 while the medium and extreme ranges lie between 10,750-10,900 and 10,700-10,925.
The small trading range on Bank Nifty stands at 27,000-27,150 while the medium and extreme ranges lie between 26,900-27,250 and 26,800-27,300.
For Existing Long Positions:
Stop loss already triggered in Nifty and Bank Nifty below 10,900 and 27,150 respectively.
For Existing short positions:
Nifty stop loss 10,930 and target 10,800, 10,750.
Bank Nifty stop loss 27,200 and target 26,900, 26,800.
For New Positions:
Sell Nifty in 10,875-10,925 range with a stop loss of 10,950 and target 10,825, 10,800.
Buy Nifty near 10,800 with a stop loss of 10,750 and target 10,850, 10,875.
Sell Bank Nifty in 27,150-27,250 range with a stop loss of 27,300 and target 27,050, 27,000.
Buy Bank Nifty near 27,000 with a stop loss of 26,900 and target 27,150, 27,200.
The put-call ratio (PCR) stands at 1.35 and the volatility index (VIX) is 15.75.
Enters or out F&O Ban: Nil
6 Already in Ban: IDBI, DHFL, Jet Airways, Reliance Capital, Reliance Power and Adani Enterprises.
Coal India: Expected good results, sell if it goes up by 2-3%.
Stock of the Day:
Buy Bata Futures: Stop loss 1190 and target 1210, 1220, 1250. Super operational results, excellent margins and volumes.
Aaj Ka Hero:
Exit Sun Pharma Futures at 455-460 range. Margins looking strong due to forex gains. Aggressive traders can short near 470 with stop loss 475 and target 440.