Anil Singhvi’s Strategy February 19: Market is Negative; Buy Page Industries Futures with Stop Loss 21,650
Positive domestic institutional investors (DIIs), neutral global market and futures and options (F&O), negative foreign institutional investors (FII) and cautious sentiments suggest that the short-term trend of the Indian market will continue to be negative today.
Positive domestic institutional investors (DIIs), neutral global market and futures and options (F&O), negative foreign institutional investors (FII) and cautious sentiments suggest that the short-term trend of the Indian market will continue to be negative on Tuesday, February 19, 2019.
Earlier on Monday, February 18, 2019, the domestic stocks market closed with losses for the eighth session in a row. Both stocks lost around 0.80%. The BSE Sensex crashed 210.51 points, 0.87%, to close at 35,498.44 while Nifty 50 at the National Stock Exchange (NSE) was down by 83.45 points, 0.78%, to end at 10,640.95. Nifty Bank declined 140 points, 0.52%, to settle at 26,654.25.
Bharti Infratel, ONGC, Zee Entertainment and Tata Motors were the top gainers of the day while Indiabulls Housing Finance, TCA and Reliance Industries were the largest losers.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 19:
10,600-10,700 and 26,600 and 26,800 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small and medium trading range on Nifty lies between 10,625-10,700 and 10,600-10,725. The extreme range stands at 10,525-10,775.
The small and medium trading range on Bank Nifty lies between 26,600-26,800 and 26,500-26,900. The extreme range stands at 26,400-27,050.
For Existing Long Positions:
Stop loss already triggered in Nifty and Bank Nifty
For Existing short positions:
Nifty Intraday stop loss 10,725 and closing stop loss 10,750. Target 10,600, 10,550.
Bank Nifty Intraday stop loss 26,850 and closing stop loss 27,000. Target 26,500, 26,450.
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For New Positions:
Sell Nifty in 10,700-10,750 range with a stop loss of 10,800 and target 10,650, 10,625.
Buy Nifty near 10,550 with a stop loss of 10,500 and target 10,600, 10,625.
Sell Bank Nifty in 26,850-26,950 range with a stop loss of 27,050 and target 26,650, 26,550.
Buy Bank Nifty near 26,500 with a stop loss of 26,400 and target 26,600, 26,800.
The put-call ratio (PCR) stands at 1.13 and the volatility index (VIX) is up by 9% at 18.
Total 8 stocks in F&O Ban
Enter Ban: IDBI, Reliance Infrastructure
Out of Ban: Nil
6 Already in Ban: Jet Airways, Reliance Power, Adani Enterprises, Jain irrigation, CG Power, PC Jewellers
Stock of the Day: Buy Page Industries Futures: Stop loss 21,650 and target 22,350, 22,650, 22,900. The company says to follow proper accounting standard.
Aaj Ka Hero: Ambuja Cement Futures High-risk call: Buy Near 190-193 with a stop loss 189 and target 200-205. Stock oversold, corrected from 235 to 195. Weak results but short covering expected
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