Amid positive domestic institutional investors (DIIs), neutral futures & options (F&O) and negative global markets, foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Thursday, February 27, 2020.

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Domestic shares declined for the fourth straight session on Wednesday, February 26, 2020, amid weak global cues. The Nifty ended below the 11,700-mark. The spread of the coronavirus has rattled investors across the globe who fear new outbreaks will push down global demand.

The S&P BSE Sensex, fell 392.24 points or 0.97% at 39,888.96, its lowest closing level since 3 February 2020. The Nifty 50 index declined 119.40 points or 1.01% at 11,678.50, its lowest closing level since 1 February 2020. Nifty Bank lost 125.85 points, or 0.41%, to settle at 30,306.85.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 27:

Budget day lows Nifty 11,500-11,625 and Bank Nifty 29,625-29,825 are next strong support zone.

Strong selling zone on Nifty is 11,775-11,825 and Bank Nifty is 30,600-30,700.  

The small day range for trading on Nifty is 11,625-11,775, while the medium and bigger ranges are 11,600-11,800 and 11,500-11,825 respectively.

The small day range for trading on Bank Nifty is 30,150-30,500, while the medium and bigger ranges are 30,000-30,600 and 29,825-30,700 respectively.   

For Existing Long Positions:

Nifty intraday and closing stop loss 11,600

Bank Nifty intraday and closing stop loss 30,100.

For Existing Short Positions:

Nifty intraday and closing stop loss 11,830.

Bank Nifty intraday and closing stop loss 30,600.

For New Positions:

Sell Nifty with a stop loss of 11,830 and target 11,625, 11,600, 11,525.

Buy Nifty in 11600-11625 range, for aggressive traders, with strict stop loss 11,575 and target 11,675, 11,700, 11,775.

Sell Bank Nifty with a stop loss of 30,600 and target 30,150, 30,000, 29,850, 29,750.

Buy Bank Nifty in 30,000-30,050 range, for aggressive traders, with strict stop loss 29,950 and target 30,000, 30,100, 30,250.

Put-Call Ratio (PCR) is 1.01. The volatility index (VIX) shot up by 8% 18.26.

Already in F&O Ban: Yes Bank

Sectors:

Negative: Metals, Auto, Aviation and Banks.

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Stock of the Day:

Sell Bank Nifty Spot levels: Stop loss 30,600 and target 30,150, 30,000, 29,850.