Anil Singhvi’s Strategy July 17: Market Trend is Neutral; Sell Tata Elxsi Futures with Stop Loss 825
On account of positive DII, neutral global cues, F&O and FIIs, the short-term trend of the Indian stock market is expected to remain neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive domestic institutional investors (DIIs) and neutral global markets, foreign institutional investors (FIIs) and futures and options (F&O) cues, the short-term trend of the domestic Indian markets will be neutral on Wednesday, July 17, 2019, while sentiment is Positive.
Earlier on Tuesday, July 16, 2019, the benchmark domestic indices closed with gains amid positive cues from global markets. Sensex regained 39,000 mark and Nifty reclaimed 11,600 level. Sensex at Bombay Stock Exchange (BSE) climbed 234.33 points or 0.60 per cent to end at 39,131.04. Nifty at National Stock Exchange (NSE) also surged 74.25 points or 0.64 per cent to settle at 11,662.60 while Bank Nifty gained 124.85 points or 0.41 per cent and closed at 30,570.80.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) July 17, 2019
Yes Bank (up by 14 per cent) and Tata Motors (up by 5.84 per cent) were the top gainers of the day while TCS (down by 1.67 per cent) and Mahindra & Mahindra (M&M) limited (down by 1.32 per cent) were the top losers.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 17:
The small and medium day range for trading on Nifty lies between 11,625-11,700 and 11,600-11,725 respectively. The bigger range stands at 11,575-11,750.
The small and medium day range for trading on Bank Nifty lies between 30,500-30,650 and 30,425-30,700 respectively. The bigger range stands at 30,350-30,800.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,575.
Bank Nifty intraday and closing stop loss 30,425.
For Existing Short Positions:
Nifty intraday and closing stop loss already triggered.
Bank Nifty intraday and closing stop loss 30,700.
For New Positions:
Buy Nifty in 11,625-11,640 range with a stop loss of 11,575 and target 11,675,11,700, 11,725.
Sell Nifty in 11,725-11,750 range with a stop loss of 11,800 and target 11,700, 11,675.
Buy Bank Nifty in 30,325-30,425 range with a stop loss of 30,300 and target 30,550, 30,600, 30,700.
Sell Bank Nifty in 30,700-30,800 range with a stop loss of 30,900 and target 30,600, 30,550.
The put-call ratio (PCR) stands at 1.34 and the volatility index (VIX) is 11.56 very low.
Out of F&O Ban: DHFL
3 Already in F&O Ban: Reliance Capital, IDBI, Reliance Infrastructure.
Stock of the Day:
Sell Tata Elxsi Futures: Stop loss 825 and target 800, 785. Weak results expected today.
Aaj ka Hero:
Sell Colgate Futures: Stop loss 1145 and target 1110, 1095. Weak results expected tomorrow.