Anil Singhvi’s Strategy July 18: Market Trend & Sentiment are Positive; Buy NMDC Futures with Stop Loss 113
On account of positive DII, FII, F&O and global cues, the short-term tremd of the Indian markets are expected to be positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive sentiment and neutral domestic institutional investors (DIIs), global markets, foreign institutional investors (FIIs) and futures and options (F&O) cues, the short-term trend of the domestic Indian markets will be Positive on Thursday, July 18, 2019.
Earlier, the benchmarks domestic indices on Wednesday, July 17, 2019, logged gains for the third session in a row even as cues from global equity markets were negative. Sensex at Bombay Stock Exchange (BSE) climbed 84.60 points or 0.22 per cent to end at 39,215.64. Nifty at National Stock Exchange (NSE) also surged 24.90 points or 0.21 per cent to settle at 11,687.50. Bank Nifty rose 164.70 points or 0.54 per cent to close at 30,735.50.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) July 18, 2019
Indiabulls Housing Finance (up 2.75 per cent), Zee Entertainment (up 2.60 per cent) and UPL Limited (up 2.51 per cent) were the major gainers of the day.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 18:
The small and medium day range for trading on Nifty lies between 11,650-11,700 and 11,625-11,725 while the bigger range stands at 11,575-11,750.
The small and medium day range for trading on Bank Nifty lies between 30,600-30,800 and 30,550-30,850 while the bigger range stands at 30,425-30,950.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,575.
Bank Nifty intraday and closing stop loss 30,550.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,750.
Bank Nifty intraday and closing stop loss 30,800.
For New Positions:
Buy Nifty in 11,625-11,650 range with a stop loss of 11,575 and target 11,700, 11,725, 11,750.
Sell Nifty near 11,750 with a stop loss of 11,800 and target 11,700.
Buy Bank Nifty in 30,550-30,600 range with a stop loss of 30,425 and target 30,725, 30,800, 30,850.
Sell Bank Nifty in 30,900-30,950 range with a stop loss of 31,050 and target 30,800, 30,750.
The put-call ratio (PCR) stands at 1.34 and the volatility index (VIX) is 11.80 very low.
Total 5 in F&O Ban
2 Enter Ban: DHFL, Tata Elxsi.
Out of Ban: Nil
3 Already in F&O Ban: IDBI, Reliance Capital, Reliance Infrastructure
Sell Yes Bank Futures: Weak asset quality. 88-92 is the last support zone. Below 88, can fall till 82, 75.
Wipro Futures: Weak operating results but buyback may give support at lower levels. Trading range 250-265 and can be bought near 245 with a stop loss of 240.
Stock of the Day:
Sell Mindtree Futures: Stop loss 762 and target 720, 700, 685. Shocking results post change of management.
Aaj ka Hero:
Buy NMDC Futures: Stop loss 113 and target 117, 120. Karnataka HC decision in favour of Donamalai Mine of NMDC.