Anil Singhvi’s Strategy July 25: Buy Bharti Infratel futures with Stop Loss 260; Sell IDFC First Bank Futures with Stop Loss 38
Earlier on Wednesday, July 24, 2019, benchmark domestic indices closed with losses amid mixed cues from global equity markets.
Amid positive domestic institutional investors (DIIs) and global markets, neutral futures and options (F&O), negative foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the domestic Indian markets will be Negative on Thursday, July 25, 2019.
Earlier on Wednesday, July 24, 2019, benchmark domestic indices closed with losses amid mixed cues from global equity markets. Sensex at Bombay Stock Exchange logged a modest loss of 135.09 points or 0.36% to settle at 37,847.65. Nifty at National Stock Exchange also slipped 59.75 points or 0.53% to end at 11,271.30 while Bank Nifty was 175.85 points or 0.60% down and settled at 28,952.25.
Besides, the International Monetary Fund (IMF) has cut India’s growth forecast for 2019-20 to 7% from its forecast in April of 7.3% on poor demand conditions.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 25:
11,300 and 29,000 are going to be the deciding levels on Nifty and Bank Nifty respectively.
Small day range for trading on Nifty stands at 11,225-11,325 while the medium and bigger ranges lie between 11,200-11,350 and 11,100-11,400 respectively.
Small day range for trading on Nifty stands at 28,850-29,100 while the medium-range resides at 28,500-29,300.
PCR near oversold, some short covering expected.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,225.
Bank Nifty intraday and closing stop loss 28,850.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,350.
Bank Nifty intraday stop loss 29,125 and closing stop loss 29,300.
— Zee Business (@ZeeBusiness) July 25, 2019
For New Positions:
Buy Nifty with a stop loss of 11,225 and target 11,300, 11,325, 11,350.
Sell Nifty in 11,325-11,350 range with a stop loss of 11,400 and target 11,300, 11,275.
Buy Bank Nifty with a stop loss of 28,850 and target 29,125, 29,200, 29,275.
Sell Bank Nifty in 29,200-29,275 range with a stop loss of 29,350 and target 29,125, 29,075, 28,950.
The put-call ratio (PCR) stands at 0.96 and the volatility index (VIX) is 12.76.
2 already in F&O Ban: Dish TV, IDBI
Result Analysis: Shriram Transport Futures: Weak Results but support at 885, 965 higher level. Stock may recover after a gap down opening. Wait for management concall.
Buy Bharti Infratel Futures: Stop loss 260 and target 270.
Stock of the Day: Sell IDFC First Bank Futures: Stop loss 38 and target 35.50, 34. Weak asset quality and heavy provisioning.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.