Anil Singhvi’s Strategy July 26: Market Trend & Sentiment are Negative; Buy Hero Moto Cash with Stop Loss 2375
Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures and options (F&O) and negative sentiment cues, the short-term trend of the domestic Indian markets will be Negative today.
Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures and options (F&O) and negative sentiment cues, the short-term trend of the domestic Indian markets will be Negative on Friday, July 26, 2019.
Paring early gains in a volatile market, the benchmark domestic stock market on Thursday, July 25, 2019, closed almost flat even as cues from global stocks were positive. Falling for the sixth straight session, Sensex and Nifty, both, fell marginally. On the day, BSE Sensex slipped 16.67 points or 0.04% to settle at 37,830.98. Nifty ended down by 19.15 points or 0.17% at 11,252.15. However, Bank Nifty closed at 29,043.05 after moving up by 90.80 points or 0.31%.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 26:
Small day range for trading on Nifty stands at 11,225-11,275 while the medium and bigger ranges lie between 11,200-11,300 and 11,100-11,350 respectively.
Small day range for trading on Bank Nifty stands at 28,925-29,125 while the medium and bigger ranges lie between 28,850-29,250 and 28,500-29,350 respectively.
Fresh downside risk opens if Nifty trades below 11,200 and Bank Nifty below 28,800.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,200.
Bank Nifty intraday and closing stop loss 28,800.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,375.
Bank Nifty intraday and closing stop loss 29,300.
For New Positions:
Sell Nifty in 11,325-11,350 range with a stop loss of 11,400 and target 11,300, 11,275, 11,250.
Buy Nifty near 11,200 with a stop loss of 11,175 and target 11,250, 11,275.
Sell Bank Nifty in 29,200-29,250 range with a stop loss of 29,350 and target 29,125, 29,075, 28,950.
Buy Bank Nifty in 28,850-28,900 range with a stop loss of 28,800 and target 29,050, 29,200, 29,250.
The put-call ratio (PCR) stands at 1.37 and the volatility index (VIX) is 12.63.
— Zee Business (@ZeeBusiness) July 26, 2019
Tata Motors Cash: Range 135 to 150. Expected weak results, outlook cautious, but stock already down due to short positions.
Sell BOB Cash: Stop loss 110 and target 105, 103. Asset quality worsens, Stock may recover after a gap down opening due to short covering.
Stock of the Day:
Buy Vedanta Cash: Stop loss 170 and target 178, 180, 185. Vedanta earned $100 million in 8 months on just $200 million investments, Corporate governance issues resolved.
Sell PVR Cash: Stop loss 1800 and target 1750, 1700, 1675. Disappointing results and weak margins.
Aaj ka Hero: Buy Hero Moto Cash: Stop loss 2375 and target 2420, 2445. Government considering to push demand in the auto sector.
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