Anil Singhvi’s Strategy July 3: Market Trend & Sentiment are Positive; Buy IOC futures with stop loss 153
On positive global markets and sentiment, neutral DIIs, FII and F&O cues, the short-term trend of the Indian market will be positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive global markets and sentiment, neutral domestic institutional investors (DIIs), foreign institutional investors (FII) and futures and options (F&O) cues, the short-term trend of the domestic Indian market will be positive on Wednesday, July 3, 2019.
Earlier on Tuesday, July 2, 2019, the benchmark domestic indices closed with gains for the second session on a row. The Sensex at the Bombay Stock Exchange climbed 129.98 points or 0.33% to end at 39,816.48 while Nifty at National Stock Exchange also added 44.70 points or 0.38% to settle at 11,910.30. However, Bank Nifty lost 88.90 points or 0.28 per cent to close lower at 31,283.30.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) July 3, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 3:
11,900 and 31,300 are going to be the deciding levels on Nifty and Bank Nifty.
The small and medium day range for trading on Nifty lies between 11,865-11,950 and 11,840-12,000. The bigger range stands at 11,815-12,050.
The small and medium day range for trading on Bank Nifty lies between 31,150-31,400 and 31,100-31,500. The bigger range stands at 31,050-31,650.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,815.
Bank Nifty intraday and closing stop loss 31,100.
For Existing Short Positions:
Nifty intraday and closing stop loss at 11,925.
Bank Nifty intraday and closing stop loss at 31,500.
For New Positions:
Buy Nifty with a stop loss of 11,815 and target 11,950,11,975, 12,000.
Sell Nifty in 11,975-1,2000 range with a stop loss of 12,075 and target 11,925.
Buy Bank Nifty in 31,150-31,250 range with a stop loss of 31,050 and target 31,375, 31,425, 31,475.
Sell Bank Nifty near 31500 with a stop loss of 31,550 and target 31,375, 31,275.
In F&O Ban: DHFL
The put-call ratio (PCR) stands at 1.46 and the volatility index (VIX) is 14.25.
Stock of the Day:
Buy IOC Futures: Stop loss 153 and target 158, 160. Rupee strong and crude fell, buying expected.
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