Anil Singhvis Strategy July 30: Sell Dr Reddys Futures with Stop Loss 2690; Auto Sector is Negative

Amid positive domestic institutional investors (DIIs), neutral global markets and futures and options (F&O) and negative foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the domestic Indian markets will be Negative on Tuesday, July 30, 2019. Earlier on Monday, July 29, 2019, the benchmark domestic indices closed with losses of more than half a per cent. Sensex and Nifty, both, fell amid sustained foreign fund outflow and negative cues from Asian stocks. Sensex at Bombay Stock Exchange declined 196.42 points or 0.52 per cent to end at 37,686.37. Nifty at National Stock Exchange - closed below 11,200 for the first time since May 15, 2019 - also depreciated 95.10 points or 0.84 per cent to settle at 11,189.20 while Bank Nifty lost 29.40 points or 0.10 per cent to close at 29,295.90. 

Indiabulls Housing Finance (down 12.07 per cent), Grasim Industries (down 9.59 per cent) and Tata Motors (down 6.35 per cent) were the biggest losers of the day. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 30:
11,200 and 29,300 are going to be the deciding levels on Nifty and Bank Nifty respectively. 
The small day range for trading on Nifty stands at 11,150-11,250 while the medium-range resides at 11,100-11,300. 
The small day range for trading on Bank Nifty stands at 29,200-29,500 while the medium and bigger ranges lie between 29,100-29,600 and 28,950-29,750. 

For Existing Long Positions:
Nifty intraday stop loss 11,150 and closing stop loss 11,200. 
Bank Nifty intraday stop loss 29,100 and closing stop loss 28,950.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,300.
Bank Nifty intraday stop loss 29,600 and closing stop loss 29,400.

For New Positions:
Sell Nifty in 11,275-11,300 range with a stop loss of 11,350 and target 11,250, 11,225, 11,200. 
Buy Nifty with a stop loss of 11,150 and target 11,250, 11,275. 
Sell Bank Nifty in 29,500-29,600 range with a stop loss of 29,775 and target 29,375, 29,200. 
Buy Bank Nifty in 29,000-29,100 range with a stop loss of 28,900 and target 29,200, 29,325, 29,375. 

Sectors: 
Negative: Auto

Stock of the Day:
Sell Dr Reddy’s Futures: Stop loss 2690 and target 2610, 2590. Results operationally weak.