Anil Singhvi’s Strategy June 20: Market Trend is Neutral; Sell TCS Futures with stop loss 2275
Amid positive global market and neutral FII, F&O and DIIs cues, the short-term trend of the domestic Indian market will be neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive global market and neutral foreign institutional investors (FII), futures and options (F&O) and domestic institutional investors (DIIs) cues, the short-term trend of the domestic Indian market will be neutral on Thursday, June 20, 2019, while the sentiments are cautious.
After trading in Green for the first half, the domestic markets on Wednesday, June 29, 2019, closed on a flat note. Nifty closed on a flat note at 11,691.45 levels while Sensex closed up by 66.40 points, or 0.17 per cent, at 39,112.74 levels. Bank Nifty went up by 11.10 points, or 0.04 per cent, and closed at 30,362.10
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) June 20, 2019
Tata Steel (up by 5.40 per cent) and Zee Entertainment (up by 5.14 per cent) were the top gainers of the day while Indiabulls Housing Finance (down by 8.49 per cent) and Yes Bank (down by 4.89 per cent) were the biggest losers.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 20:
11,700 and 30,500 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small day range for trading on Nifty stands at 11,650-11,725 while the medium and bigger ranges lie between the mark of 11,625-11,800 and 11,600-11,825 respectively.
The small and medium day range for trading on Bank Nifty lies between at 30,250-30,500 and 30,200-30,700 respectively.
The trend will be neutral till Nifty and Bank Nifty closes above 11,650 and 30,250 respectively.
For Existing Long Positions:
Nifty intraday and closing basis stop loss 11,600.
Bank Nifty intraday and closing basis stop loss 30,200.
For Existing Short Positions:
Nifty intraday and closing basis stop loss 11,825.
Bank Nifty intraday stop loss 30,550 and closing basis stop loss 30,650.
For New Positions:
Buy Nifty in 11,625-11,650 range with a stop loss of 11,600 and target 11,725, 11,800, 11,825.
Sell Nifty in 11,800-11,825 range with a stop loss of 11,875 and target 11,725.
Buy Bank Nifty in 30,200-30,250 range with a stop loss of 30,150 and target 30,500, 30,630, 30,700.
Sell Bank Nifty in 30,550-30,650 range with a stop loss of 30,700 and target 30,400, 30,350.
Enters F&O Ban: Reliance Infrastructure
Out of Ban: Reliance Capital
4 Already in Ban: IDBI, DHFL, PC Jewellers, Jet Airways
The put-call ratio (PCR) stands at 1.15 and the volatility index (VIX) is 14.73.
Stock of the Day:
Sell TCS Futures: Stop loss 2275 and target 2240, 2225. US may cap H1B visa limits.
Aaj Ka Hero:
Sell Ashok Leyland Futures: Stop loss 84 and target 81, 80. Pantnagar plant to close for 6 days due to low demand.