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Anil Singhvi’s Strategy June 21: Market Trend is Neutral; Sell Tata Motors with Stop Loss 161
Amid positive global market and DIIs, neutral FII and F&O cues, the short-term trend of the domestic Indian market will be neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive global market, domestic institutional investors (DIIs) and sentiment, neutral foreign institutional investors (FII) and futures and options (F&O) cues, the short-term trend of the domestic Indian market will be neutral on Friday, June 21, 2019.
Despite a negative start on Thursday, June 20, 2019, the Bulls came back on the Dalal Street and helped the domestic markets to close on a strong note. Nifty closed up by 140.30 points, 1.20%, at 11,831.75 levels while Sensex was up by 488.89 points, 1.25%, at 39,601.63. Similarly, Bank Nifty rose 419 points, 1.38%, and settled at 30,781.10. Yes Bank was the top gainer of the day up by 11.43% while Indiabulls Housing and IndusInd Bank were up by 8.55 and 4.10% respectively while UPL, down by 8.45%, was the biggest loser.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) June 21, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 21:
11,800 and 30,700 are going to be the deciding levels on Nifty and Bank Nifty, respectively.
The small day range for trading on Nifty stands at 11,800-11,900 while the medium and bigger ranges lie between the mark of 11,725-11,925 and 11,675-11,950 respectively.
The small day range for trading on Bank Nifty stands at 30,650-30,850 while the medium and bigger ranges lie between the mark of 30,500-30,950 and 30,350-31,050 respectively.
For Existing Long Positions:
Nifty intraday and closing basis stop loss of 11,675.
Bank Nifty intraday 30,600 and closing basis stop loss of 30,350.
For Existing Short Positions:
Nifty and Bank Nifty intraday and closing basis stop loss of already triggered.
For New Positions:
Buy Nifty near 11,800 with a stop loss of 11,690 and target 11,850, 11,900, 11,925.
Sell Nifty in 11,900-11,925 range with a stop loss of 12,000 and target 11,850, 11,825.
Buy Bank Nifty in 30,500-30,600 range with a stop loss of 30,350 and target 30,700, 30,825, 30,900.
Sell Bank Nifty in 30,900-31,000 range with a stop loss of 31,050 and target 30,825, 30,700.
Total 5 stocks in Ban
Enter F&O Ban: Reliance Capital, Jain Irrigation
Out of Ban: Reliance Infrastructure, IDBI
3 Already in Ban: DHFL, PC Jewellers, Jet Airways
The put-call ratio (PCR) stands at 1.59 and the volatility index (VIX) is 14.
Stock of the Day:
Sell Tata Motors Futures: Stop loss 161 and target 156, 155. Rating downgrade by Moody's.
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