Anil Singhvi’s Strategy March 11: Liquor, Cement sectors are Positive; Buy Balaji Telefilms with Stop Loss 85
Keeping weak US job data and speculations about the Fed interest rates in mind, Zee Business managing Editor Anil Singhvi suggests the following market strategy for March 11.
Amid positive sentiments, neutral global markets, foreign institutional investors (FII) and futures & options (F&O) and negative domestic institutional investors (DIIs) cues the short-term trend of the Indian stock market will remain positive on Monday, March 11, 2019.
Earlier on Friday, March 8, 2019, Benchmark domestic stocks closed with marginal losses snapping four sessions' winning trend. On the day, the Nifty 50 was down by losing 22.80 points, or 0.21% and closed at 11,035.40, i.e. it continued to maintain the psychological mark of 11,000 while Nifty Bank slipped 2.80 points, 0.01%, to close at 27,761.80. S&P BSE Sensex lost 53.97 points, or 0.15%, to end at 36,671.43.
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— Zee Business (@ZeeBusiness) March 11, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 11:
The small trading range on Nifty stands at 11,000-11,050 while the medium and extreme range lies between 10,975-11,075 and 10,950-11,100.
In the case of the Bank Nifty, the small trading range stands at 27,650-27,800 while the medium and extreme ranges lie between 27,550-27,850 and 27,500-27,950.
For Existing Long Positions:
Nifty Intraday stop loss 10,975. Closing stop loss 11,000.
Bank Nifty Intraday stop loss 27650. Closing stop loss 27600.
For Existing short positions:
Nifty Intraday stop loss 11,075. Closing stop loss 11,100.
Bank Nifty Intraday stop loss 27,825. Closing stop loss 27,800.
For New Positions:
Sell Nifty with a stop loss of 11,100 and target 11,000, 10,950.
Buy Nifty in 10,950-11,000 range with a stop loss of 10,900 and target 11,050, 11,075.
Sell Bank Nifty with a stop loss of 27,850 and target 27,650, 27,550.
Buy Bank Nifty in 27,550-27,650 range with a stop loss of 27,500 and target 27,750, 27,800.
The put-call ratio (PCR) stands at 1.60 and the volatility index (VIX) is 14.94.
Positive: Liquor, Cement
Negative: Profit booking in Metals, IT, High beta midcaps
Enters F&O Ban: Jet Airways
Out of Ban: Wockhardt
In Ban: IDBI, Reliance Power.
Stock of the Day:
Buy UBL Cash: Stop loss 1375 and target 1390, 1405.
Election season’s favourite stock
Buy Balaji Telefilms: Stop loss 85 and target 92, 95, 98. Promoters bought the stake from open markets on Friday.
Aaj Ka Hero:
Sell Reliance Capital Cash: Stop loss 194 and target 185, 182, 180. ADAG stocks looking weak.