Anil Singhvi’s Strategy March 13: Market is Positive; Subscribe HDFC Life OFS in the range of 360-365
Positive FII, neutral global cues and F&O and negative DII suggest that the short-term trend of the Indian markets will be positive, says Zee Business Managing Editor Anil Singhvi
Positive sentiments and foreign institutional investors (FII), neutral global market and futures & options (F&O) and negative domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian stock markets will be positive on Wednesday, March 13, 2019.
Earlier on Tuesday, March 12, 2019, the benchmark domestic stocks closed after surging more than one per cent over the previous session’s gains. BSE Sensex climbed +481.56 points, or 1.30 per cent, to reclaim 37,500 and closed at 37,535.66. Nifty 50 also settled above 11,300-level amid positive cues from global stocks. Nifty rose by 133.15 points, or 1.19 per cent, to close at 11,301.20 while Nifty Bank rose 477.05 points, or 1.71 per cent, to settle at 28,443.70.
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— Zee Business (@ZeeBusiness) March 13, 2019
Bharti Airtel (up 5 per cent), ICICI Bank (up 3.42 per cent), IndusInd Bank (up 3.24 per cent), and Larsen & Toubro (up 3.15 per cent) were the top gainers of the day. Eicher Motors (down 2.62 per cent) and Bajaj Finance (down 1.36 per cent) were the top losers.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 13:
10,300 and 28,500 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small and medium trading range on Nifty lies between 11,225-11,325 and 11,200-11,350 respectively while the extreme range stands at 11,175-11,400.
In the case of Bank Nifty, the small and medium trading range lies between 28,300-28,600 and 28,200-28,700 respectively while the extreme range stands at 28,050-28,850.
The strong support zone on the two indices, Nifty and Bank Nifty lies between 11,175-11,225 and 28,050-28,200 respectively.
PCR 1.81, be on an alert on this high level
For Existing Long Positions:
Nifty Intraday stop loss 11,225 and closing stop loss 11050.
Bank Nifty Intraday 28,150 and closing stop loss 28,000.
For Existing short positions:
Nifty and Bank Nifty intraday and closing all stop losses triggered
For New Positions:
Buy Nifty near 11225 with a stop loss of 11,150 and target 11,300, 11,325.
Sell Nifty with a stop loss of 11,325 and target 11,225.
Buy Bank Nifty near 28,200 with a stop loss of 28,000 and target 28,450.
Sell Bank Nifty near 28,200 with a stop loss of 28,550 and target 28,400, 28,300.
The put-call ratio (PCR) stands at 1.81 and the volatility index (VIX) is 15.10.
Positive: Real Estate, Cash stocks
Enters F&O Ban: Nil
Out of Ban: Nil
4 Already in Ban: IDBI, Reliance Power, Jet Airways, Reliance Infrastructure.
Stock of the Day:
Buy DLF Cash: Stop loss 186 and target 191, 195. Better growth prospects in the rental business.
Aaj Ka Hero:
Subscribe HDFC Life OFS in the range of 360-365.