Anil Singhvi’s Strategy March 14: Market is Positive; Sell Jubilant Food Futures with Stop loss 1335
Positive FII sentiments, neutral global cue and F&O suggests that the short-term trend of the Indian markets will continue to be positive on Thursday, says Anil Singhvi
Positive sentiments and foreign institutional investors (FII), neutral global and futures & options (F&O) and negative domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian stock markets will continue to be positive on Thursday, March 14, 2019.
Earlier on Wednesday, March 13, 2019, the benchmark domestic markets closed with gains for the third straight session. Nifty and Sensex, both indices, rallied even as cues from global stocks were negative and dampened investors’ risk appetite. Nifty 50 gained 40.50 points (0.36%) to end at 11,341.70 while Nifty Bank surged 440.60 points (1.55%) to close at 28,884.30. The S&P BSE Sensex rose 216.51 points (0.58%) to settle at 37,752.17.
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— Zee Business (@ZeeBusiness) March 14, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 14:
11,275-11,400 is going to be the intraday trading range on Nifty. An additional move of 50 points can be seen if Nifty starts trading over the aforesaid range.
28,650-29,000 are going to be the trading range on Bank Nifty. An additional move of 150 points can be seen if Bank Nifty starts trading over the aforesaid range.
Strong support range on the two indices, Nifty and Bank Nifty, resides between the mark of 11,225-11,275 and 28,450-28,500 respectively.
PCR 1.81, be on an alert at the Higher level.
For Existing Long Positions:
Nifty Intraday stop loss 11,275 and Closing stop loss 11,150.
Bank Nifty Intraday and Closing stop loss 28,500.
For Existing short positions:
Nifty and Bank Nifty Intraday and Closing all stop losses triggered.
For New Positions:
Buy Nifty in 11,275-11,325 range with a stop loss of 11,225 and target 11,350, 11,400.
Sell Nifty near 11,400-11,450 range with a stop loss of 11,500 and target 11,350, 11,325.
Buy Bank Nifty with a stop loss of 28,500 and target 29,000, 29,050, 29,100.
Sell Bank Nifty near 29,100 with a stop loss of 29,200 and target 29,000, 28,850.
The put-call ratio (PCR) stands at 1.81 and the volatility index (VIX) is 15.28.
Enters F&O Ban: BEML
Out of Ban: Nil
4 Already in Ban: IDBI, Reliance Power, Jet Airways, Reliance Infrastructure
Stock of the Day:
Sell Lupin Futures: Stop loss 770 and target 740, 735, 730. USFDA observations on Mandi deep unit is a big negative. Don’t short if opens with a big gap.
Aaj Ka Hero:
Sell Jubilant Food Futures: Stop loss 1335 and target 1300, 1280. Promoters selling 40 lacs shares in the market. Don’t short if opens with a big gap.