Anil Singhvi’s Strategy March 15: Market trend is Positive; Sell Coal India cash with stop loss 245
Positive FII sentiments, neutral F&O and DII cues suggests that the short-term trend of the Indian stock markets will be positive on Friday, says Anil Singhvi
Positive sentiments and foreign institutional investors (FII), neutral futures & options (F&O) and global market and negative domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian stock markets will be positive on Friday, March 15, 2019.
Earlier on Thursday, March 14, 2019, the benchmark domestic stocks closed almost flat. Both Sensex and Nifty witnessed marginal gains amid mixed global markets for the fourth straight session. The S&P BSE Sensex gained 2.72 points to end at 37,754.89 while Nifty 50 added 1.55 points and closed at 11,343.25. Nifty Bank also logged a marginal growth of 38.80 points and settled at 28,923.10.
Selling in heavyweights like HCL technologies (down 2.17%), Hero MotoCorp (down 1.81%), UltraTech Cement (down 1.61%), Tata Motors (down 1.27%) and ICICI Bank (down 1%) restricted gains in key benchmarks.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 15:
Small Day range on Nifty stands at 11,300-11,375 while the medium and bigger ranges lie between 11,275-11,400 and 11,225-11,450.
Small day range on Bank Nifty stands at 28,800-28,925 while the medium and bigger ranges lie between 28,700-29,000 and 28,500-29,075.
Day support zone on the two indices, Nifty and Bank Nifty, lies between 11,275-11,300 and 28,800-28,850 respectively.
For Existing Long Positions:
Nifty Intraday stop loss 11,275 and Closing stop loss 11300.
BankNifty Intraday stop loss 28,800 and Closing stop loss 28,500.
For Existing short positions:
Nifty Intraday stop loss 11,400 and Closing stop loss 10,350.
Bank Nifty Intraday stop loss 29,100 and Closing stop loss 29,000.
— Zee Business (@ZeeBusiness) March 15, 2019
For New Positions:
Buy Nifty in 11,275-11,300 range with a stop loss of 11,225 and target 11,340, 11,375.
Sell Nifty near 11,375-11,400 range with a stop loss of 11,450 and target 11,325, 11,300.
Buy Bank Nifty near 28,800 with a stop loss of 28,750 and target 28,925, 29,000, 29,050.
Sell Bank Nifty with a stop loss of 29,100 and target 28,800, 28,500.
The put-call ratio (PCR) stands at 1.72 and the volatility index (VIX) is 15.15.
Enters F&O Ban: Adani Enterprises.
Out of Ban: Nil
5 Already in Ban: IDBI, Reliance Power, Jet Airways, Reliance Infrastructure, BEML
Stock of the Day:
Sell Reliance Capital Futures: Stop loss 170 and target 165, 161, 158. Promoters increased pledge shares. Other group companies pledged stocks being sold.
Aaj Ka Hero:
Sell Coal India Cash: Stop loss 245 and target 238, 235, 232. Rs 5.85 dividend is less than expected. Not much cash left in the Balance Sheet now.