Anil Singhvi’s Strategy March 18: 11,400 is deciding level on Nifty; Buy Mindtree cash with stop loss 940
Positive FII, neutral F&O, negative DII suggests that short-term trend of the Indian stock markets will be positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive global, foreign institutional investors (FII) and sentiments, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cue, the short-term trend of the Indian stock markets will be positive on Monday, March 18, 2019.
Earlier on Friday, March 15, 2019, the benchmark stocks ended with modest gains. S&P BSE Sensex went up 269.42 points, or 0.71%, to settled above the psychological 38,000 level at 38,024.32. Nifty 50 gained 83.65 points, or 0.74%, to end at 11,426.85 and Nifty Bank gained 458.35 points, or 1.58%, to settle at 29,381.45.
See Zee Business video below:
— Zee Business (@ZeeBusiness) March 18, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 18:
11,400 is going to be a deciding level on Nifty.
Small day range on Nifty stands at 11,400-11,500. A big move can be seen if Nifty breaks 11,340-11,525 range on any side.
29,000 is going to be very strong support on Bank Nifty. Big move if sustain above 29550, then non-stop towards 29900-30000.
11,325-11,375 and 29,000-29,100 are going to be the strong support zone on Nifty and Bank Nifty.
For Existing Long Positions:
Nifty Intraday stop loss and Closing stop loss 11,340.
Bank Nifty Intraday stop loss and Closing stop loss 29,000.
For Existing short positions:
Nifty and Bank Nifty Intraday and Closing all stop losses triggered.
For New Positions:
Buy Nifty in 11,275-11,300 range with a stop loss of 11,375 and target 11,475, 11,500, 11,550.
Buy Bank Nifty with a stop loss of 29,000 and target 29,500, 29,900.
The put-call ratio (PCR) stands at 1.77 and the volatility index (VIX) is 15.86.
Total 5 stocks in F&O Ban
Enters Ban: Reliance Capital.
Out of Ban: BEML, Reliance Power
4 Already in Ban: IDBI, Jet Airways, Reliance Infrastructure, Adani Enterprises
Stock of the Day:
Buy MindTree Cash: Stop loss 940 and target 965, 985. Board meeting on March 20, to consider Buyback. Takeover fight with L&T can be beneficial for shareholders.
Grasim Futures: First short for a target of 810 with a stop loss of 835. Can buy in the 795-805 range with a stop loss of 790 and target 825. Tax demand only has a sentimental impact, Demerger cannot be treated as Dividend.
Aaj Ka Hero:
Sell Lupin Futures: Stop loss 695 and target 670. USFDA acts against its US Subsidiary.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.