Amid positive foreign institutional investors (FII) and sentiment, neutral global market and futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will remain positive on Wednesday, March 20, 2019.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Earlier, the domestic stocks markets of India extended gains for the seventh straight trading session on Tuesday, March 19, 2019, amid the support from heavyweights like HCL Tech (up 2.84%), Infosys (up 2.21%), Reliance Industries (2.07%) and ITC (2.03%). On the day, the S&P BSE Sensex gained 268.40 points, or 0.70%, to close at 38,363.47. The Nifty 50 index rose 70.20 points, or 0.61%, to settle at 11,532.40 while Nifty Bank was up by 171.75 points, or 0.58%, to 29,767.85.

See Zee Business video below:

Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 20:
11,500 and 29,800 are going to be the deciding levels on Nifty and Bank Nifty respectively. 
Small day range on Nifty stands at 11,475-11,550 while the medium range resides at 11,425-11,600. 
The small day range in Bank Nifty stands at 29,600-29,800 while the medium and bigger ranges lie between 29,500-29,900 and 29,350-30,000. 
Support zone on the two indices, Nifty and Bank Nifty, for the day resides between 11,425-11,475 and 29,500-29,600 respectively. 

PCR stands at 1.79, traders are advised to be on an alert at the higher level.  

See Anil Singhvi's tweet below:

For Existing Long Positions:
Nifty Intraday stop loss 11,450 and Closing stop loss 11,425. 
Bank Nifty Intraday stop loss and Closing stop loss 29,500. 

For Existing short positions:
Intraday and closing stop losses at Nifty and Bank Nifty have been triggered. 

For New Positions:
Buy Nifty near 11450 with a stop loss of 11,400 and target 11,500, 11,525, 11,550. 
Sell Nifty near 11,600 with a stop loss of 11,625 and target 11,550, 11,525. 
Buy Bank Nifty in 29,500-29,600 range with a stop loss of 29,350 and target 29,800. 

Sell Bank Nifty with a stop loss of 29,850 and target 29,600, 29,500, 29,400. 
The put-call ratio (PCR) stands at 1.79 and the volatility index (VIX) is 16.49. 

Sectors:
Positive: Midcap Private Banks
Negative: Profit booking in OMC

Enter and Exit F&O Ban: Nil
7 Already in Ban: IDBI, Jet Airways, Adani Enterprises, Reliance Capital, Reliance Power, BEML, Just Dial. 

Stock of the Day: 
Buy SpiceJet Cash: Stop loss 77 and target 80, 83, 86. Problems of Jet air will be beneficial for SpiceJet. 

Aaj Ka Hero:
Buy DHFL Futures: Stop loss 133 and target 142. Top PE firms may buy DHFL bonds.