Anil Singhvi’s Strategy March 26: Market trend is Neutral; Buy Jet Futures with Stop Loss 233
Neutral FII, global sentiments and F&O suggest that the short-term trend of the Indian stock market will continue to be neutral, says Zee Business Managing Editor Anil Singhvi.
Neutral global market, foreign institutional investors (FII), futures & options (F&O) and domestic institutional investors (DIIs) and cautious sentiments cues suggest that the short-term trend of the Indian stock market will continue to be neutral on Tuesday, March 26, 2019.
Earlier on Monday, March 25, 2019, the key benchmark indices closed with sharp losses. The BSE Sensex declined 355.70 points (0.93%) to 37,808.91. The Nifty 50 also fell 102.65 points (0.90%) to settle at 11,354.25 while Nifty Bank fell 301.30 points (1.02%) to close at 29,281.20
See Anil Singhvi tweet below:
26th March Strategy:
For New Positions:
SL 11300 Tgt 11400, 11425, 11450
Sell Nifty in 11425-11475 range:
SL 11500 Tgt 11400, 11350
SL 29150 TGT 29350, 29500, 29600
Sell BankNifty near 29600:
SL 29750 TGT 29500, 29400
PCR 1.46 VIX 16.67@ZeeBusiness
— Anil Singhvi Zee Business (@AnilSinghviZEE) March 26, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 26:
The small and medium day range for trading on Nifty lies between 11,300-11,400 and 11,250-11,450.
The small and medium day range on Bank Nifty lies between 29,150-29,500 and 29,100-29,600 while the bigger range stands at 29,050-29,750.
Neat strong Support Zone on the two indices, Nifty and Bank Nifty, lies between 11,300-11,350 and 29,100-29,150 respectively.
Neat strong Sell Zone on Nifty and Bank Nifty lies between 11,450-11,500 and 29,600-29,750.
For Existing Long Positions:
Nifty Intraday stop loss 11,300 and Closing stop loss 11,340.
Bank Nifty Intraday stop loss 29,150 and Closing stop loss 29,000.
For Existing short positions:
Nifty Intraday stop loss 11,400 and Closing stop loss 11,450.
Bank Nifty Intraday stop loss 29,500 and Closing stop loss 29,600.
For New Positions:
Buy Nifty with a stop loss of 11,300 and target 11,400, 11,425, 11,450.
Sell Nifty in 11,425-11,475 range with a stop loss of 11,500 and target 11,400, 11,350.
Buy Bank Nifty with a stop loss of 29,150 and target 29,350, 29,500, 29,600.
Sell Bank Nifty near 29,600 with a stop loss of 29,750 and target 29,500, 29,400.
The put-call ratio (PCR) stands at 1.46 and the volatility index (VIX) is 16.67.
Enters F&O Ban: Nil
Exit Ban: Jet Airways
5 Already in Ban: IDBI, Adani Enterprises, Reliance Power, Adani Power, PNB
Stock of the Day:
Buy Jet Futures: Stop loss 233 and target 250, 258. Huge short covering expected.
Short Indigo Futures: Stop loss 1395 and target 1370, 1355, 1330. The revival of Jet is bad for other airlines.
Aaj Ka Hero:
Sell ICICI Prudential Futures: Stop loss 325 and target 310, 305. Promoters to sell 3.5% stake via OFS
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