Anil Singhvi’s Strategy March 27: Market Trend is Positive; Buy ICICI Prudential futures with stop loss 315
Neutral FII, global sentiments and F&O suggests that the short-term trend of the Indian stock markets will be positive, says Zee Business Managing Editor Anil Singhvi.
Neutral global market, foreign institutional investors (FII), futures & options (F&O) and domestic institutional investors (DIIs) and positive sentiment cues suggest that the short-term trend of the Indian stock markets will be positive today, on March 27, 2019.
Recovering from two days of sharp losses, the domestic stock markets soared up on Tuesday, March 26, 2018. On the day, the Sensex at the Bombay Stock Exchange (BSE) jumped 424.50 points, or 1.12%, to close at 38,233.41. Similarly, Nifty 50 surged 129 points, or 1.14%, to 11,483.25 while Nifty Bank gained 600.95 points, or 2.05%, to close at 29,882.15.
See Anil Singhvi's tweet below:
— Zee Business (@ZeeBusiness) March 27, 2019
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 27:
The small and medium day range on Nifty lies between 11,450-11,500 and 11,400-11,550 while the extreme range stands at 11,385- 11,600.
In the case of the Bank Nifty, the small and medium day range resides between 29,750-29,950 and 29,600-30,000 while the extreme range stands at 29,530-30,200.
Strong support zone on the two indices, Nifty and Bank Nifty, stands at 11,400-11,450 and 29,600-29,750 respectively.
Small selling zone on Nifty and Bank Nifty lies between 11,550-11,575 and 29,950-30,000 small Sell Zone.
For Existing Long Positions:
Nifty Intraday stop loss 11,400 and Closing stop loss 11,350.
Bank Nifty Intraday stop loss 29,600 and Closing stop loss 29600.
For Existing short positions:
Nifty Intraday stop loss 11,500 and Closing stop loss 11550.
Bank Nifty Intraday and Closing stop loss 30,000.
For New Positions:
Buy Nifty in 11,425-11,450 range with a stop loss of 11,400 and target 11,500, 11,525, 11,550.
Sell Nifty in 11,550-11,575 range with a stop loss of 11,600 and target 11,500.
Buy Bank Nifty in 29,600-29,750 range with a stop loss of 29,500 and target 29,950, 30,150.
Sell Bank Nifty near 30,000 with a stop loss of 30,050 and target 29,850, 29,750.
The put-call ratio (PCR) stands at 1.64 and the volatility index (VIX) is 16.48.
Enters F&O Ban: Jet Airways
Exit Ban: PNB
4 Already in Ban: Adani Power, Adani Enterprises, IDBI, Reliance Power
Stock of the Day:
Sell Mindtree Futures: Stop loss 955 and target 930, 910. No buyback by Mindtree board.
Aaj Ka Hero:
Buy ICICI Prudential Futures: Stop loss 315 and target 330, 335. Huge response to OFS, Cut off price at 321.30. Subscribed 4 times. Short covering expected.
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