Anil Singhvi’s Strategy March 5: Metals & Auto sectors are Negative; Sell Eicher Motors Cash with stop loss 20,100
Zee Business's Managing Editor Anil Singhvi's says that small and medium trading range on Nifty lies between the mark of 10,800-10,875 and 10,750-10,900 respectively. The extreme range stands at 10,725-10,925.
Neutral foreign institutional investors (FII), domestic institutional investors (DIIs) and futures & options (F&O), negative global market and cautious sentiments cues suggest that the short-term trend of the Indian stock market will be neutral on Tuesday, March 5, 2019.
Earlier on March 1, 2019, the domestic stocks logged modest gains as the Nifty 50 rose 71 points, or 0.66%, to end at 10,863.50 while the Nifty Bank was up by 254 points, 0.95%, and closed at 27,043.90. Similarly, the S&P BSE Sensex settled above the psychological 36,000 levels after gaining 196.41 points, or 0,55%, to close above 36,063.81.
Zee Entertainment, Hindustan Petroleum, IndusInd Bank, Bharat Petroleum and Indian Oil were the top gainers at the 50-scrip benchmark index as they rose between 2.56% and 4.48%.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 5:
The small and medium trading range on Nifty lies between the mark of 10,800-10,875 and 10,750-10,900 respectively. The extreme range stands at 10,725-10,925.
In the case of the Bank Nifty, the small and medium trading ranges lie between 26,900-27,050 and 26,800-27,150 respectively. The extreme range stands at 26,700-27,200.
For Existing Long Positions:
Nifty Intraday stop loss 10,775 Closing stop loss 10,800.
Bank Nifty Intraday stop loss 26,900 Closing stop loss 26,800.
For Existing short positions:
Nifty Intraday and Closing stop loss 10,900.
Bank Nifty stop loss 27,100 and target 27,050.
For New Positions:
Buy Nifty in 10,775-10,800 range with a stop loss of 10,725 and target 10,850, 10,875.
Sell Nifty with a stop loss of 10,900 and target 10,825, 10,800, 10,775.
Buy Bank Nifty in 26,800-26,900 range with a stop loss of 26,700 and target 27,000, 27,050.
Sell Bank Nifty with a stop loss of 27,100 and target 26,900, 26,800, 26,750.
PCR 1.69 VIX down 11% at 16.27
Negative: Metals, Auto
In F&O Ban: Nil
Stock of the Day:
Sell Eicher Motors Cash: Stop loss 20,100 and target 19,200, 19,000, 18,850. Weak monthly sales nos.
Sell Hindalco Futures: Stop loss 198 and target 193, 191. Aluminium prices down, tariff threats on India by Trump.
Aaj Ka Hero:
Sell Dr. Reddy’s Futures: Stop loss 2675 and target 2610, 2585, 2550. Competition for Nuvaring is increasing. It contributes 20% of its profit
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.