Anil Singhvi’s Strategy March 6: NBFC, High Beta Midcaps are Positive; Buy Edelweiss with Stop Loss 151
On positive FII, domestic institutional investors and sentiments, neutral F&O and global market cues the short-term trend of the Indian stock market will be positive on Wednesday, March 6, 2019.
Amid Positive foreign institutional investors (FII), domestic institutional investors (DIIs) and sentiments, neutral futures & options (F&O) and global market cues the short-term trend of the Indian stock market will be positive on Wednesday, March 6, 2019.
Earlier on March 5, 2019, the stocks markets logged sharp gains showing that the overall health of the market was strong. The Nifty 50 rose 123.95 points or 1.14%, to settle at 10,987.45 while the Nifty Bank was up 510.15 points or 1.89% to close at 27,554.05. The barometer index, the S&P BSE Sensex rose 378.74 points or 1.05% to end at 36,442.54.
Indiabulls Housing Finance (10.01%), Eicher Motors (7.83%), Tata Motors (7.27%) were the top gainer of the day.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 6:
11,000 and 27,500 are going to be the deciding levels on Nifty and Bank Nifty.
The small trading range on Nifty stands at 10,935-11,025 while the medium and extreme ranges lie between 10,900-11,075 and 10,875-11,100.
The small trading range on Bank Nifty stands at 27,450-27,650 while the medium and extreme ranges lie between 27,350-27,750 and 27,200-27,850.
For Existing Long Positions:
Nifty Intraday stop loss 10,925 Closing stop loss 10850.
Bank Nifty Intraday stop loss 27,350 Closing stop loss 27,150.
For Existing short positions stop losses triggered yesterday.
For New Positions:
Buy Nifty with a stop loss of 10,900 and target 11,025, 11,075.
Sell Nifty near 11,100 with a stop loss of 11,125 and target 11,050, 11,025.
Buy Bank Nifty in 27,400-27,500 range with a stop loss of 27,300 and target 27,650, 27,750.
Sell Bank Nifty in 27,750-27,800 range with a stop loss of 27,900 and target 27,650, 27,550.
The put-call ratio (PCR) stands at 1.76 and the volatility index (VIX) is 15.66.
Positive: NBFC, High Beta Midcaps
2 stocks enter in F&O Ban: Reliance Power, Wockhardt
Stock of the Day:
Buy DHFL Futures: Stop loss 131 and target 135, 137, 140. Independent Auditor’s report is positive.
Aaj Ka Hero:
Buy Edelweiss: Stop loss 151 and target 157, 162, 168. American fund to invest Rs. 1800 crore in Edelweiss NBFC.
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