Anil Singhvi’s Strategy May 10: Market trend is Negative; Sell Jet Airways Cash with Stop Loss 155

Amid positive Domestic Institutional Investors (DIIs), neutral global market, Futures and Options (F&O), and negative foreign institutional investors (FII) and sentiment cues, the short-term trend of the Indian market will continue to be negative on Monday, May 13, 2019. 
 
Earlier on Friday, May 10, 2019, the domestic stock market fell marginally and closed in a red. Domestic stocks, Sensex and Nifty, registered losses for eight straight trading sessions and closed below 37,500-mark and the 11,300-mark respectively amid rising trade tensions between the US and China. On the day, S&P BSE Sensex settled at 37,462.99 after losing 95.92 points or 0.26%. Nifty 50 fell index fell 22.90 points or 0.20%, at 11,278.90. On the other hand, Bank Nifty gained 155.90 points or 0.54% and closed at 29,040.50.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 13:
11,250 and 29,000 are going to be the deciding levels on Nifty and Bank Nifty. 
The small and medium day range for trading on Nifty lies between 11,250-11,350 and 11,175-11,400. 
The small and medium day range for trading on Bank Nifty lies between 28,900-29 and 28,800-29,200. The bigger trading range stands at 28,550-29,300. 
Big downside risk opens if Nifty and Bank Nifty trade below 11,250 and 28,800. 
Next major support level on the two indices is 11,000 and 28,500 respectively. 
The trend will remain weak with no buy signal till the two indices, Nifty and Bank Nifty, remains trading below 11,500 and 29,300 levels respectively. 

For Existing Long Positions:
Nifty intraday and Closing stop loss 11,250. 
Bank Nifty intraday and Closing stop loss 28,800.  

For Existing Short Positions:
Nifty Intraday and Closing stop loss 11,360. 
Bank Nifty Intraday and Closing stop loss 29,250. 

For New Positions:
Sell Nifty with a stop loss of 11,360 and target 11,250, 11,200, 11,175. 
Buy Nifty only above 11,360 with a stop loss of 11,300 and target 11400, 11475. 
Sell Bank Nifty with a stop loss of 29,250 and target 28,900, 28,800, 28,550. 
Buy Bank Nifty only above 29,050 with a stop loss of 28,900 and target 29,200, 29,300. 
The put-call ratio (PCR) stands at 1.30 and the volatility index (VIX) is 26.33.
In F&O Ban: Jet Airways. 

Results Analysis:
Syndicate Bank Futures: Bank back in profit, asset quality improved. Book Profit in the 39-40 range. 

Stock of the Day:
Sell Tata Steel Futures: Stop loss 493 and target 482, 475. European Commission disapproved Tata Steel Thysuncrupp JV. 
Sell Jet Airways Cash: Stop loss 155 and target 145, 140. Only one bidder Etihad, that too not serious commitment. 

Aaj Ka Hero:
Sell Dr Reddy’s Futures: Stop loss 2915 and target 2830, 2800. Investigation in the USA on higher pricing of drugs.