Anil Singhvi’s Strategy May 14: Market Sentiment is Negative; Sell Jet Airways Cash with Stop Loss 140

Amid positive Domestic Institutional Investors (DIIs), neutral Futures and Options (F&O) and negative global market, foreign institutional investors (FII) and sentiment cues, the short-term trend of the Indian market will continue to be negative on Tuesday, May 14, 2019.  Earlier on Monday, May 13, 2019, the domestic stocks plunged around one per cent. Benchmark indices declined for ninth straight session amid negative cues from global markets. Sensex at Bombay Stock Exchange fell 372.17 points (0.99%) to close at 37,090.82. Nifty at National Stock Exchange was also down 130.70 points (1.16%) to end at 11,148.20. Bank Nifty lost 380.55 points (1.31%) and settled at 28,659.95. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 14: 
The small and medium day range for trading on Nifty lies between 11,100-11,250 and 11,050-11,300. The bigger range stands at 11,000-11,360. 
The small and medium day range for trading on Bank Nifty lies between 28,500-28,800 and 28,350-28,900. The bigger range stands at 28150-29050.
The trend will remain weak with no buy signal till the two indices, Nifty and Bank Nifty, remains trading below 11,360 and 29,050 levels respectively.

For Existing Long Positions:
No long positions in Nifty and Bank Nifty on intraday and Closing basis. 

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For Existing Short Positions:
Nifty Intraday and Closing stop loss 11,300. 
Bank Nifty Intraday and Closing stop loss 28,900. 

For New Positions:
Sell Nifty with a stop loss of 11,300 and target 11,100, 11,050, 11,000.
Buy Nifty only above 11,300 with a stop loss of 11,250 and target 11,350, 11,400. 
Sell Bank Nifty with a stop loss of 28,900 and target 28,500, 28,350. 
Buy Bank Nifty only above 28,900 with a stop loss of 28,650 and target 29,000, 29,050. 
The put-call ratio (PCR) stands at 1.18 and the volatility index (VIX) is 27.38.

In F&O Ban: Jet Airways. 

Results Analysis:
Buy SRF Futures: Stop loss 2450 and target 2525, 2540. Strong operational results. 

Stock of the Day:
Sell Jet Airways Cash: Stop loss 140 and target 125, 120, 110. Interest to buy Jet Air is reducing day by day
Sell Hindalco Futures: Stop loss 195 and target 188, 184. Tariff war to impact metal stocks. 

Aaj Ka Hero:
Sell Sun Pharma Futures: Stop loss 420 and target 400, 395. Pricing issues in the US to impact, Teva fell 16% yesterday.