Anil Singhvi’s Strategy May 27: Market Trend is Positive; Sell Page Industries Futures with Stop Loss 22,150
The short-term trend of the domestic Indian market will remain positive on Monday, May 27, 2019, but sentiments are cautious.
Amid positive foreign institutional investors (FII), neutral domestic institutional investors (DIIs) and futures and options (F&O) and negative global market cues, the short-term trend of the domestic Indian market will remain positive on Monday, May 27, 2019, but sentiments are cautious.
Earlier on Friday, May 24, 2019, the domestic stock market logged strong gains on steady buying demand in index pivotals. The Sensex at the Bombay Stock Exchange settled above the psychological 39,000-mark at 39,434.72 after going up 623.33 points or 1.61 per cent after moving above and below that level in intraday trade.
The Nifty at the National Stock Exchange spurted 187.10 points or 1.60 per cent to 11,844.10. The Bank Nifty gained 803.45 points or 2.64 per cent at 31,212.55
Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 27:
11,800 and 30,500 are going to be the deciding levels in Nifty and Bank Nifty.
The small and medium day range for trading on Nifty lies between the mark of 11,800-11,875 and 11,750-11,900 respectively. The bigger range stands at 11,650-12,000.
The small and medium day range for trading on Nifty lies between the mark of 31,000-31,500 and 30,700-31,700 respectively.
For Existing Long Positions:
Nifty intraday and closing basis stop loss 11,650.
Bank Nifty intraday and closing basis stop loss 30,700.
For Existing Short Positions:
Nifty intraday and closing basis stop loss 11,900.
Bank Nifty intraday and closing basis with a stop loss of 31,700.
For New Positions:
Buy Nifty in 11,750-11,800 range with a stop loss of 11,700 and target 11,850, 11,900, 11,975.
Sell Nifty near 12,000 with a stop loss of 12,050 and target 11,900.
Buy Bank Nifty in 30,800-31,000 range with a stop loss of 30,650 and target 31,200, 31,500.
Sell Bank Nifty in 31,500-31,700 range with a stop loss of 31,800 and target 31,300, 31,200.
In F&O Ban: Adani Power, IDBI
The put-call ratio (PCR) stands at 1.23 and the volatility index (VIX) down by 15% to 16.47.
Bata Futures: Results weak on all fronts as expected. 1290-1310 is an important support level.
Stock of the Day:
Sell Page Industries Futures: Stop loss 22,150 and target 21,400, 21,250. Weak operational performance on all fronts
Aaj Ka Hero:
Sell Ashok Leyland Futures: Stop loss 95 and target 90, 88, 86. Margins miss, outlook weak.