The S&P BSE Sensex on Thursday gained 51.01 points (0.13%), to end at a new closing high of 38,336.76 and the Nifty 50 at the National Stock Exchange rose 11.85 points (0.10%), to post an all-time high of 11,582.75.                   

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On the other hand, Nifty Bank went down by 230 points (0.81%) to close at 28,027.90. 

In secondary indices at BSE, Mid Cap rose by 0.20 per cent while Small Cap went down by 0.14 per cent. 

However, positive future and options (F&O), foreign institutional investors (FII) sentiments, neutral domestic institutional investors (DIIs), and negative global cues hint that the short-term trend of the Indian market will be positive on August 24, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 24: 
11,600 and 28,000 are deciding levels on Nifty and BankNifty respectively. 

Markets to trade in a small range, trade contra against the trend for small profits on Nifty & BankNifty.

For skilled traders, sell on rising strategy will work.

Small trade range on Nifty lies between 11,540 -11,600 and the bigger range stands at 11,500-11,625. 

In the case of BankNifty, the small trading range lies between 27,950-28,125 while the bigger range is at 27,800-28,250. 

11500-11540 is the support zone on Nifty while 11,600-11,625 is the profit booking zone on the indices. 

Best selling range on Nifty lies between 28,175-28,250. 

Traders are advised to reduce their buying positions on the two indices if Nifty and BankNifty close below the mark of 11,550 and 28,000 respectively. However, they should end their positions if the two indices close below the mark of 11,475 and 27,800. 

Watch this Zee Business video here:

Buy and Sell Strategy on Nifty 
Sell Nifty with a stop loss of 11,625 and a target of 11,540-11,500-11,475. 

Buy Nifty near 11,500 with a stop loss of 11,475 and target of 11,550. 

Buy and Sell Strategy on BankNifty 
Sell BankNifty with a stop loss of 28,175 and a target of 27,950-27,800. 

Buy BankNifty near 27,800 with a stop loss of 27,750 and a target of 28,000. 

The put-call ratio (PCR) today stands at 1.73 and the volatility index (VIX) is 12.76

Sectors:
Negative: Metals, Banks, Aviation

Positive: Midcap Pharma
 
Enters F&O Ban: Nil

Out of F&O Ban: Nil

Already in Ban: Jain Irrigation, Raymonds
 
Stock of the Day:
Sell Hexaware Futures: Stop loss 465 and target is 455-445-435

Barings to sell 8.4% stake today in block deals, floor price 447.50
 
Sell Britania Futures: Stop loss 6950 and target is 6800-6750
Split ratio lower than expected