Anil Singhvi's Market Strategy August 27: Metals & Jewellery positive; Titan futures & SAIL futures are stocks of the day
At the stock markets, the S&P BSE Sensex fell by 84.96 points, or 0.22 per cent, to trade at 38,251..80, while Nifty 50 at the National Stock Exchange dropped 25.65 points or 0.22 per cent to 11,557.10. Similarly, Nifty 50 went down by 193.20 points or 0.69 per cent to close at 27,834.70.
At the stock markets, the S&P BSE Sensex fell by 84.96 points, or 0.22 per cent, to trade at 38,251..80, while Nifty 50 at the National Stock Exchange dropped 25.65 points or 0.22 per cent to 11,557.10. Similarly, Nifty 50 went down by 193.20 points or 0.69 per cent to close at 27,834.70.
As far as the secondary indices at BSE are concerned, then Mid Cap fell 0.26 per cent while Small Cap went down by 0.34 per cent.
However, positive future and options (F&O), domestic institutional investors (DIIs) sentiments, neutral foreign institutional investors (FII) and global cues suggest that the short-term trend of the Indian market will remain positive on August 27, 2018.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 27:
Small trade range on Nifty stands between 11,525 -11,625 while the bigger range lies at 11,500-11,675.
The large short covering can be seen if Nifty resides above the mark of 11,625.
The small trading range on BankNifty stands between 27750-28125 while the bigger range lies at 27,700-28,250.
Intraday Nifty support zone on Nifty lies at 11,530-11,550 and the profit booking zone stands at 11,600-11,625.
Traders are advised to reduce their buying positions on Nifty and BankNifty if they close below the mark of 11,550 and 27,750.
Buy Strategy on Nifty
Buy Nifty with a stop loss of 11,525 and a target of 11,600-11,625-11,650.
Buy Strategy on BankNifty
Buy BankNifty with a stop loss of 27,750 with a target of 28,000-28,125-28,250.
The put-call ratio (PCR) today stands at 1.63 and the volatility index (VIX) is 12.41.
Sectors:
Positive: Metals, Jewellery
Enters F&O Ban: Hexaware, Jet Airways
Out of F&O Ban: Nil
Already in Ban: Jain Irrigation, Raymonds
Watch this Zee Business video here:
Stocks of the Day:
Buy Titan Futures: Stop loss 882 target 900-910
Recommendation of reduction in Import Duty is positive for sentiment. Short covering expected.
Buy SAIL Futures: Stop loss of 74 target 78-78.50
Hike in prices of steel products
Buy M&M Futures: Stop loss 962 target 978-982
Big defence orders focus on the Make in India
Short indigo Futures: Stop loss 1070 target 1035
Higher crude prices and Enquiry by Govt. to put pressure on the stock
09:40 am
Nifty sees a decent start, holds 18,100; Titan up 1%, Petronet LNG down 4%
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