Anil Singhvi's Market Strategy August 9: Metals, Oil & Gas, Oil Marketing Cos are positive; NALCO is stock of the day

Domestic stocks on Wednesday, August 8, 2018, gained around half a per cent to log new lifetime highs. Amid mixed global markets, S&P BSE Sensex climbed 0.59 per cent or 221.76 points to 37,887.56. Nifty 50 also jumped up 0.53 per cent or 60.55 points to 11,450, while NiftyBank went up by 0.67 per cent or 186.55 points to close at 28,062.45.

Underperforming the Sensex, BSE Mid Cap did rise by 0.16 per cent while Small Cap added 0.03 per cent.

Positive sentiments, foreign institutional investors (FII), neutral global outlook, future and options (F&O) and domestic institutional investors (DIIs) cues hint that the short-term trend of the Indian market will remain positive on August 9, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 9:
11,400 and 28,000 are going to be the deciding levels on NIfty and BankNifty. 
Small trade range on Nifty is going to be between 11,350 -11,500, while 11,300-11,550 will be the bigger trade range.
In the case of BankNifty, the small trade range stands at 27,850-28,200 while 27,700-28,300 will be treated as the bigger range.
If Nifty and BankNifty start trading below the mark of 11,350 and 27,850 then it should be considered as the first sign of fall in the market. 
Important support zone on Nifty and BankNifty lies at 11,325-11,350 and 27,750-27,850 respectively. 
Put Call Ratio (PCR) is at 1.77 and thus traders are advised to be on an alert. 

Buy and Sell Strategy on Nifty
Buy Nifty in 11375-11400 range with a stop loss of 11,350 and a target of 11,450-11,475.  
Sell Nifty near 11500 with a stop loss of 11,550 and a target of 11,450-11,425-11,400. 

Buy and Sell Strategy on BankNifty
Buy BankNifty in 27800-27900 range with a stop loss of 27,750 and a target of 28,000. 
Sell BankNifty near 28,200 with a stop loss of 28,300 and a target of 28,000. 

The put-call ratio (PCR) for August 9 stands at 1.77 and the volatility index (VIX) is 12.54.

Watch this Zee Business video here:

Sectors:
Positive: Metals, Oil & Gas, Oil Marketing Cos. 

Enter or out of F&O Ban: Nil
Already in Ban: Adani Enterprises, Adani Power, Jet Airways, PNB.

Results Impact:
HPCL: Target of 294 with stop loss 280 Good results and sharp fall in crude.
Indian Bank: Strong results, Short covering expected, target 365-370.

Stock of the Day:
NALCO: Strong results Target 69.50 to 71.