Anil Singhvi's Market Strategy for July 12: Short-term trend of the market positive; OMC, Aviation are positive
Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below 10,850 and 26,750.
The benchmark Sensex on July 11, 2018, rose by 26.31 points or 0.07 per cent to close at 36,265.93 while NSE Nifty 50 gained 1.05 points or 0.01 per cent to end at 10,948.30. On the other hand, the BankNifty crawled down by 78.35 points or 0.29 per cent to close in a red at 26,816.20.
But the positive foreign institutional investors (FII), sentiments, neutral domestic institutional investors (DIIs) and future and option (F&O) and global outlook hint that the short-term trend of the domestic market is going to be positive on July 12, 2018. Crude prices, Rupees value and higher PCR are an important trigger of the market.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 12:
10,950 and 26,800 are going to be the deciding level on the Nifty and BankNifty.
Small trade range on Nifty stands at 10,925-11,000 and the bigger range lies between 10,875-11,050.
Small trade range on BankNifty lies between 26,750-26,950 and the bigger range resides between 26,650-27,100.
Strong support zone on Nifty and BankNifty lies between 10,875-10,925 and 26,650-26,800 respectively.
However, Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below 10,850 and 26,750.
The Put-call ratio (PCR) which stands at 1.67 is overbought and traders should be alert at higher levels.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,900 and a target of 11,000-11,025-11,050.
Sell Nifty in the range of 11,025-11,050 with a stop loss of 11,100 with a target of 11,000-10,975.
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Buy and Sell strategy on BankNifty
Buy BankNifty with a stop loss of 26,675 with a target of 26,950-27,000-27,100.
Sell BankNifty in 27000-27100 range with a stop loss of 27,150 with a target of 26,900.
The put-call ratio (PCR) for July 12 stands at 1.66 and the volatility index (VIX) is 12.39.
Positive: OMC, Aviation
In F&O Ban: IDBI
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