Anil Singhvi's Market Strategy for July 18: OMC, Banks are positive; HDFC MF, TCNS IPOs are stocks of the day

Domestic Indian market closed in a green on Tuesday after witnessing sharp losses on Monday. The S&P BSE Sensex ended with a gain of 196.19 points (0.54%) to close at 36,519.96 and Nifty 50 ended at 11,008.05 points by seeing a rise of 71.20 points (0.65%). Similarly, the BankNifty also closed with a gain of 328.30 points (1.23%) to end at 27,008.10. 

Positive global, domestic institutional investors (DIIs), sentiment, neutral futures and options (F&O) and negative foreign institutional investors(FII) cues hint that the short term domestic market of the Indian market is going to be positive on July 18, 2018. 

Strong global markets, weak crude, strong rupee and strong results are positive triggers in the market. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 18

11,000 and 27,000 are deciding level on Nifty and BankNifty. 

Small trade range on Nifty stands at 10975-11075, while the bigger range lies between 10,925-11,125. 

In the case of BankNifty, the small trade range lies between 26,900-27,150 and the bigger range stands at 26,800-27,250. 

Strong support zone on Nifty and BankNifty lies between 10,925-10,950 and 26,650-26,900 respectively. 

However, Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty close below 10,935 and 26,650. 

Buy and Sell Strategy for Nifty

Buy Nifty with a stop loss of 10,975 and a target of 11,075-11,000-11,125. 

Sell Nifty in 11100-11125 range with a stop loss of 11,150 and a target of 11,075-11,025. 

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Buy Strategy for BankNifty

Buy BankNifty with a stop loss of 26,900 with a target of 27,150-27,200. 

The put-call ratio (PCR) for July 18 stands at 1.68 and the volatility index (VIX) is 12.82.

Positive: OMC, Banks

Enter F&O Ban: Adani Ent., Adani Power

Already in Ban: Jet Airways

Stock of the Day: HDFC MF, TCNS IPO