Anil Singhvi's Market Strategy for July 24: Positive on paints, FMCG; L&T stock of the day

Neutral global, foreign institutional investors(FII), domestic institutional investors (DIIs) and future and option (F&O) cues hinted that the short-term trend in the market is going to be positive on July 24, 2018.

Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty close below 10,950 and 26,775.

Supported by a number of positive cues, the Indian stock market on Monday closed in a green. The S&P BSE Sensex closed at 36,718.60, gaining 222.23 points or 0.61 per cent, while Nifty50 finished 74.55 points or 0.68 per cent higher at 11,084.75. Similarly, NiftyBank closed 134.95 points or 0.50 per cent higher than the previous closing mark to close at 27,008.15.

Neutral global, foreign institutional investors(FII), domestic institutional investors (DIIs) and future and option (F&O) cues hinted that the short-term trend in the market is going to be positive on July 24, 2018. But, the traders are advised to be cautious while trading in the market.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 24:

11,100 and 27,000 are going to be the deciding level on Nifty and BankNifty.

Small trade range on Nifty lies between 11,000-11,125 and the bigger range stands at 10,950-11,175.

In the case of BankNifty, the small trading range stands at 26,875-27,175 and the bigger range lies between 26,725-27,250.

Important support zone on Nifty and BankNifty stands between 11,000-11,025 and 26,725-26,875.

However, Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty close below 10,950 and 26,775.

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Buy and Sell Strategy on Nifty

Buy Nifty with a stop loss of 11,000 and a target of 11,125-11,150-11,175.

Sell Nifty near 11,115 with a stop loss of 11,200 and a target of 11,100.

Buy and Sell Strategy on BankNifty

Buy BankNifty with a stop loss of 26,875 and a target of 27,150-27,250.

Sell BankNifty near 27250 with a stop loss of 27350 and target of 27,150-27,050.

The put-call ratio (PCR) for July 24 stands at 1.80 and the volatility index (VIX) is 13.05.

Positives: Paints, FMCG,
Entry or Out of F&O Ban: Nil
Already in Ban: Adani Ent., Adani Power
Stock of the Day: Buy L&T stop loss 1265 Target 1295-1310

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