Anil Singhvis Market Strategy for July 27: neutral to negative on Bharti Airtel; Hindalco stock of the day
Strong sentiments, neutral global and neutral foreign institutional investors (FII), domestic institutional investors (DIIs) and future and option (F&O) cues suggest that the Indian market will continue its impressive bull run and remain positive on July 27, 2018.
The Indian stock market ended higher on Thursday with the benchmark Sensex racing to record highs for the fourth session in a row as robust June quarter results triggered fresh buying amid encouraging global cues. The Sensex ended 126.41 points, or 0.34 per cent higher at 36,984.64. Nifty also hit a record intra-day high of 11,185.85, before finishing at a new peak of 11,167.30, up 35.30 points, or 0.32 per cent.
Strong sentiments, neutral global and neutral foreign institutional investors (FII), domestic institutional investors (DIIs) and future and option (F&O) cues suggest that the Indian market will continue its impressive bull run and remain positive on July 27, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 27:
August Series is starting with very high OI and PCR at 1.72
The small trading range on Nifty stands at 11125-11200 and the bigger range lies between 11075-11250.
In the case of BankNifty, the small trading range will lie between 27200-27500, while 27100-27650 is going to be the bigger range.
Important support zone on Nifty and BankNifty lies at 11075-11100 and 27125-27200 respectively.
Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty close below 11,075 and 27,000.
Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss of 11075 and a target of 11175-11200-11250.
Sell Nifty above 11200 with a stop loss of 11,250 and a target of 11,175-11,150.
Buy and Sell Strategy on BankNifty
Buy BankNifty with a stop loss of 27150 with a target of 27500-27650.
Sell BankNifty with a stop loss of 27650 and target of 27250.
The put-call ratio (PCR) for July 27 stands at 1.72 and the volatility index (VIX) is 12.
In F&O Ban: Adani Ent
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Result Analysis:
ITC: In line, stock will trade in small range
Bharti Airtel: Neutral to negative, But short covering expected
Petronet LNG: Strong, book profit on gap up
Biocon: Neutral
Stock of the Day:
Sell Hindalco with a target range of 195-191 and stoploss of 206
Deal at higher valuation
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