Anil Singhvi's Market Strategy July 2: Auto sector is positive; TCS is Stock of the Day

Indian benchmark indices closed in a green on Friday, June 29, 2018, as the Nifty 50 ended 125.20 points (1.18%) higher at 10,714.30 and BankNifty closed 39.60 points (0.15%) high at 26,364.20. S&P BSE Sensex also jumped 385.84 points (1.10%) high to close at 35,423.48. 

Positive domestic Institutional Investors (DIIs), future and options (F&O), traders sentiment, neutral global outlook and foreign institutional investors (FII) cues suggest that the short-term trend of the Indian markets are going to be neutral on June 2, 2018.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 2:  

10,700 and 26,400 will be deciding levels on Nifty and BankNifty. 

Small trade range on Nifty stands between 10,650-10,750 and the bigger range lies between 10,600-10,800. 

In case of BankNifty, the small trade range lies between 26,300-26,500, while the bigger range will be at 26,150-26,650

Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,650 and 26,300 respectively. 

However, traders can initiate new trades on Nifty & BankNifty closes above the mark of 10,700 and 26,500. 

Buy and Sell Strategy on Nifty 

Buy Nifty with a stop loss of 10,650 with a target of 10,750-10,775. 
Sell Nifty in the range of 10,775-10,800 with a stop loss of 10,825 and a target of 10,750. 

Buy and Sell Strategy on BankNifty 

Buy BankNifty with a stop loss of 26,250 and a target of 26,450-26,500-26,550
Sell BankNifty in the range of 26,500-26,600 with a stop loss of 26,650 and a target of 26,400. 

The put-call ratio (PCR) for June 20 stands at 1.48 and volatility index (VIX) is 12.94.

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Positive: Auto

No stocks in Ban

Stock of the day: TCS