Anil Singhvi's Market Strategy July 6: OMCs positive; Varroc Engineering is stock of the day

Domestic stock markets closed in red on July 5, 2018, after turning volatile amid weak global cues. Investors were cautious ahead of a deadline when tariffs from the US and China are due to be enforced. The S&P BSE Sensex, lost 70.85 points (0.20%) to close at 35,574.55 while the Nifty slipped 20.15 points (0.19%) to close at at 10,749.75.  

Anil Singhvi's Market Strategy July 6: OMCs positive; Varroc Engineering is stock of the day
Domestic stock markets closed in red on July 5, 2018, after turning volatile amid weak global cues. Image source: Youtube
By ZeeBiz WebTeam
Updated: Fri, Jul 06, 2018
09:08 am
ZeeBiz WebDesk
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Domestic stock markets closed in red on July 5, 2018, after turning volatile amid weak global cues. Investors were cautious ahead of a deadline when tariffs from the US and China are due to be enforced. The S&P BSE Sensex, lost 70.85 points (0.20%) to close at 35,574.55 while the Nifty slipped 20.15 points (0.19%) to close at at 10,749.75. On the other hand, BankNifty ended in the green as it went up by 69.35 points (+0.26%) to close at 26,503.30. 

But positive future and options (F&O), neutral global outlook, domestic institutional investors (DIIs), foreign institutional investors (FII) cues suggests that the domestic market trend is going to be positive on July 6, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 22: 
Small trade range on Nifty is going to be between 10,700 and 10,800, while 10,650-10,825 will be the bigger trade range.
26,500 is going to be a deciding level on BankNifty. 
In the case of BankNifty, the small trade range stands at 26,400-26,600 while 26,300-26,650 will be the bigger range for trading.
Anil Singhvi suggests that traders should reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,700 and 26,350 respectively. However, the traders should end their positions if Nifty and BankNifty close below the mark of 10,650 and 26,200. 

Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss (SL) of 10700 and a target of 10775-10800-10825.
Sell Nifty in 10,800-10,825 range with the stop loss of 10,850 and a target of 10,775-10,750.

Watch this Zee Business video here:

Buy and Sell Strategy on BankNifty
Buy BankNifty with a stop loss of 26,350 and a target of 26,600-26,650. 
Sell BankNifty in the range of 26,600-26,650 range with a stop loss of 26700 and a target of 26,500. 

The put-call ratio (PCR) for July 6 stands at 1.51 and the volatility index (VIX) is 12.57. 

Positive: OMC

No stocks in Ban

Stock of the day: Varroc Engineering 

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