Anil Singhvi's Market Strategy October 12: Oil & Gas, Aviation are Positive, Metals Negative

In tandem with the weakness in the global markets, the Indian stock markets closed in the red on October 11, 2018. Nifty closed down by 225.45 points or 2.16 per cent at 10,234.65 while S&P BSE Sensex was down by over 759.74 points or 2.19 per cent to close at 34,001.15. 

OMCs gained handsomely with HPCL gaining by over 16.21 per cent while IOC gained 5.77 per cent and BPCL gained 4.84 per cent. However, NBFCs were hammered once again after a brief respite yesterday and Bajaj Finserv and Indiabulls Housing were down by 6.20 per cent and 9.12 per cent.

Amid positive domestic institutional investors (DIIs), neutral future and option (F&O), global market, negative foreign institutional investors (FII) and weak sentiment cues, the short-term trend of the Indian market is likely to be negative on October 12, 2018, the last day of the week to trade in the market.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 12: 

Nifty broke stop loss level on intraday and closing basis yesterday.

10,250 and 24,750 are going to be the deciding levels on Nifty and BankNifty. 

The small trading range on Nifty stands at 10,135-10,335 while the bigger and extreme trading range lies between 10,050-10,400 and 9,950-10,500 respectively. 

The small and bigger trading range in the case of BankNifty lies in the range of 24,500-25,000 and 24,250-25,300. 

Risk of a fall up to 24,000 can be seen in coming days if BankNifty breaks below 24,250 on the intraday basis or closes below the mark of 24,400. 

Traders can increase their buying positions on the two indices, Nifty and BankNifty close above the mark of 10,500 and 25,000 respectively.  

#ZBizView | #StockOftheDay में किन शेयरों पर दी @AnilSinghviZEE ने खरीद की राय और खबरों के दम पर आज फोकस में रहने वाले शेयर। @deepaliranaa @poojat_0211 @SumitResearch @devganrajat9 pic.twitter.com/2Dr1yQZQ7g

— Zee Business (@ZeeBusiness) October 12, 2018

Buy and Sell Strategy on Nifty 

Buy Nifty with a stop loss of 10,135 and target of 10,300-10,350-10,400.

Sell Nifty in 10,400-10,475 range with stop loss 10,500 and target 10,350-10,300. 
 
Buy and Sell Strategy on BankNifty 

Buy BankNifty with a stop loss of 24,500 and target 24,950-25,200-25,300. 

Sell BankNifty in 25000-25200 range with a stop loss 25,350 and target 24,950-24,750. 

In F&O Ban: IDBI
 
The put-call ratio (PCR) stands at 1.08 and the volatility index (VIX) is 20.55. 
 
Sectors:

Positive: Oil & Gas, Aviation

Negative: Metals
 
Result Analysis:

TCS: Results in-line, Commentary very good, double-digit growth due to a weak rupee. 1850-1900 buy zone and 2100 is the higher range.

Stock of the Day: 

Buy IOC Futures: Stop loss of 129 and target 134, 137

Buy Spicejet: Stop loss 69 and target 72.50, 74