Anil Singhvi's Market Strategy October 16: Trend to be Neutral; Cement, Fertilizers and Chemicals are Positive today

After a subdued start in the first half of the day, Bulls pushed the markets higher in the second half and closed in Green on Monday, October 15, 2018. Nifty 50 closed up by 40 points or 0.38 per cent at 10,512.50 while S&P BSE Sensex closed at 34,865.10 points, up by 131.52 points or 0.38 per cent. 

With a close above 10,500 Nifty has renewed investors’ hopes who would now be closely watching for any further clues from the markets.

Amid positive domestic institutional investors (DIIs), neutral global market, future and option (F&O), foreign institutional investors (FII) cues, the short-term trend of the Indian market is likely to be neutral on October 16, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 16: 

10,500 and 25,400 are deciding levels on Nifty and BankNifty. 

10,460-10,550 and 10,400-10,600 are going to be the small and bigger trading range on Nifty. 

The small and bigger trading range on BankNifty lies at the mark of 25300-25500 small and 25150-25650 respectively. 

The best buy range on the two indices, Nifty and BankNifty lie between 10400-10425 and 25150-25300 respectively. 

Traders are advised to reduce their positions in the market if Nifty and BankNifty closes below 10,450 and 25,300. 

However, they, the traders, can increase their buying positions if the two indices close above the mark of 10,500 and 25,500. 

Sell and Buy Strategy on Nifty

Buy Nifty with a stop loss of 10,450 with a target of 10,550-10,575-10,600. 

Sell Nifty near 10,600 with a stop loss of 10,625 and target 10,525. 

Buy Strategy on BankNifty

Buy BankNifty with a stop loss of 25,300 and target 25,500-25,700. 
 
In F&O Ban: Adani Power, IDBI

Put-call ratio (PCR) stands at 1.20 and the volatility index (VIX) is 18.88. 

Watch This Zee Business Video

Sectors:

Positive: Cement, Fertilizers & Chemical
 
Result Analysis:

Indiabulls Housing: Results in-line, But short covering possible. Wait for a breakout from 930-980 futures range.
 
Stock of the Day:

Buy PNB Futures: Stop loss 66.50 and target 69, 70.50. PNB to sell Rs. 8000 crore non-core assets.