Anil Singhvi's Market Strategy October 25: NBFC is Negative; DHFL enters F&O ban list

Amid positive domestic institutional investors (DIIs), neutral future and option (F&O), negative global market & foreign institutional investors (FII) and weak sentiments, the short-term trend of the Indian market is set to be negative on Thursday.

The small trading range on Nifty stands at 10,100-10,225 while the bigger and the extreme range lies between 10,050-10,250 and 9,975-10,300. Image source: Zee Business

After a rollercoaster ride, Indian markets closed in the green on Wednesday, October 24, 2018. Nifty 50 went up by 77.95 points or 0.77% at 10,224.75 while BankNifty saw a rise of 91.75 points or 0.37% at 25,064.20. Posting positive results, the S&P BSE Sensex went up by 186.73 points or 0.55% to close at the mark of 34,033.96.

Amid positive domestic institutional investors (DIIs), neutral future and option (F&O), negative global market & foreign institutional investors (FII) and weak sentiments, the short-term trend of the Indian market is set to be negative on Thursday, October 25, 2018.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 25:

10,200 and 25,000 are the deciding levels on Nifty and BankNifty respectively.

The small trading range on Nifty stands at 10,100-10,225 while the bigger and the extreme range lies between 10,050-10,250 and 9,975-10,300.

Strong support zone on Nifty will be available at 9,975-10,050. So traders are advised to go for a cover short positions there.

The small trading range on BankNifty is available at 24,850-25,075 while the bigger and extreme ranges lie between 24,700-25,250 and 24,500-25,450 respectively.

Traders are advised to close their buying positions if BankNifty closes below the mark of 25,000.

However, they, the traders, can increase their buying positions if Nifty and BankNifty close above the mark of 10,300 and 25,500 respectively.

Sell and Buy Strategy on Nifty

Sell Nifty with a stop loss of 10,225 and target 10,125-10,100-10,050.

Buy Nifty in 10,000-10,050 range with a stop loss of 9,950 and target of 10100-10125-10200.

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Sell and Buy Strategy on BankNifty

Sell BankNifty with a stop loss of 25,250 and target of 24,900-24,850-24,700.

Buy BankNifty in 24,700-24,800 range with a stop loss of 24,500 and target of 25,000-25,075-25,200.

Enters F&O Ban: DHFL

Out of Ban: Nil

Already In Ban: Adani Enterprises and Adani Power

Put-call ratio (PCR) stands at 1.10 and the volatility index (VIX) is 18.88.

Sectors:

Negative: NBFC

Result Analysis:

Wipro: Margins good, guidance in line. May recover if opens gap down.

292-300 strong support zone, 318-320 higher levels

Indigo: Worst operational performance. Lower levels 800-785, higher level 835

Hexaware: Weak results. Support zone 330-335.

Stock of the Day:

Buy SKF: Stop loss of 1690 and target of 1750.

Buyback at Rs. 2100

Short L&T Fin Hold Futures: Stop loss 131 and target of 123, 121.

Excellent results but exposure to IL&FS 1800Cr. Supertech 800Cr.

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