Anil Singhvi's Market Strategy September 28: Oil & Gas, OMC are positive; HPCL cash is stock of the day

Extending previous session losses amid almost negative global shares, the benchmark domestic indices closed in the negative mark on Thursday, September 27, 2018. On the day, the S&P BSE Sensex slipped 0.60 per cent of or 218.10 points to 36,324.17. The Nifty at the National Stock Exchange also fell 0.69 per cent or 76.25 points to 10,977.55. 

Similarly, the Nifty Bank also lost 1.32 per cent or 334.15 points to close at 25,042.15. In secondary indices at BSE, Mid Cap plunged 2.19 per cent and Small Cap index declined 1.97 per cent.

Amid neutral domestic institutional investors (DIIs), global market, future and option (F&O), foreign institutional investors (FII) sentiments, the short-term trend of the Indian market will continue to be negative on September 28, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 28: 
Markets are light at the start of the new series and are ready for a bounce-back as weak traders are out from the race. 

Deciding level on Nifty and BankNifty stands at the mark of 11,000 and 25,000 respectively. 

10,950-11,075 and 10,875-11,150 are going to be the small and bigger range for trade on Nifty. 

 In the case of BankNifty, the small trading range stands at the mark of 24,900-25,200 while the bigger range lies between 24700-25450. 

 The support-range for today on the two indices, Nifty and BankNifty, stands between 10,950-10,975 and 25,000-25,050 respectively. 

The selling zone for today on the twoindices lies between 11,075-11,150 and 25,350-25,450.  

Traders can increase their buying positions on Nifty and BankNifty if the two indices close above the mark of 11,110 and 25,400. 

Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss of 10,950 and target of 11,075-11,100-11,150. 

Sell Nifty in the range of 11,100-11,150 with a stop loss of 11,200 and target 11,075-11,000. 

Buy and Sell Strategy on BankNifty
Buy BankNifty with a stop loss of 24,900 and target 25,200-25,350-25,400. 

Sell BankNifty in 25450-25500 range with a stop loss of 25,600 and target 25,350-25,200. 

The put-call ratio (PCR) stands at 1.35 and the volatility index (VIX) is 16.92. 

Sectors:
Positive: Oil & Gas, OMC

Out of Ban at the start of series: Adani Power, Jet Airways, PNB
 
Stock of the Day:
Buy HPCL Cash: Stop loss 244 and target 252, 255, 260

Buy GAIL Cash: Stop loss 372 and target 382, 388