Anil Singhvi's Market Strategy September 5: IT, Pharma are positive, Banks, NBFC, Metals & Cement are negative

The benchmark domestic indices closed with losses for the second day on September 4, 2018. Amid mixed global stocks, the S&P BSE Sensex lost 154.60 points or 0.40 per cent to close at 38,157.92. The Nifty50 at the National Stock Exchange also declined 62.05 points, or 0.54 per cent, to 11,520.30. 

However, neutral global outlook, domestic institutional investors (DIIs) and negative future and options (F&O), foreign institutional investors (FII) cues suggest that the short-term trend of the market will be negative on September 5, 2018. Traders are advised to be cautious while trading in the market today.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 5: 
Weak Global markets, Falling Rupee, Rising crude to limit upside.
Sell on rise strategy till Nifty again crosses 11650.
Deciding level on Nifty and BankNifty stands at 11,500 and 27,500 respectively. 
Small and bigger trading range on Nifty lies between 11,450 -11,600 and 11,400-11,650.
In the case of BankNifty, the small trading range lies at 27,250-27,650 and the bigger range between 27,000-27,800.
Traders can increase their buying positions on Nifty and BankNifty if they close above the mark of  11,650 and 27,800 respectively. 

Sell and Buy Strategy on Nifty
Sell Nifty with a stop loss of 11,600 and a target of 11,450-11,425-11,400.
Buy Nifty near 11,400 with a stop loss of 11,375 and a target of 11,450. 

Sell Strategy on BankNifty
Sell BankNifty with a stop loss of 27,650 and target of 27,250-27,000. 

The put-call ratio (PCR) today stands at 1.45 and the volatility index (VIX) is 13.78.

Watch this Zee Business video here:

 
Sectors:
Negative: Banks, NBFC, Metals, Cement
Positive: IT, Pharma buy on dips
 
Enters F&O Ban: Adani Enterprises

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