Anil Singhvi’s Strategy February 20: Market trend is Negative; Buy BSE with Stop Loss 535

Positive domestic institutional investors (DIIs), neutral global market, futures and options (F&O), foreign institutional investors (FII) and cautious sentiments suggest that the short-term trend of the Indian stock markets will remain negative on Wednesday, February 20, 2019.

Earlier on Tuesday, February 19, 2019, the domestic market stocks closed with losses for the ninth straight session amid weak global cues. The BSE Sensex declined 145.83 points, 0.41%, to end at 35,352.61 and the Nifty 50 fell 36.60 points, 0.34%, to settle at 10,604.35. However, Nifty Bank was up by 30.60 points, 0.11%, and closed at 26,684.85.

Vedanta Limited, Grasim, BPCL and Zee Entertainment were the top gainers of the day while Wipro, TCS and IndusInd Bank were the top losers. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 20:

10,600 and 26,600 are the deciding levels in Nifty and Bank Nifty respectively. 

10,600-10,700 is going to be the small trading range on Nifty, while the medium and extreme ranges lie between 10,550-10,725 and 10,500-10,750. 

In the case of Bank Nifty, the small trading range stands at 26,600-26,800 while the medium and extreme ranges lie between 26,500-26,900 and 26,400-27,050. 

For Existing Long Positions:

Stop loss already triggered in Nifty and Bank Nifty. 

For Existing short positions:

Nifty intraday stop loss 10,725 and closing stop loss 10,750. Target 10,550, 10,525. 

Bank Nifty intraday stop loss 26,850 and closing stop loss 27,000. Target 26,500, 26,450. 

Watch this Zee Business tweet video:

#FastMoney | जानिए इंट्राडे में कमाई कराने वाले 20 धमाकेदार शेयर संदीप ग्रोवर और रजत देवगन से। @devganrajat9 @sandeepgrover09 @AnilSinghviZEE pic.twitter.com/fzV43Inw8Y

— Zee Business (@ZeeBusiness) February 20, 2019

For New Positions:

Sell Nifty in 10,700-10,725 range with a stop loss of 10,775 and target 10,650, 10,625. 

Buy Nifty near 10,550 with a stop loss of 10,500 and target 10,600. 

Sell Bank Nifty in 26,950-27,000 range with a stop loss of 27,050 and target 26,800, 26,650. 

Buy Bank Nifty near 26,600 with a stop loss of 26,500 and target 26,800. 

The put-call ratio (PCR) stands at 1.12 and the volatility index (VIX) is 18.47.

Enter F&O Ban: Nil

Out of Ban: Jain Irrigation, CG Power

6 Already in Ban: Jet Airways, Reliance Power, Adani Enterprises, PC Jewellers, IDBI, Reliance Infrastructure. 

Stock of the Day:

Buy BSE: Stop loss 535 and target 560, 570. BSE to consider buyback on May 7.