Anil Singhvi’s Market Strategy August 3: Consumption, Pharma are positive; Sail is stock of the day

The Indian domestic stock market closed on a negative note on Thursday. The S&P BSE Sensex went down by 356.46 points (0.95%) to close at 37,165.16 and Nifty50 closed down by 101.50 points (0.89%) at 11,244.70. 

Neutral global, future and option (F&O) and negative foreign institutional investors (FII), and domestic institutional investors (DIIs) cues suggest that the short-term trend of the domestic market is going to be negative on Friday, .i.e. on August 3, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 3: 
11,300 and 27,400 are going to be a deciding level on Nifty and BankNifty respectively. 

Small trade range on Nifty lies at 11,200-11,325 while 11,175-11,350 will be the bigger trade range.

Trade range on BankNifty stands at 27,200-27,500. 

Important support zone on Nifty and BankNifty lies at 11,275-11,200 and 27,150-27,250. 

The mark of 11,325 and 27,500 on Nifty and BankNifty should be considered as the first signal of strengthening of the market. 

Anil Singhvi suggests that traders should reduce their buying positions on Nifty and BankNifty if they close below the mark of 11,175 and 27,400 respectively. 

The put-call ratio (PCR) stands at 1.65, positions of weak traders has gone down. 

Sell and Buy strategy on Nifty
Sell Nifty near 11325 with a stop loss of 11,365 and a target of 11,300-11,250.

Buy Nifty in 11175-11200 range with a stop loss of 11,150 and a target of 11,250.

Sell and Buy strategy on BankNifty
Sell BankNifty near 27500 with a stop loss of 27,600 and a target of 27,400-27,350.

Buy BankNifty with a stop loss of 27,250 and a target of 27,400-27,500.

The put-call ratio (PCR) for August 3 stands at 1.65 and the volatility index (VIX) is 12.55.

Enters F&O Ban: Adani Power

Watch this Zee Business video here:

Sectors:
Positive: Consumption, Pharma

Results Impact:
Ramco Cement: Poor results, Margins weak
ONGC: Below estimates

Stock of the Day:
Buy SAIL Target of 82, 83.50 with a stop loss of 79
Strong results expected, Book profit at higher levels