Anil Singhvi’s Market Strategy August 31: Sectors: Banks, Metals, Oil & Gas are negative; HCC is stock of the day

The S&P BSE Sensex at the Bombay Stock Exchange on August 30, 2018, fell by 32.83 points, or 0.08 per cent, to close at 38,690.10. The Nifty 50 at the National Stock Exchange also shed 15.10 points, or 0.13 per cent, to settle at 11,676.80, while Nifty Bank saw a decline of 120.85 points, or 0.43 per cent, to close at 28,103.25.
 
When it comes to secondary indices at the BSE, Mid Cap saw a rise of 0.43 per cent, and the Small Cap also up by 0.27 per cent. 
However, positive foreign institutional investors (FII), neutral future and options (F&O) and negative global outlook along with domestic institutional investors (DIIs) cues suggest that the short-term trend of Indian market will be neutral on August 31. Traders are advised to be cautious while trading in the market today. 
 
Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 31:  
The weal global markets, depreciating rupee and rising crude prices will limit the upside today. Sell on rising strategy till Nifty crosses 11760. 11,700 and 28,000 are going to be the deciding levels on Nifty and BankNifty. 
Small and bigger trading range on Nifty stands between 11,625 -11,700 and 11,600-11,750 respectively. 
In the case of BankNifty, the small and bigger trading range are lying between 27,950-28,150 and 27,800-28,250 respectively. 
Intraday support Zone on Nifty will be available at 11,600-11,625 and in case of BankNifty, it will be lying between 27,950-28,000. 
Intraday profit booking zone on Nifty and BankNifty lies between 11,700-11,725 and 28,150-28,200 respectively. 
Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below the mark of 11,575 and 28,000  respectively. 
 
Buy & Sell Strategy on Nifty 
Buy Nifty near 11,600 with the stop loss of 11,575 and target of 11,650-11,675.
Sell Nifty with the stop loss of 11,760 and a target of 11,625-11,600-11,575.  
 
Sell Strategy on BankNifty 
Sell BankNifty with a stop loss of 28,250 and the target of 28,000-27,950-27,800. 
 
The put-call ratio (PCR) today stands at 1.58 and the volatility index (VIX) is 12.41.

Watch this Zee Business video here:

 
Sectors
Negative: Banks, Metals, Oil & Gas
 
No stock in F&O Ban
Out of Ban: DHFL, IDBI, PNB
 
Stock of the Day
Sell HCC with a stop loss of 14.75 and a target of 13.25
Lavasa goes to NCLT, HCC holds 68% in Lavasa
 
Buy Yes Bank with a stop loss of 358 and target 370-375
Rana Kapoor get an extension from RBI for MD & CEO “till further notice” of Yes Bank