Anil Singhvi’s Market Strategy August 8: Market is Positive; Adani Enterprises stock of the day

Sensex closed with marginal losses on Tuesday while Nifty remained almost flat even as global markets showed strength. Amid volatile trade, S&P BSE Sensex slipped 0.07 per cent or 26.09 points to 37,665.80. Nifty 50 added 0.02 per cent or 2.35 points to 11,389.45 and the Nifty Bank slipped down 0.08 per cent or 22.60 points to close at 27,875.90. 

On the other hand, underperforming the Sensex, BSE Mid Cap lost 0.18 per cent while Small Cap fell 0.22 per cent.

Positive sentiments, global outlook, foreign institutional investors (FII), neutral future and options (F&O) and negative domestic institutional investors (DIIs) cues, hints that the short-term trend of the Indian market will remain positive on August 8, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 8:
Deciding level at Nifty and BankNifty stands at 11,400 and 27,900 respectively. 
Small trade range on Nifty lies at 11,350-11,425 while 11,300-11,475 will be the bigger trade range. 
In the case of BankNifty, the small trade range lies at 27,750-28,000 and the bigger range will be between 27,600-28,150.  
Important support zone on Nifty and BankNifty lies at 11,300-11,325 and 27,600-27,700 respectively.
If Nifty and BankNifty start trading below 11,350 and 27,800 then this mark should be considered as the first signal of fall in the market. 

Anil Singhvi suggests traders to reduce their buying positions on Nifty and BankNifty if they close below the mark of 11,350 and 27,700 respectively. However, the traders should end their positions if Nifty and BankNifty close below the mark of 11,250 and 27,700. 

Put Call Ratio (PCR) is at 1.68 and thus traders are advised to be on an alert. 

Buy and Sell strategy on NIfty
Sell Nifty with a stop loss of 11,475 and a target of 11,375-11,350-11,300. 
Buy Nifty in 11,325-11,350 range with the stop loss of 11,300 and a target of 11,400. 

Buy and Sell strategy on BankNIfty
Sell BankNifty with a stop loss of 28,050 and target of 27,800-27,750-27,700. 
Buy BankNifty near 27,700-27,750 range with a stop loss of 27,600 and a target of 27,800-27,850. 

The put-call ratio (PCR) for August 8 stands at 1.68 and the volatility index (VIX) is 12.58.
Enter of F&O Ban: Adani Enterprises, PNB
Already in Ban: Adani Power, Jet Airways

Results Impact:
SRF: Strong results, book profit at higher levels
PTC: Weak results

Watch this Zee Business video here:

Stock of the Day: Sell Adani Enterprises with a target of 180, 170, 165 and a stop loss of 197. 
Adani Enterprises: Sales and Profit below estimates, Margins also weak after adjustments

IPO: Credit Access Gramin Issue Price 418-422. Good company with strong fundamentals but Valuations expensive. 

Avoid for listing gains
Only High-risk investors apply for very long-term