Anil Singhvi’s Market Strategy October 22: PSU Banks, OMCs & Aviation sector are Positive

Indian stock markets closed in the red on Friday, October 19, 2018. Nifty 50 went down by 149.50 points or 1.43 per cent and closed at 10,303.55 while BankNifty ended down by 102.80 points or 0.41 per cent at 25,085.80. Similarly, S&P BSE Sensex ended lower 463.95 points or 1.33 per cent at 34,315.63. 

Amid positive global market, neutral domestic institutional investors (DIIs), future and option (F&O), negative foreign institutional investors (FII) and cautious sentiments, the short-term trend of the Indian market is set to be neutral on Monday, October 22, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 22: 

10,300 and 25,000 are going to be the deciding levels on Nifty and BankNifty respectively. 

The small trading range on Nifty lies at 10,250-10,375 while the bigger and extreme range resides between 10,200-10,450 and 10,135-10,500  respectively. 

In the case of BankNifty, the small range lies at 24,900-25,250 while the bigger and extreme range stands between 24,800-25,375 and 24,700-25,500 respectively. 

Traders are advised to reduce their buying positions if Nifty and BankNifty closes below the mark of 10,300 and 25,000. 

Watch Zee Business video here:

Buy and Sell strategy on Nifty

Buy Nifty with a stop loss of 10,250 and target of 10,375-10,400-10,450. 

Sell Nifty in 10,450-10,500 range with a stop loss of 10,550 and target of 10,400. 
 
Buy and Sell strategy on BankNifty

Buy BankNifty with a stop loss of 24,900 and target of 25,150-25,250-25,375. 

Sell BankNifty in 25,375-25,450 range with a stop loss of 25,600 and target 24,250. 
 
Enter or out of F&O Ban: Nil

Already In F&O Ban: Adani Power, DHFL, Jet Air
 
Put-call ratio (PCR) stands at 1.07 and the volatility index (VIX) is 19.79. 

Sectors:

Positive: PSU Banks, Oil Marketing Companies. Aviation
 
Result Analysis:

HDFC Bank: Results in-line

Stock of the Day:

Buy SBI Futures: ArcelorMittal won Essar Steel bid, SBI has appx. Rs.13000 crore exposure. Stop loss 258 and target 268-270. 

Buy Piramal Enterprises Futures: Stop loss 1870 and target 1950, 2000. The company has clarified that it has no exposure to troubled builders.