Amid positive Domestic Institutional Investors (DIIs) and foreign institutional investors (FII), neutral global and Futures and Options (F&O) cues, the short-term trend of the Indian market will be positive on Thursday, May 2, 2019, and sentiment is cautious.  

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Earlier, it was a roller-coaster ride for the markets on Tuesday, April 30, 2019, which ended on a flat note. Nifty 50 closed flat after shredding 6.55 points (0.06%) at 11,748.15 while the BSE Sensex was down by 35.75 points (0.09%) to close at 39,031.55. Similarly, Bank Nifty lost 248.70 points (0.83%) and settled at 29,764.80. 

See Anil Singhvi's Tweet below:

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 2: 
The small and medium trading ranges on Nifty lies between the mark of 11,700-11,800 and 11,650-11,850 respectively. The bigger range stands at 11,575-11,900. 
The small and medium trading ranges on Bank Nifty lies between the mark of 29,650-29,925 and 29,550-30,050. The bigger range stands at 29,450-30,150. 

For Existing Long Positions:
Nifty intraday and Closing stop loss 11,640. 
Bank Nifty intraday and Closing stop loss 29,550. 

For Existing Short Positions:
Nifty intraday and Closing stop loss 11,750. 
Bank Nifty intraday and Closing stop loss 30,050. 

For New Positions:
Buy Nifty in 11,700-11,725 range with a stop loss of 11,650 and target 11,800, 11,850. 
Sell Nifty near 11,850 with a stop loss of 11,900 and target 11,800.  

Buy Bank Nifty in 29,550-29,650 range with a stop loss of 29,450 and target 29,850, 29,925, 30,050.  
Sell Bank Nifty in 30,000-30,050 range with a stop loss of 30,150 and target 29,925, 29,850, 29,750. 

The put-call ratio (PCR) stands at 1.49 and the volatility index (VIX) is 21.83.

In F&O Ban: Nil

Sectors:
Negative: Auto

Result Analysis:
Ajanta pharma Futures: Results weak as expected but the stock may go up due to short covering. Buy in 975-980 range with stop loss 970 and target 1000, 1020. 
Sell Ambuja Futures: Stop loss 222 and target 215, 212. Margins weak, profit better due to other income. 

Stock of the Day: 
Sell TVS Motors Futures: Stop loss 492 and target 475, 465. Weak operational performance. 
Sell Jet Airways: Stop loss 155 and target 148, 140. Still no buyers for Jet stake. 

Aaj Ka Hero: 
Sell Maruti Futures: Stop loss 6725 and target 6550, 6525. 18% fall in April Sales.