Anil Singhvi’s Strategy August 21: Market trend is neutral; Sell Dr Reddy’s Futures with Stop Loss 2565

Amid neutral domestic institutional investors (DIIs) and futures and options (F&O), negative global market and foreign institutional investors (FIIs) cues the short-term trend of the domestic Indian markets will be Neutral on Wednesday, August 21, 2019, while sentiment is cautious.

Earlier on Tuesday, August 20, 2019, the benchmark indices ended lower in the volatile trading session. BSE Sensex lost 74.48 points or 0.20% and closed at 37,328.01. NSE Nifty finished below 11,050 level at 11,017 after losing 36.90 points or 0.33% while Bank Nifty was down by 203.65 points or 0.72% and settled at 27,982.45. Gains in IT and auto stocks were offset by weakness in banks stocks.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 21:
11,000 and 28,000 are the deciding levels on Nifty and Bank Nifty.
The small and medium trading range on Nifty lies between the mark of 10,975-11,075 and 10,850-11,150 respectively.
The small and medium trading range on Bank Nifty lies between the mark of 27,850-28,150 and 27,750-28,250 respectively while the bigger range resides at 27,550-28,400.

For Existing Long Positions:
Nifty intraday stop loss 10,975 and closing stop loss 11,000.
Bank Nifty intraday and a closing stop loss of 28,000 already triggered.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,125.
Bank Nifty intraday and closing stop loss 28,250.

For New Positions:
Sell Nifty near 11,075 with a stop loss of 11,150 and target 11,000, 10,925, 10,850.
Buy Nifty in 10,900-10,925 range with a stop loss of 10,850 and target 11,000, 11,050.
Sell Bank Nifty in 28,150-28,200 range with a stop loss of 28,250 and target 28,000, 27,850, 27,750.
Buy Bank Nifty near 27,750 with a stop loss of 27,700 and target 27,850, 27,950, 28,100.  
The put-call ratio (PCR) is at 1.12 and the volatility index (VIX) is 16.63.

2 stocks in F&O Ban: IDBI, DHFL

#BazaarKiBaat | जिस तरह सरकार ने राजनीतिक मोर्चे पर बड़े और कड़े फैसले लिए हैं उसी प्रकार सरकार को अर्थव्यवस्था और बाजार के लिए बड़े फैसले लेने होंगे: अनिल सिंघवी@AnilSinghviZEE @FinMinIndia @nsitharaman pic.twitter.com/eqnfNqiy4a

— Zee Business (@ZeeBusiness) August 21, 2019

Stock of the Day
Sell Dr Reddys Futures: Stop loss 2565 and target 2505, 2485. 8 observations by USFDA on its plant.

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Aaj Ka Hero
Buy SBI Futures: Stop loss 282 and target 288, 292. HSBC increases the target to 400.