Anil Singhvi’s Strategy August 9: Market trend is NEUTRAL, Buy Coal India futures with stop loss 210

Amid positive global market, sentiment, neutral futures and options (F&O), domestic institutional investors (DIIs) and foreign institutional investors (FIIs) cues, the short-term trend of the domestic Indian markets will be Neutral today, on Friday, August 9, 2019.

Earlier on Thursday, August 8, 2019, equity benchmarks bounced back more than one and a half a per cent amid positive global stocks. Sensex reclaimed 37,000 mark and Nifty regained 11,000 level. S&P BSE Sensex jumped 636.86 points or 1.74% to settle at 37,327.36. Similarly, the NSE Nifty climbed 176.95 points or 1.63% to 11,032.45 and Bank Nifty gained 408.40 points or 1.47% and closed at 28,110.45. This is the biggest single-session gain for both the key indices since May 20, when they had vaulted over 3.6 per cent.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 9:
11,000 and 28,000 are going to be the deciding levels on Nifty and Bank Nifty.
The small day range for trading on Nifty stands at 10,975-11,075 while the medium and bigger day range lies between 10,950-11,150 and 10,850-11,200.
The small and medium day range for trading on Bank Nifty lies between 27,950-28,350 and 27,700-28,500.

For Existing Long Positions:
Nifty intraday stop loss 10,950 and closing stop loss 10,850.
Bank Nifty intraday stop loss 27,900 and closing stop loss 27,650.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,075.
Bank Nifty intraday and closing stop loss 28,250.

For New Positions:
Buy Nifty with a stop loss of 10,950 and target 11,075, 11,125, 11,200.  
Sell Nifty in 11,200 range with a stop loss of 11,225 and target 11,150, 11,125, 11,075.
Buy Bank Nifty with a stop loss of 27,900 and target 28,225, 28,350, 28,500.
Sell Bank Nifty near 28,500 with a stop loss of 28,600 and target 28,350, 28,250.

The put-call ratio (PCR) is at 1.22 and the volatility index (VIX) is 16.09.

Stock of the Day:
Short Page Industries Cash: Stop loss 18,700 and target 18,000, 17,500, 17,100. It could eventually fall to 16,200. Horrible operational results and negative volume growth.

Aaj Ka Hero:
Buy Coal India Futures: Stop loss 210 and target 217, 220, 225. E-auction of coal at a price 65% higher price and strong results expected.