Anil Singhvi’s Strategy February 11: Buy OMC buy on dips; Buy GAIL Futures with Stop Loss 119

Amid neutral global markets, foreign institutional investors (FIIs) & futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, February 11, 2020, while sentiment will be cautious.

Key equity market benchmarks ended with minor cuts for the second straight session on Monday, February 10, 2020. The Nifty managed to close above the crucial 12,000-mark. The sentiment was weak amid ongoing concerns around the coronavirus outbreak in China.

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The Sensex at the Bombay Stock Exchange dipped 162.23 points, or 0.39 per cent, to end at 40,979.62. The Nifty at the National Stock exchange lost 66.85 points, or 0.55 per cent, to 12,031.50. Likewise, Bank Nifty declined by 143.80 points, or 0.46 per cent, to 31,058.15. In the broader market, the BSE Midcap index fell 0.8 per cent and the Smallcap index shed 0.4 per cent.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 11:

The small day range for trading on Nifty is 12,000-12,075, while the medium and bigger ranges are 11,975-12,100 and 11,950-12,160 respectively.

The small day range for trading on Bank Nifty is 31,000-31,200, while the medium and bigger ranges are 30,900-31,300 and 30,800-31,350 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 30,950.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,100.

Bank Nifty intraday and closing stop loss 31,200.

For New Positions:

Buy Nifty with a stop loss of 11,950 and target 12,075, 12,100, 12,150, 12,200.

Sell Nifty in near 12,100-12,150 range with a stop loss of 12,200 and target 12,075, 12,025, 12,000.

Buy Bank Nifty with a stop loss of 30,900 and target 31,200, 31,300, 31,350, 31,450.

Sell Bank Nifty in 31,250-31,450 range with a stop loss of 31,500 and target 31,200, 31,100, 31,000.

Put-Call Ratio (PCR) is 1.32 and the volatility index (VIX) is 14.21.

Still In F&O Ban: Yes Bank

Sectors:

Positive: OMC buy on dips, Pharma.

Stock of the Day:

Buy GAIL Futures: Stop loss 119 and target 124, 126. Strong results, more upside expected.