Anil Singhvi’s Strategy February 5: Buy OMC, High dividend PSU stocks & Metals on dips; Sell Tata Global Futures with Stop Loss 385

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs) & sentiments and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral today, on Wednesday, February 4, 2020.

The domestic markets ended with robust gains on Tuesday, February 4, 2020. The gains were supported by the steep slide in crude oil prices and positive global shares. The Sensex at the Bombay Stock today zoomed 917.07 points, or 2.30 per cent, to end at 40,789.38. The Nifty 50 at the National Stock exchange rallied 271.75 points, or 2.32 per cent, to close at 11,979.65. Bank Nifty gained 663.45 points, or 2.21 per cent, to settle at 30,686.70. In the broader market, the S&P BSE Mid-Cap index rose 1.07 per cent while the S&P BSE Small-Cap index gained 0.09 per cent. There were more sellers than buyers.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 5:

The small day range for trading on Nifty is 11,950-12,025, while the medium and bigger ranges are 11,900-12,050 and 11,800-12,100 respectively.

The small day range for trading on Bank Nifty is 30,525-30,775, while the medium and bigger ranges are 30,200-30,850 and 30,100-31,000 respectively.

Put-Call Ratio (PCR) 1.24 and volatility index (VIX) down 9% to 14.38

For Existing Long Positions:

Nifty intraday and closing stop loss 11,940.

Bank Nifty intraday and closing stop loss 30,500.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,050

Bank Nifty intraday and closing stop loss 30,800.

For New Positions:

Buy Nifty near 11950 with a stop loss of 11,900 and target 12,025, 12,050, 12,100.

Sell Nifty in 12,050-12,100 range with a stop loss of 12,175 and target 12,000, 11,975, 11,950.

Buy Bank Nifty near 30,500 with a stop loss of 30,450 and target 30,650, 30,750, 30,850.

Sell Bank Nifty in 30,900-31,000 range with a stop loss of 31,100 and target 30,800, 30,700, 30,550.

No stock in F&O Ban

Sectors:
Positive: OMC, High dividend PSU stocks and Metals buy on dips.

Result Review:
Bharti Airtel: Strong results as expected. Book Profit at a higher level. Futures Range 500-505 to 535. Above 535, super strong.

See Zee Business Live TV Streaming Below:

Stock of the Day:

Sell Tata Global Futures: Stop loss 385 and target 375, 365, 355. Results operationally weaker than estimates. Topline growth only 4%.