Amid positive foreign institutional investors (FII), domestic institutional investors (DIIs) and sentiments, neutral future and option (F&O) and negative global cues, the short-term trend of the Indian market will remain positive on Friday, February 8, 2019.

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The domestic Indian market, earlier on Thursday, February 7, 2019, closed almost flat. However, the key indices ended divergently. The S&P BSE Sensex fell 4.14 points to end at 36,971.09 while the Nifty 50 gained 6.95 points to settle at 11,069.40. Nifty Bank was down by 15.20 points and closed at 27,387.15. 

RBI in its MPC meeting has cut repo rate by 25 basis points to 6.25%.

Zee Entertainment (4.56%), Sun Pharma (4.13%), Eicher Motors (3.56%) and Bajaj Auto (3.01) were the top gainers on the Nifty, while losers include JSW Steel, Reliance Industries, L&T, Power Grid, HDFC and Hindalco. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 8:
11,000 and 27,300 are going to be the deciding level on Nifty and Bank Nifty. 

The small and medium trading on Nifty lies between 11,000-11,100 and 10,950-11,150 while the extreme range stands at 10,925-11,200. 

The small and medium trading range on Bank Nifty lies between 27,300-27,500 and 27,150-27,575 while the extreme range stands at 27,050-27,650. 

Traders are advised to reduce their buying positions of the two indices, Nifty and Bank Nifty if they close below the mark of 10,925 and 27,200. 

PCR stands at 1.78 and thus traders are advised to be on an alert at these higher levels. 

For Existing Positions:
Nifty stop loss 11,000 and target 11,100, 11,150. 

Bank Nifty stop loss 27,300 and target 27,450, 27,500, 27,575. 

For New Positions:
Buy Nifty near 11,000 with a stop loss of 10,950 and target 11,050, 11,075, 11,100. 

Sell Nifty in 11100-11150 range with a stop loss of 11,200 and target 11,050. 

Buy Bank Nifty in 27,150-27,250 range with a stop loss of 27,050 and target 27,350, 27,450, 27,500. 

Sell Bank Nifty in 27,550-27,650 range with a stop loss of 27,750 and target 27,450, 27,350. 

The put-call ratio (PCR) stands at 1.82 and the volatility index (VIX) is 15.63.  

Sectors:
Negative: Metals, Auto. 

Stock of the Day:

Sell Tata Motors Futures: Stop loss 185 and target 160, 155. Huge loss of Rs27,000 crore reported, Balance sheet destroyed, Demand outlook very poor. 

Sell Tata Motors DVR Futures: Stop loss 96 and target 88, 86

Aaj ka Hero:
Sell Britannia Futures: Stop loss 3235 and target 3125, 3100, 3080. Poor volume growth of 7% against expectations of 10%.