Anil Singhvi’s Strategy July 1: Market Trend & Sentiment are Positive; Buy Maruti Futures with Stop Loss 6540

Amid positive global markets and sentiment, neutral domestic institutional investors (DIIs) and futures and options (F&O) and negative foreign institutional investors (FII) cues, the short-term trend of the domestic Indian market will be positive on Monday, July 1, 2019. Earlier on Friday, June 28, 2019, domestic markets closed in Red and both indices, the Sensex and Nifty, declined around half a per cent amid negative cues from Asian stocks. Sensex at Bombay Stock Exchange fell 191.77 points (0.48%) to settle at 39,394.64. Nifty at National Stock Exchange also slipped 52.70 points (0.45%) to 11,788.85. Bank Nifty also lost 164.30 points (0.53%) to settle at 31,105.20. GAIL (up 1.70%) and Bajaj Finserv (up 1.26%) were the top gainers of the day while Yes Bank (down by 3.47%), Indiabulls Housing (down by 3.26%) and Bharti Infratel (down by 3.09%), were the top losers of the day. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 1: 

Nifty stuck in 300 points intraday trading range 11,625-11,925 and 200 points 11,650-11,850 range on closing basis.
Breakout in any direction will give a big move. More chances of a higher breakout. 11,800 and 31,150 are the deciding levels on Nifty and Bank Nifty respectively. 
The small and medium day range for trading on Nifty lies between the mark of 11,725-11,825 and 11,700-11,850. The bigger range stands at 11,650-11,900. 
The small and medium day range for trading on Bank Nifty lies between the mark of 31,050-31,250 and 30,900-31,300. The gigger range stands at 30,800-31,500. 

For Existing Long Positions:

Nifty intraday stop loss 11,725 and closing stop loss 11,690. 
Bank Nifty intraday and closing basis stop loss 31,000. 

For Existing Short Positions:

Nifty intraday stop loss 11925 and closing stop loss 11,850.
Bank Nifty intraday and closing stop loss 31,300.

For New Positions:

Buy Nifty in 11700-11750 range with a stop loss of 11,650 and target 11,800, 11,825, 11,900.
Sell Nifty near 11,900 with a stop loss of 11,925 and target 11,850, 11,825. 
Buy Bank Nifty in 31,050-31,100 range with a stop loss of 30,900 and target 31,250, 31,300, 31,450
Sell Bank Nifty in 31,450-31,500 range with a stop loss of 31,550 and target 31,300, 31,150. 

Enters F&O Ban: DHFL

The put-call ratio (PCR) stands at 1.29 and the volatility index (VIX) is 14.95.

Stock of the Day:

Sell Reliance Capital Cash: Stop loss 67 and target 64, 62. It’s subsidiary Reliance Home Finance deferred payment of NCDs of Rs400 Crores by 4 months. 
Sell DHFL Cash: Stop loss 73 and target 69, 67. 

Aaj ka Hero:

Buy Maruti Futures: Stop loss 6540 and target 6640, 6685, 6700. Monthly sales numbers could be as per expectations, short covering expected. Don’t buy if it opens with a big gap up.