Anil Singhvis Strategy July 11: Buy IndusInd Bank futures with stop loss 1475; Sell IOC futures with stop loss 150
Amid positive DIIs, neutral global market, F&O and negative FII cues, the short-term trend of the domestic Indian markets will be neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive domestic institutional investors (DIIs), neutral global market, futures and options (F&O) and negative foreign institutional investors (FII) cues, the short-term trend of the domestic Indian markets will be neutral on Thursday, July 11, 2019, while sentiment is cautious.
Earlier on Wednesday, July 10, 2019, benchmark domestic indices, Sensex and Nifty, closed with losses amid mixed cues from global equities. Sensex at Bombay Stock Exchange lost 173.78 points (0.45%) to end at 38,557.04 while Nifty at National Stock Exchange also fell 57 points (0.49%) to settle at 11,498.90. Similarly, Bank Nifty declined 47.05 points (0.15%) to close at 30,522.10. The Nifty closed below the 11,500-mark for the first time since May 17, 2019.
See Anil Singhvi's tweet below:
Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 11:
The small and medium day range for trading on Nifty lies between 11,475-11,550 and 11,450-11,580. The bigger range stands at 11,400-11,625.
The small and medium day range for trading on Bank Nifty lies between 30,425-30,600 and 30,350-30,700. The bigger range stands at 30,250-30,850.
Put-Call Ratio (PCR) 0.85 oversold, and the volatility index (VIX) 13.63 very low.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,450.
Bank Nifty intraday stop loss 30,350 and closing 30,500.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,625.
Bank Nifty intraday and closing stop loss 30,750.
For New Positions:
Buy Nifty with a stop loss of 11,450 and target 11,550,11,575, 11,600.
Sell Nifty in 11,575-11,600 range with a stop loss of 11,650 and target 11,550, 11,500.
Buy Bank Nifty in 30,350-30,425 range with a stop loss of 30,200 and target 30,550, 30,700.
Sell Bank Nifty near 30,700 with a stop loss of 30,750 and target 30,600, 30,525.
Enter F&O Ban: IDBI and Reliance Infrastructure.
Already in Ban: Reliance Capital, DHFL
Stock of the Day:
Buy IndusInd Bank Futures: Stop loss 1475 and target 1505, 1515. Good results expected tomorrow.
Aaj Ka Hero:
Sell IOC Futures: Stop loss 150 and target 145, 142. There is a sharp rise in crude prices.
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