Anil Singhvi’s Strategy July 12: Market Trend is Neutral; Buy Infosys Futures with Stop Loss 717

Amid positive domestic institutional investors (DIIs), neutral global market and 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 Friday, July 12, 2019, while sentiment is cautious.

Earlier on Thursday, July 11, 2019, benchmark domestic indices closed with gains of around 0.7 per cent. Sensex and Nifty, both, logged gains amid strong cues from global markets after US Federal Reserve Chairman Jerome Powell hinted at a rate cut soon. Sensex at Bombay Stock Exchange climbed 266.07 points (0.69%) to end at 38,823.11. Nifty at National Stock Exchange also surged 84 points (0.73%) to settle at 11,582.90 and Bank Nifty gained 194.45 points (0.64%) to end at 30,716.55. 

See Anil Singhvi's tweet below:

#MarketStrategy | कारोबारी हफ्ते के आखिरी दिन पढ़िए #Nifty और #BankNifty पर अनिल सिंघवी की दमदार रणनीति।@AnilSinghviZEE pic.twitter.com/uPQ1A9O43A

— Zee Business (@ZeeBusiness) July 12, 2019

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 12:
The small day range for trading on Nifty stands at 11,550-11,600 while the medium and bigger range lies between 11,525-11,625 and 11,475-11,650. 
The small day range for trading on Bank Nifty stands at 30,575-30,800 while the medium and bigger range lies between 30,425-30,950 and 30,350-31,050. 

For Existing Long Positions:
Nifty intraday and closing stop loss 11,500.
Bank Nifty intraday and closing stop loss 30,500.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,625
Bank Nifty intraday and closing stop loss 30,800. 

For New Positions:
Buy Nifty with a stop loss of 11,500 and target 11,625,11,650, 11,700. 
Sell Nifty in 11,650-11,700 range with a stop loss of 11,725 and target 11,600. 
Buy Bank Nifty with a stop loss of 30,500 and target 30,800, 30,900, 30,950. 
Sell Bank Nifty near 30,950 with a stop loss of 31,050 and target 30,800, 30,750. 

Put-Call Ratio (PCR) 1.25, and the volatility index (VIX) 12.47 very low.

4 Already in F&O Ban: Reliance Capital, DHFL, IDBI and Reliance Infrastructure.

Stock of the Day:
Buy Infosys Futures: Stop loss 717 and target 735, 740, 755. Buying and short-covering expected before results.