Anil Singhvi’s Strategy July 24: Market Trend & Sentiment are negative; Buy Jubilant Food Futures with Stop Loss 1200

Amid positive domestic institutional investors (DIIs) and global markets, neutral futures and options (F&O), negative foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the domestic Indian markets will be Negative on Wednesday, July 24, 2019. 

Earlier on Tuesday, July 23, 2019, the key equity benchmarks closed with modest losses amid heavy selling by the foreign institutional investors (FIIs). Sensex at Bombay Stock Exchange lost 48.39 points or 0.13 per cent to settle at 37,982.74. Nifty at National Stock Exchange also fell 15.15 points or 0.13 per cent to end at 11,331.05 and Bank Nifty slipped 156.85 points or 0.54 per cent and closed at 29,128.10. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 24:
Small day range for trading on Nifty stands at 11,300-11,400 while the medium and bigger ranges lie between 11,250-11,425 and 11,200-11,500. 
Small and medium day range for trading on Bank Nifty lies between 29,075-29,350 and 29,000-29,500.
Below 29,000 bigger down risk opens. Higher range 29,600-29,750.

For Existing Long Positions:
Nifty intraday and closing stop loss 11,300. 
Bank Nifty intraday and closing stop loss 29,000. 

For Existing Short Positions:
Nifty intraday and closing stop loss 11,425
Bank Nifty intraday stop loss 29,400 and closing stop loss 29,500. 

For New Positions:
Sell Nifty in 11,400-11,425 range with a stop loss of 11,450 and target 11,350, 11,300. 
Buy Nifty near 11,300 with a stop loss of 11,250 and target 11,350, 11,375. 
Sell Bank Nifty in 29,350-29,500 range with a stop loss of 29,650 and target 29,200, 29,100. 
Buy Bank Nifty in 29,000-29,050 range with a stop loss of 28,950 and target 29,200, 29,275, 29,350. 

The put-call ratio (PCR) stands at 1.06 and the volatility index (VIX) is 13.43.

Out of F&O Ban: Reliance Infrastructure, DHFL

2 already in Ban: Dish TV, IDBI

Result Analysis:

Buy Torrent Pharma Futures: Short covering expected. Stop Loss 1425 with target 1480, 1500. 

Sell L&T Futures: Mixed results, Infra segment performance weak. Keep strict stop loss 1425 with target 1390, 1380. Week operational performance, Strong support near 1365. 

HUL Futures: Mixed results, Volumes growth in line, margins positive, outlook cautious. Support near 1660, Higher level 1740.  

#FastMoney | जानिए आज इंट्रा-डे ट्रेडिंग में बाजार की पिच पर धमाल मचाने वाले 20 धमाकेदार कॉल।

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— Zee Business (@ZeeBusiness) July 24, 2019

Stock of the Day: Buy BF Utilities Cash: Karnataka political development positive for Company. Stop Loss 220 with target 235, 250, 265. 

Aaj ka Hero: Buy Jubilant Food Futures: Pre-result buying, and short covering expected. Stop Loss 1200 and target 1245, 1255, 1260.