Anil Singhvi’s Strategy June 24: Auto and FMCG sectors are Negative; Buy IndusInd Bank Futures with Stop Loss 1440

Amid positive domestic institutional investors (DIIs), neutral global market and futures and options (F&O), negative foreign institutional investors (FII) cues, the short-term trend of the domestic Indian market will be neutral on Monday, June 24, 2019, the sentiment is cautious. Earlier on Friday, June 21, 2019, Indian benchmark indices, Sensex and Nifty, slipped and closed in Red as the market remained volatile for the entire session. The BSE Benchmark Sensex lost 407.14 points, 1.03 per cent, and closed at 39,194.49 while Nifty 50 fell 107.65 points, 0.91 per cent, to 11,724.10. Similarly, Bank Nifty fell 152.75 points, 0.50 per cent, to settle at 30,628.35. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 24: 

11,700 and 30,500 are going to be the deciding levels on Nifty and Bank Nifty respectively. 
The small and medium day range for trading on Nifty lies between 11,690-11,800 and 11,650-11,825. The bigger range stands at 11,625-11,850.
The small and medium day range for trading on Bank Nifty lies between 30,500-30,700 and 30,350-30,800. The bigger range stands at 30,225-30,850.

For Existing Long Positions:

Nifty intraday stop loss 11,625 and closing stop loss 11,650
Bank Nifty intraday stop loss 30,500 and closing stop loss 30,350

For Existing Short Positions:

For Existing Short Positions:

Nifty intraday stop loss 11,825 and closing stop loss 11,850. 

The put-call ratio (PCR) stands at 1.34 and the volatility index (VIX) is 14.62.

For New Positions:

Buy Nifty with a stop loss of 11,625 and target 11,800, 11,825, 11,850. 
Sell Nifty in 11,825-11,850 range with a stop loss of 11,925 and target 11,725. 
Buy Bank Nifty near 30,350 with a stop loss of 30,200 and target 30,500, 30,600, 30,650. 
Sell Bank Nifty with a stop loss of 30,850 and target 30,500, 30,350, 30,250. 

Sectors:

Negative: Auto, FMCG
Total 5 stocks in Ban
Enters F&O Ban: Jet Airways. 
Out of Ban: Nil
4 Already in Ban: DHFL, PC Jewellers, Reliance Capital, Jain Irrigation
The put-call ratio (PCR) stands at 1.59 and the volatility index (VIX) is 14.

Stock of the Day:

Sell Glenmark Futures: Stop loss 505 and target 492, 485. USFDA issued observations letter.

Aaj Ka Hero:

Buy IndusInd Bank Futures: Stop loss 1440 and target 1470, 1475, 1490. Promoters to convert warrants into Equity at Rs1709.