Anil Singhvi’s Strategy June 26: NBFC & Oil Marketing firms are negative; Sell Indiabulls Housing Futures with Stop Loss 630

Amid positive domestic institutional investors (DIIs) and foreign institutional investors (FII), neutral global market and futures and options (F&O) cues and cautious sentiment, the short-term trend of the domestic Indian market will be neutral on Wednesday, June 26, 2019.

Earlier on Tuesday, June 25, 2019, the markets closed positively on a strong note. Nifty closed up by 96.80 points or 0.83 per cent at 11,796.45 while Sensex was up by 311.98 points or 0.80 per cent at 39,434.94 levels. JSW Steel (up by 3.18 per cent) and BPCL (up by 3.03 per cent) were the top gainers of the day while Yes Bank (down by 2.05 per cent) and Bharti Infratel (down by 1.28 per cent) were the biggest losers. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 26:
11,800 and 30,800 are going to be the deciding levels on Nifty and Bank Nifty. 
The small and medium day range for trading on Nifty lies between 11,750-11,825 and 11,725-11,850. The bigger range stands at 11,675-11,900. 
The small and medium day range for trading on Bank Nifty lies between 30,700-30,900 and 30,600-30,950. The bigger range stands at 30,525-31,150. 

For Existing Long Positions:
Nifty intraday stop loss 11,725 and closing stop loss 11,675. 
Bank Nifty intraday stop loss 30,650 and closing stop loss 30,600

For Existing Short Positions:
Nifty intraday and closing stop loss 11,850
Bank Nifty intraday stop loss 30,950 and closing stop loss 30,850. 

For New Positions:
Buy Nifty in 11,725-11,750 range with a stop loss of 11,675 and target 11,800, 11,825, 11,850. 
Sell Nifty in 11,825-11,850 range with a stop loss of 11,900 and target 11,800, 11,750, 11,725. 
Buy Bank Nifty in 30,525-30,650 range with a stop loss of 30,450 and target 30,600, 30,700, 30,800. 
Sell Bank Nifty in 30,950-31,000 range with a stop loss of 31,050 and target 30,850, 30,700, 30,650. 

Sectors:
Negative: NBFC, Oil Marketing Companies.

Total 5 stocks in Ban
Enters F&O Ban: Nil
Out of Ban: Reliance Infrastructure
4 Already in Ban: Reliance Capital, Jet Airways, IDBI, Adani Power

The put-call ratio (PCR) stands at 1.52 and the volatility index (VIX) is 15.01.

Stock of the Day: Sell DHFL Futures: Stop loss 75 and target 67, 63. Company defaults on Rs225 Crore loan repayment. 

Aaj Ka Hero: Sell Indiabulls Housing Futures: Stop loss 630 and target 605, 595. Pressure on housing finance companies, weak disbursements and high cost of borrowings.