Anil Singhvis Strategy March 27: Traders should exit near cost
Anil Singhvis Strategy March 27: On account of neutral F&O, negative DIIs and FIIs, the short-term trend of the Indian stock markets will be negative today.
Anil Singhvi’s Strategy March 27: Amid neutral global markets, futures & options (F&O) and sentiment and negative domestic institutional investors (DIIs) and foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be negative on Friday, March 27, 2020.
The domestic stock market extended rally for the third day on Thursday, March 26, 2020, supported by banks and FMCG stocks. Trading was volatile due to expiry of monthly derivatives contracts today, 26 March 2020. The barometer index, the S&P BSE Sensex, jumped 1,410.99 points or 4.94% at 29,946.77. The Nifty 50 index spurted 323.60 points or 3.89% at 8,641.45. Bank Nifty gained 1,132.85 points or 6.36% to 19,613.90.
What should RBI governor do?
1] Announce rate cut by at least 0.5%;
2] Banks should relax the NPA rules for 3 months;
3] Provide 3-month concession in EMI;
4] Increase liquidity in the system; and
5] Reduce bank interest rates and margin.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 27:
For traders: Exit near your cost, Volumes low, volatility high so trade minimum Quantity with strict Stop Loss, Only for INTRADAY.
For Investors: Book profit in 35% which you invested on 24th March, Hold your 30% cash to invest again at lower levels, Nifty 8,950-9,150 and Bank Nifty 20,500-21,000 perfect selling zone.
Important DAY Support Zone on Nifty is 8,250-8,400 and Bank Nifty is 18,400-18,700, 19,000-19,300.
Higher range on Nifty is 8,900-9,150 and Bank Nifty is 20,300-20,500, 21,000.
For Existing Long Positions:
Nifty intraday and a closing stop loss 8,250
Bank Nifty intraday and a closing stop loss 18,500
For Existing Short Positions:
Nifty intraday and a closing stop loss 9,150.
Bank Nifty intraday and a closing stop loss 21,000.
For New Positions:
Buy Nifty with a stop loss of 8,400 and target 8,750, 8,900, 8,950, 9,150.
Sell Nifty in 8,900-9,150 range with a stop loss of 9,250 and target 8,750, 8,650, 8,500, 8,400.
Buy Bank Nifty with a stop loss of 19,250 and target 20,000, 20,300, 20,400, 20,500, 21,000.
Sell Bank Nifty in 20,400-21,000 range with a stop loss of 21,200 and target 20,100, 19,700, 19,300, 19,000.
Put-Call Ratio (PCR) High 1.42, Volatility Index (VIX) down by 8% to 71.53.
No stocks in F&O Ban
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