Anil Singhvi’s Strategy March 29: Fertilizer, FMCG & NBFC are Positive; Auto Sector is Negative

Positive global market, foreign institutional investors (FII), sentiments, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian stock markets will remain positive on Friday, March 29, 2019.

After ending in a red on Wednesday, the domestic stocks trumped itself by gaining more than 1 per cent on Thursday, March 28, 2019. On the day, the Sensex at the Bombay Stock Exchange jumped 412.84 points, or 1.08%, to 38,545.72. Similarly, Nifty 50 gained 124.95 points, or 1.09% to settle above the mark of 11,500 at 11,570 while Nifty Bank rose 400.75 points, or 1.33%, to settle at 30,420.55. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for March 29:

The small and medium day range on Nifty lies between 11,525-11,600 and 11,500-11,650 while the extreme range stands at 11,450- 11,700.
The small day range on Nifty Bank stands at 30,250-30,500. A big move can be seen if it crosses the mark of 30,500. 
Support Zone on the two indices, Nifty and Nifty Bank, resides between 11,450-11,500 and 30,000-30,250. 

For Existing Long Positions:
Nifty Intraday stop loss 11,500 and Closing stop loss 11,450. 
Nifty Bank Intraday 30,250 and Closing stop loss 30,000. 

For Existing short positions:
Nifty Intraday stop loss 11,600 and closing stop loss already triggered. 
Bank Nifty Intraday and Closing stop loss already triggered.  

For New Positions:
Buy Nifty in 11,500-11,525 range with a stop loss of 11,450 and target 11,575, 11,600, 11,650. 
Sell Nifty in 11,650-11,700 range with a stop loss of 11,775 and target 11,600, 11,575. 
Buy Bank Nifty near 30, 300 with a stop loss of 30,200 and target 30,500, 30,900. 

The put-call ratio (PCR) stands at 1.58 and the volatility index (VIX) is 16.65.

Sectors:
Positive: Fertilizers, FMCG, NBFC
Negative: Auto

In F&O Ban: Adani Power
3 stocks exit Ban: Adani Enterprises, IDBI, Jet Airways

Stock of the Day:
Buy ICICI Cash: Stop loss 390 and target 410, 415. Private Banks looking strong. 
Sell Eicher Motors Cash: Stop loss 21,450 and target 20,550, 20,300, 20,000. Weak monthly sales numbers expected. 

Watch this Zee Business Video

Aaj Ka Hero:
Buy Jet Air Cash: Stop loss 263 and target 278, 285. Out of ban today.