Anil Singhvis Strategy May 3: FMCG, Auto & Auto Ancillary are Negative; Sell Tata Motors Futures with Stop Loss 210
On positive FII, neutral global and F&O, and negative DIIs cues, the short-term trend of the Indian market will remain positive, says Zee Business managing Editor Anil Singhvi.
Amid positive foreign institutional investors (FII), neutral global and Futures and Options (F&O), and negative Domestic Institutional Investors (DIIs) cues, the short-term trend of the Indian market will remain positive on Friday, May 3, 2019, and sentiment is cautious.
Earlier on Thursday, May 2, 2019, the key equity indices ended with modest losses. On the day, the barometer index, the S&P BSE Sensex, fell 50.17 points (0.13%) to settle below the psychological 39,000-mark at 38,981.43. The Nifty 50 was down by 23.45 points (0.20%) to settle at 11,724.75 and the Bank Nifty lost 56.20 points (0.19%) and closed at 29,708.60.
See Anil Singhvi's tweet below:
Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 3:
11,700 and 29,650 are deciding levels on Nifty and Bank Nifty respectively.
The small and medium day range for trading on Nifty lies between 11,700-11,750 and 11,650-11,800. The bigger trading range stands at 11,575-11,850.
The small and medium day range for trading on Bank Nifty lies between 29,550-29,850 and 29,450-29,925.
For Existing Long Positions:
Nifty intraday stop loss 11,640 and Closing stop loss 11,700.
Bank Nifty intraday and Closing stop loss 29,550.
For Existing Short Positions:
Nifty intraday stop loss 11,800 and Closing stop loss 11,750.
Bank Nifty intraday stop loss 29,925 and Closing stop loss 30,050.
For New Positions:
Buy Nifty in 11,650-11,700 range with a stop loss of 11,600 and target 11,725, 11,750, 11,800.
Sell Nifty near 11,800 with a stop loss of 11,855 and target 11,750, 11,725.
Buy Bank Nifty in 29,450-29,550 range with a stop loss of 29,400 and target 29,650, 29,750, 29,850.
Sell Bank Nifty in 29,850-29,925 range with a stop loss of 30,050 and target 29,750, 29,650.
The put-call ratio (PCR) stands at 1.61 and the volatility index (VIX) is 22.98.
Enters F&O Ban: Jet Airways.
Sectors:
Negative: FMCG, Auto, Auto Ancillary.
Stock of the Day:
Sell Tata Motors Futures: Stop loss 210 and target 200, 195. 20 per cent fall in April Sales.
Aaj Ka Hero:
Sell Adani Enterprises Futures: Stop loss 130 and target 124, 122. Stay on mining in Carmichael is a big negative.
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