Anil Singhvi’s Strategy October 1: PSU, OMC, Fertilizers are Positive; Buy BPCL Futures with Stop Loss of 465

Amid positive domestic institutional investors (DIIs), neutral global markets, foreign institutional investors (FIIs), futures and options (F&O) and cautious sentiment cues, the short-term trend of Indian share market will be positive on Tuesday, October 1, 2019. 

Domestic stock markets on Monday, September 30, 2019, fell amid negative global cues. Negative cues from other Asian indices put pressure on the bourses. The Sensex at the Bombay Stock Exchange declined 155.24 points or 0.40% to close at 38,667.33. The Nifty at the National Stock Exchange also ended 37.95 points or 0.33% down at 11,474.45. Similarly, Bank Nifty lost 773.50 points or 2.59% and settled at 29,103.15. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 1:

Day support zone on Nifty and Bank Nifty stands at Nifty 11,375-11,400 and 28,900-29,000 respectively. 

Higher zone for trading on Nifty 11,575-11,600 and Bank Nifty is 29,400-29,600. 

The small day range for trading on Nifty stands at 11,400-11,500 while the medium and bigger ranges lie between the mark of 11,375-11,575 and 11,300-11,600 respectively. 

The small day range for trading on Bank Nifty 28,950-29,400 while the medium and bigger ranges lie between 28,750-29,600 and 28,500-29,800 respectively. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,375. 

Bank Nifty intraday and closing stop loss 28,900.  

For Existing Short Positions:

Nifty intraday and closing stop loss 11,600. 

Bank Nifty intraday and closing stop loss 29,600.  

For New Positions:

Buy Nifty in 11,400-11,425 range with a stop loss of 11,375 and target 11,475, 11,500, 11,575. 

Sell Nifty in 11,575-11,600 range with a stop loss of 11,625 and target 11,550, 11,500. 

Buy Bank Nifty near 28,950-29,000 range with a stop loss of 28,900 and target 29,400, 29,500, 29,600. 

Sell Bank Nifty in 29,400-29,600 range with a stop loss of 29,800 and target 29,100, 29,000.  

Sectors:

Positive: PSU, OMC, Fertilizers

Negative: Auto, NBFC 

No stock in F&O Ban 

The put-call ratio (PCR) is at 1.11 and the volatility index (VIX) is 15.87.

Stock of the Day:

Buy BPCL Futures: Stop loss 465 and target 480, 488. Secretaries committee recommends 100% divestment. 

Buy RCF: Stop loss 47.50 and target 50, 52. Gas prices reduced by 12.50%, big positive for fertilizer companies.