Anil Singhvi’s Strategy October 14: Expect strong listing for IRCTC IPO, book profit 550-600 range; Metal Sector is Positive; Buy Tata Steel Futures with Stop Loss of 335

Amid positive global markets and sentiment, neutral futures and options (F&O) and foreign institutional investors (FIIs), negative domestic institutional investors (DIIs) cues, the short-term trend of Indian share market will be neutral on Monday, October 14, 2019.

Earlier on Friday, October 11, 2019, equity benchmarks closed with gains of more than half a per cent. Domestic indices climbed amid positive global stocks. BSE Sensex surged 246.68 points or 0.65% to end at 38,127.08. The NSE Nifty also added 70.55 points or 0.63% to settle at 11,305.05. Similarly, Bank Nifty rose 29.10 points or 0.10% to settle at 28,042.50.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 14: 

11,300 and 28,000 are deciding levels on Nifty and Bank Nifty respectively.

STRONG BUY zone on Nifty is 11,125-11,175 and Bank Nifty is 27,550 -27,750.

Higher zone on Nifty is 11,375-11,450 and Bank Nifty is 28,550-28,750.

The small and medium day range for trading on Nifty lies between 11,250-11,350 and 11,200-11,400. The bigger range stands at 11,175-11,450.

The small and medium day range for trading on Bank Nifty lies between 27,900-28,200 and 27,800-28,550. The bigger range stands at 27,600-28,750. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,225.

Bank Nifty intraday and closing stop loss 27,900. 

For Existing Short Positions:

Nifty intraday and closing stop loss 11,400.

Bank Nifty intraday and closing stop loss 28,250. 

For New Positions:

Buy Nifty with a stop loss of 11,175 and target 11,350, 11,400, 11,450.

Sell Nifty in 11,400-11,450 range with a stop loss of 11,500 and target 11,350, 11,325.

Buy Bank Nifty with a stop loss of 27,900 and target 28,200, 28,400, 28,550, 28,750.

Sell Bank Nifty in 28,550-28,750 range with a stop loss of 28,900 and target 28,400, 28,250. 

The put-call ratio (PCR) is 1.14 and the volatility index (VIX) is 17.14.

Sectors:

Positive: Metals 

IRCTC IPO Listing preview: Expect strong listing. Book Profit 550-600 range. Keep stop loss of Rs525 if you get an allotment. Fresh buying recommended in 450-500 range.

Result Analysis:

Sell Infosys Futures: Stop loss 820 and target 780, 770. 770-830 Futures trading range. Results In-line, guidance better. Profit booking expected

Sell D-Mart Cash: Stop loss 1850 and target 1770, 1740. Valuations expensive, growth slowing down.

Stock of the Day:

Buy Tata Steel Futures: Stop loss 335 and target 345, 350. Trade War deal is a big positive.