Anil Singhvis Strategy September 5: Market Trend is Neutral; Buy Reliance Industries Futures with Stop Loss 1200
On account of positive DIIs, neutral global markets and F&O and negative FIIs cues, the short-term trend of the domestic Indian markets will be neutral, says Zee Business Managing Editor Anil Singhvi.
Amid positive domestic institutional investors (DIIs), neutral global markets and futures and options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the domestic Indian markets will be neutral today on Thursday, September 5, 2019, while sentiment is cautious.
Snapping the two-day losing streak, the domestic stocks markets closed with modest gains on Wednesday, September 4, 2019, on positive global cues. The Sensex at the Bombay Stock Exchange (BSE) rose 161.83 points, or 0.44 per cent, to close at 36,724.74. The Nifty at the National Stock Exchange added 46.75 points, or 0.43 per cent, to 10,844.65 while Bank Nifty gained 299.70 points, or 1.12 per cent to settle at 27,123.85.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 5:
Small day range for trading on Nifty stands at 10,775-10,925 while the medium and bigger range lies between 10,750-10,950 and 10,700-11,025.
Small day range for trading on Bank Nifty stands at 26,950-27,300 while the medium and bigger range lies between 26,850-27,500 and 26,650-27,650.
For Existing Long Positions:
Nifty intraday and closing stop loss 10,800.
Bank Nifty intraday and closing stop loss 26,950.
For Existing Short Positions:
Nifty intraday and closing stop loss 10,950.
Bank Nifty intraday and closing stop loss 27,300.
For New Positions:
Buy Nifty with a stop loss of 10,775 and target 10,925, 10,950, 10,975.
Sell Nifty in 10,950-11,000 range with stop loss of 11,025 and target 10,900, 10,850.
Buy Bank Nifty with a stop loss of 26,950 and target 27,275, 27,450, 27,650.
Sell Bank Nifty near 27,450 with stop loss of 27,650 and target 27,300, 27,150.
The put-call ratio (PCR) is at 1.08 and the volatility index (VIX) is 17.23.
No stock in F&O Ban
Stock of the Day:
Sell Reliance Capital Cash: Stop loss 35.25 and target 32, 31, 29. BOB appointed forensic auditor on 2 units of the company
Buy Tata Steel Futures: Stop loss 339 and target 347, 349, 352. Metals to bounce on the global recovery.
Aaj ka Hero:
Buy Reliance Industries Futures: Stop loss 1200 and target 1220, 1230, 1235. Reliance to launch JIO Fibre today.
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