Anil Singhvi strategy August 5: Metals, Oil & Gas and PSU Banks are Negative; Sell Reliance Industries Futures with stop loss at 1195
On account of positive DIIs, negative F&O, negative global markets, FIIs and sentiment cues, the short-term trend of the domestic Indian markets will be Negative, says Zee Business Managing Editor Anil Singhvi.
Amid positive domestic institutional investors (DIIs), negative futures and options (F&O), negative global markets, foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the domestic Indian markets will be Negative today.
Earlier on Friday, after facing heavy selloff in the early morning trade session, the Indian indices regained the early morning losses after closing. The BSE Sensex gained 99 points in the intraday and closed at 37,118 levels while the Nifty-50 index gained 17 points and closed at 10,997 levels. But, the Bank Nifty index went off 162 points and closed at 28,204 levels.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 1:
Global: Negative
FII: Negative
DII: Positive
F&O: Negative
Sentiment: Negative
Trend: Negative
Nifty 11000 Nirnayak level
10875-11000 small day range, Medium range 10850-11075, Bigger range 10775-11150
Bank Nifty 28050-28200 small day range, Medium range 27950-28350. Bigger range 27550-28500
For Existing Long Positions:
Nifty intraday SL 10850 n closing 10975
Bank Nifty intraday SL 27900 and closing 28200
For Existing Short Positions:
Nifty intraday SL 11100 n Closing 11150
Bank Nifty intraday SL 28550 and Closing 28400
For New Positions:
Sell Nifty:
SL 11100 Tgt 10875, 10850, 10800
Sell Bank Nifty:
SL 28250 TGT 28050, 27950, 27750
PCR1.18, VIX 15.19
Sectors: Negative: Metals, Oil & Gas, PSU Banks
Results Analysis:
Bata: Results as expected, Futures range 1280-1340
Sell ITC Futures:
SL 270 Tgt 260, 255, 250
Weak cigarette volume growth at 3%
Stock Of the Day:
Sell SBI Futures:
SL 312 Tgt 300, 295, 290
After results, stocks to fall more on weak asset quality
Aaj Ka Hero:
Sell Reliance Ind Futures:
SL 1195 Tgt 1170, 1155, 1145
RIL to lead the weakness now, CS reduced target to 995
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