Anil Singhvi's Market Strategy August 16: Banks, NBFC, Metals are Negative; Kotak Mahindra Bank Futures is Stock of the Day

Domestic stocks on August 14, 2018, Tuesday, bounced back, breaking the losing trend of previous two sessions amid mixed global share market cues. Sensex at the Bombay Stock Exchange climbed 0.55 per cent or 207.10 points to 37,852 points. Nifty50 at the National Stock Exchange surged 0.70 per cent or 79.35 points to 11,435.10 points. 

In the same way, BankNifty also climbed by 0.82 per cent or 227.30 points to 28,021.70. In secondary indices at BSE, Small Cap added 0.53 per cent while outperforming the Sensex, Mid Cap gained 0.89 per cent.

However, positive domestic institutional investors (DIIs), neutral future and options (F&O), negative global and foreign institutional investors (FII) cues hint that the short-term trend of the Indian market will be neutral on August 16, 2018. But the traders are advised to be cautious while trading in the market today.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 16: 
11,400 and 28,000 are going to be the deciding level at Nifty and BankNifty. 
The small trading range on Nifty stands at 11,350-11,475 while the bigger range lies between 27,750-28,125. 
In the case of BankNifty, the small trade range rests between 27,850-28,050 and the bigger range lies at 27,750-28,125. 
Signals of fresh weakness will be visible if Nifty and BankNIfty trades below 11,340 and 27,740 respectively. 
Traders are suggested to close their positions if Nifty and BankNifty closes below the mark of 11,350 and 27,800. 
But traders can increase their positions if Nifty and BankNifty close above 11,425 and 28,125. 

Sell and Buy strategy on Nifty 
Sell Nifty with a stop loss of 11,500 and a target of 11,375-11,350.
Buy Nifty near 11,300 with a stop loss of 11,275 and a target of 11,350-11,375.
 
Sell and Buy strategy on BankNifty 
Sell BankNifty with a stop loss of 28,125 and a target of 27,850-27,750. 
Buy BankNifty near 27,750 with a stop loss of 27,650 and a target of 27,850-27,900.
 
The put-call ratio (PCR) for today stands at 1.70 and the volatility index (VIX) is 13.28. 
 
No stock Entered or exited F&O Ban
Already in Ban: Adani Enterprises, Adani Power, PNB, Jet Airways

Watch this Zee Business video here:

 
Sectors:
Negative: Banks, NBFC, Metals

Stock of the Day:
Short Kotak Mahindra Bank Futures: Stop loss 1295 and target 1270, 1260

RBI not allowing dilution is a negative

Buy Jet Air Cash: In Ban, Short covering expected with stop loss 277 and target 288-292-297

Sharp fall in crude prices

Blackstone considering buy a stake in loyalty program Jet Privilege

Management clarifying no delay in repayment to any banks