Anil Singhvi's Market Strategy August 23: IT & Pharma are positive; MGL Futures is stock of the day

At the stock markets, the S&P BSE Sensex gained 7 points or 0.02 per cent to a new closing peak of 38,285.75. The Nifty at the National Stock Exchange rose 19.15 points or 0.17 per cent, to a fresh record high of 11,570.90 on Tuesday. 

On the other hand, Nifty Bank lost 0.06 per cent or 16.35 points to close at 28,257.90. In secondary indices at BSE, Mid Cap gained 0.52 per cent while Small Cap was up by 0.34 per cent. 

However, positive domestic institutional investors (DIIs), future and options (F&O) sentiments and neutral global and foreign institutional investors (FII) cues hint that the short-term trend of the Indian market will be positive on August 23, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 23: 
11,600 and 28,250 are deciding levels on Nifty and BankNifty respectively. 
Markets to trade in a small range, trade contra against the trend for small profits on Nifty & BankNifty
 Small trade range on Nifty stands at 11,540 -11,600 while the bigger range lies between 11,500-11,650.
In the case of the BankNifty, the small trading range stands at 28,150-28,325 and the bigger range lies between 28,000-28,500.
Traders are suggested to close their buying positions in the two indices if Nifty and BankNifty closed below the mark of 11,470 and 28,125. 
11,500-11,525 and 28,050-28,150 are going to be the strong support zone on Nifty and BankNifty today. 

Buy and Sell Strategy on Nifty 
Buy Nifty in 11525 -11540 range with a stop loss of 11,500 and a target of 11,600-11,625-11,650. 
Sell Nifty in 11600-11650 range with a stop loss of 11,675 and target of 11,600-11,575-11,550.
 
Buy and Sell Strategy on BankNifty 
Buy BankNifty in 28050-28150 range with a stop loss of 28,000 and target of 28,230-28,350
Sell BankNifty in the range of 28,325-28,375 with a stop loss of 28,500 and a target of 28,150. 
 
The put-call ratio (PCR) today stands at 1.730and the volatility index (VIX) is 12.90. 
 
Sectors:
Positive: IT, Pharma

Enters F&O Ban: Nil
Out of F&O Ban: Adani Power
2 Already in Ban: Jain Irrigation, Raymonds

Watch this Zee Business video here:

 
Stock of the Day:
Sell MGL Futures with a stop loss of 900 and a target of 865-855

BG Asia to sell stake today in block deals, floor price 851

Buy Max India with a stop loss of 90 and a target of target of 94-96

KKR interested in buying a stake in Max Healthcare.

Max India holds a 47% stake in the company valued around 1,700 crores Max Market Cap 2,400 crore.
 
Credit Gramin Access IPO:
Gave Avoid rating to IPO, To list around or below Issue Price of 422
Short-term investors exit on the listing, long-term investors may hold.