Anil Singhvi's Market Strategy August 28: Jet Airways is stock of the day; Auto is positive

The S&P BSE Sensex on Monday shot up 442.31 points, or 1.16 per cent, to close at a fresh all-time high of 38,694.11. The Nifty 50 at the National Stock Exchange jumped 134.85 points, or 1.17 per cent, to a new peak of 11,691.95. 

Similarly, BankNifty also went up by 429.50 points, or 1.54 per cent to close at 28,264.20 In secondary indices at BSE, Mid Cap saw a rise of 1.07 per cent and the Small Cap also rose by 0.70 per cent. 

However, positive domestic institutional investors (DIIs), ‪foreign institutional investors (FII) sentiments and global outlook, as well as neutral future and options (F&O), suggest that the short-term trend of the Indian market will remain positive on August 28, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 28:
11,700 and 28,300 are going to be the deciding levels on Nifty and BankNifty
Weak Rupee, Rising crude, Higher PCR 1.85 and lower VIX 12.24 suggest that traders should remain on a high alert. 
Traders can get trading opportunities on both the sides, volatility can be seen in the market.
The small trading range on Nifty stands at 11,625-11,750 and the bigger range lies between 11,600-11,800. 
The large short covering can be seen if Nifty resides above the mark of 11,700.
In the case of BankNifty, the small trading range lies between 28,125-28,375 and the bigger range lies at 28,000-28,500. 
Intraday support zone on Nifty and BankNifty lies at 11,600-11,625 and 28,000-28,125 respectivly. 
Traders are advised to reduce their buying positions on Nifty and BankNifty is they close below the mark of 11,550 and 27,800. 
  
Buy & Sell Strategy on Nifty 
Buy Nifty with a stop loss of 11,600 and a target of 11,750-11,775-11,800. 
Sell Nifty above 11,750 with a stop loss of 11,800 and a target of 11,700-11,650. 

Buy & Sell Strategy on BankNifty 
Buy BankNifty near 28,125 with a stop loss of 28,000 and a target of 28,300-28,375-28,475. 
Sell BankNifty in 28,350-28,450 range with a stop loss of 28,500 and a target of 28,250-28,125.

The put-call ratio (PCR) today stands at 1.85 and the volatility index (VIX) is 12.24.
 
Sectors:
Positive: Auto
Negative: Weak Power stocks, Aviation
 
Enters F&O Ban: Nil
Out of F&O Ban: Raymonds
Already in Ban: Jain Irrigation, Hexaware, Jet Airways

Watch this Zee Business video here:

 
Stock of the Day:
Sell Jet Airways Futures: Stop loss 290 and target 265
Poor operational performance, No solid plan for revival
The stock may trade volatile due to F&O ban and short positions
 
Buy PTC Futures: Stop loss 83 target 87.50-89-92
Tomorrow Dividend ex-date 4/-
Investment in PTC Energy and PTC renewable is more than market cap

Sensex up 442 points to close at the fresh all-time high of 38,694
AFPThe Sensex at the Bombay Stock Exchange shot up 442 points, or 1.2 per cent, to close at a fresh all-time high of 38,694. The Nifty at the National Stock Exchange jumped 135 points, or 1.2 per cent, to a new peak of 11,557.