Anil Singhvi's Market Strategy August 30: Market is positive; Buy CESC, Greaves Cotton

After trading flat for most part of the day, domestic markets ended in red on Wednesday. On the day, the S&P BSE Sensex saw a decline of 173.70 points (0.45%) to close at 38,722.93 and the Nifty 50 went down by 46.60 points (0.40%) and ended at 11,691.90. The fall was a result of the late-session selloff by the traders.

Similarly, BankNifty, which saw a decline of 45.55 points (0.16%) closed at 28,224.10. In secondary indices at BSE, Mid Cap went up by 0.47 per cent but the Small Cap rose by 0.05 per cent. 

Positive domestic institutional investors (DIIs), neutral global outlook, future and options (F&O) and negative foreign institutional investors (FII) cues suggest that the short-term trend of the Indian markets will remain positive on August 30, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for August 30: 
Market to trade on both sides; trade contra for small profits.
Weak Rupee and Rising crude to limit upside.
Put-call ratio (PCR) which stands at 1.79 suggests that there can be a reduction in the positions of weak traders. 
11,700 is going to be the deciding level on Nifty. 
The small trading range on Nifty stands at 11,625 -11,750 and the bigger range lies between 11,600-11,800.  
In the case of BankNifty, the small trading range resides between 28,125-28,375 and the bigger range lies at 28,000-28,500. 
Intraday support zone on Nifty and BankNifty rests at 11,600-11,625 and 28,125-28,150 respectively. 
Intraday profit booking zone on the two indices, Nifty and BankNifty lie between 11,750-11,800 and 28,325-28,375. 
Traders are advised to reduce their buying positions on Nifty and BankNifty if the two indices close below the level of 11,575 and 28,200. 

Buy and Sell Strategy on Nifty 
Buy Nifty with a stop loss of 11,625 and target of 11,750-11,775-11,800.
Sell Nifty above 11750 with a stop loss of 11,800 and target of 11,700. 
 
Buy and Sell Strategy on BankNifty 
Buy BankNifty near 28,150 with a stop loss of 28,000 and a target of 28,250-28,325-28,375. 
Sell BankNifty in 28,325-28,375 with a stop loss of 28,500 and a target of 28,250-28,150. 
 
The put-call ratio (PCR) today stands at 1.79 and the volatility index (VIX) is 12.43.

Enters F&O Ban: Nil
Out of F&O Ban: Jain Irrigation
Already in Ban: DHFL, IDBI, PNB

Watch this Zee Business video here:

 
Stocks of the Day:
Buy CESC: Stop loss 978 and target 1000-1020-1035.
Amazon may buy the minority stake in CESC retail arm Spencer.
 
Buy Greaves Cotton: Stop loss 146 and target 152, 155
Small but Strategic acquisition in electric vehicle space.

Book profit in Reliance Infra at higher levels in 450-460 range. Sell on news possible.