Anil Singhvi's Market Strategy for July 11: IT, OMC are positive; TCS is the stock of the day

The Indian benchmark indexes closed after trading in green on Tuesday, .i.e. on July 10, 2018. The S&P BSE Sensex traded higher by 304.90 points (0.85%) to 36,239.62, while the broader Nifty 50 went high by 94.35 points (0.87%) to close at 10,947.25 and BankNifty gained 141.25 points (0.53%) at 26,894.55. 

However, positive foreign institutional investors (FII), neutral global outlook,  domestic institutional investors (DIIs) and future and option (F&O) cues suggest that the Indian market is going to be positive on July 11, 2018. 

When it comes to sentiments, the traders are advised to remain cautious while investing in the market today. In addition, traders should remain alert in the backdrop of the trade war, global markets, volatility in rupee and higher put-call ratio (PCR). 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 11: 

10,900 and 26,800 are going to be a deciding level on Nifty and BankNifty respectively. 
10,850-11,000 is going to be the trading range at Nifty, while 26,750-27,000 will be the trading range in BankNifty. 
Strong support zone on Nifty and BankNifty stands at 10,850-10,900 and 26,600-26,750 
Anil Singhvi suggests, traders to reduce their buying positions on Nifty and BankNifty if it closes below the mark of 10,850 and 26,750 respectively. 
The Put-call ratio (PCR) which stands at 1.66 is overbought and traders should reduce their positions at high levels. 

Buy and Sell strategy on Nifty 

Sell Nifty with a stop loss of 11,000 and a target of 10,900-10,875-10,850. 
Buy Nifty in the range of 10,850-10,900 with a stop loss of 10,800 with a target of 10,900. 

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Buy and Sell strategy on BankNifty 

Sell BankNifty with a stop loss of 27,000 with a target that stands between 26,800-26,750. 
Buy BankNifty near 26750 with a stop loss of 26,600 with a target of 26,900. 

The put-call ratio (PCR) for July 10 stands at 166 and the volatility index (VIX) is 12.39.  

Negative: Pharma, Metals

Positive: IT, OMC

In F&O Ban: IDBI

Stock of the Day: TCS