Anil Singhvi's Market Strategy for July 19: OMC positive; Buy JK Tyre with target Rs 128-130

The Benchmark S&P Sensex on Wednesday dropped down by 146.52 points (0.40%) to close at 36,373.44 while Nifty 50 also went down by 27.60 points (0.25%) at 10,980.45. Similarly, Nifty Bank was also down by 127.20 points (0.47%) to close at 26,880.90. This fall was led by selling in metal and automobile segment. 

Amid positive global, neutral domestic institutional investors (DIIs), future and option (F&O), foreign institutional investors(FII) cues, the short term domestic market is going to be neutral on July 19, 2018. However, the traders are advised to be cautious while trading in the market today.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 19:
11,000 and 26,9000 are going to be the deciding levels on Nifty and BankNifty. 

Small trade range on Nifty stands between 10,925-11,075. 

In case of BankNifty, small trade range lies at 26,800-27,000 while the bigger range is at 26,650-27,175.

Strong support zone on Nifty and BankNifty lies between 10,900-10,925 and 26,650-26,700 respectively. 

However, Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty closes below 10,925 and 26,650. 

Sell and buy strategy on Nifty 
Buy Nifty with a stop loss of 10,900 and a target of 11,020-11,075. 

Sell Nifty near 11,075 with a stop loss of 11,125 and a target of 11,025-11,000. 

Watch this Zee Business video here:

Sell and buy strategy on BankNifty 
Buy BankNifty with a stop loss of 26,650 and a target of 27,000-27,150. 

Sell BankNifty near 27150 with a stop loss of 27,200 and a target of 27,000.

The put-call ratio (PCR) for July 19 stands at 1.65 and the volatility index (VIX) is 13.68.  

Positive: OMC, buy on dips.

Out of F&O Ban: Jet Air

Already in Ban: Adani Ent., Adani Power

Stock of the Day: Buy JK Tyre Target Rs 128-130