Anil Singhvis Market Strategy July 4: Oil and Gas are positive; Reliance Industries is the stock of the day

On July 3, 2018, the S&P BSE Sensex, gained 114.19 points (0.32%) to close at 35,378.60 while Nifty 50 jumped 42.60 points (0.40%) to close at 10,699.90. On the other hand, amid mixed global cues, BankNifty trimmed its gains and closed down by 26.20 points (0.10%) at 26,204.10. 

In addition, the rupee recovered from its record low by rising 18 paise to 68 rupees 61 paise against the US dollar in early trade on Tuesday. 

But positive domestic institutional investors (DIIs), neutral global outlook, future and options (F&O) and Sentiments along with negative foreign institutional investors (FII) suggests that the domestic market trend is going to be neutral on July 4, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 4: 
10,700 and 26,200 are going to be the deciding level on Nifty and BankNifty. 

Small trade range on Nifty will lie between 10,625-10,775 while 10,600-10,800 is going to be the bigger range. 

In case of BankNifty, the small trade range stands between 26,150-26,350 and the bigger trading range lies between 26,050-26,450. 

Anil Singhvi suggests traders reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,650 and 26,150 respectively.

Buy and Sell Strategy on Nifty 
Buy Nifty with a stop loss (SL) of 10,625 and a target of 10,735-10,775. 
Sell Nifty in the range of 10,775-10,800 with a stop loss of 10,825 and a target of 10,750. 

Watch this Zee Business video here:

Buy and Sell Strategy on BankNifty 
Buy BankNifty with a stop loss of 26,050 and a target of 26,300-26,400. 
Sell BankNifty in 26,400-26,450 range with a stop loss of 26,500 and target of 26,300. 

Positive: Oil & Gas

No stocks in Ban

Stock of the day: Buy Reliance Industries