Anil Singhvi's Market Strategy July 9: Short-term trend of the market to be positive; FMCG is positive

Domestic Stock markets on July 6, 2018 (Friday), closed with marginal gains. S&P BSE Sensex was high by 83.31 points (0.23%) to close at 35,657.86 and Nifty 50 closed 22.90 high (0.21%) at 10,772.65 while the NiftyBank dropped down by 9.45 points (0.04%) to close at 26,493.85. 

But positive global outlook, strong domestic institutional investors (DIIs), neutral future and options (F&O), foreign institutional investors (FII) and sentiment cues suggests that the domestic market trend is going to be positive on July 9, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 9: 
10,800 and 26,500 are going to be a deciding level on Nifty and BankNifty respectively. 
Small trade range on Nifty stands between 10,725-10,800 while the bigger range lies at 10,700-10,850. 
In case of BankNifty, the small trade range lies at 26,400-26,600 and the bigger range will be 26,300-26,750. 
Big short covering will be seen if Nifty and BankNifty crosses the mark of 10,800 and 26,600. 
Traders are being advised to reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,700 and 26,400. However, they should end their positions if the two indexes close below 10,650 and 26,200. 

Buy and Sell strategy on Nifty 
Buy Nifty with a stop loss of 10,725 and a target of 10,825-10,850. 
Sell Nifty near 10850 with a stop loss of 10,875 and a target of 10,800.

Watch this Zee Business video here:

Buy and Sell strategy on BankNifty 
Buy BankNifty with a stop loss of 26,400 and a target of 26,600-2,6650-26,700.
Sell BankNifty in the range of 26,700-26,750 with a stop loss of 26,800 and a target of 26,600. 

The put-call ratio (PCR) for July 9 stands at 1.51 and the volatility index (VIX) is 12.44. 

Positive: FMCG

First entry in F&O Ban: IDBI