Anil Singhvi's Market Strategy October 30: Pharma Sector to be Positive today; Banks are Negative

Benchmark domestic stocks on Monday, October 29, 2018, jumped more than two per cent amid mixed global share markets. Regaining the mark of 34,000, the S&P BSE Sensex surged 718 points or 2.15 per cent to 34,067. The Nifty 50 at National Stock Exchange also crossed 10,250 level as it climbed 221 points, or 2.2 per cent, to close at 10,251. 

Amid strong domestic institutional investors (DIIs), neutral global market,  future and option (F&O), foreign institutional investors (FII) and cautious sentiments, the short-term trend of the Indian market is set to be neutral on Tuesday, October 30, 2018.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 30:

10,225 and 24,900 are going to be the deciding levels on Nifty and BankNifty. 

Small and bigger trading range on Nifty lies between 10,200-10,275 and 10,125-10,300 respectively. The extreme trading range stands at 10,000-10,400. 

In the case of BankNifty, the small and bigger trading range lies between 24,800-25,075 and 24,700-25,125 while extreme range stands at 24,500-25,250.  

Traders can go for a short cover if the two indices, Nifty and BankNifty, close above the mark of 10,250 and 25,075 respectively. 
 
Sell and Buy strategy on Nifty 
Sell Nifty with a stop loss of 10,300 and target 10,200-10,150-10,125. 
Buy Nifty near 10,125 with a stop loss of 10,100 and target 10,150-10,200-10,225. 
 
Buy and Sell Strategy on BankNifty 
Sell BankNifty with a stop loss of 25,100 and target of 24,800-24,700-24,500. 
Buy BankNifty in 24,500-24,700 range with a stop loss of 24,350 and target 24,800-24,700-25,000. 

Already In F&O ban: Adani Power
Put-call ratio (PCR) stands at 1.51 and the volatility index (VIX) is 19.82.  

Sectors:
Positive: Pharma
Negative: Banks

Result Analysis: 
Buy Union Bank Futures: Stop loss 67.75 and target 71, 73.50, 77. Improved Asset Quality, strong guidance.
Buy Just Dial Futures: Stop loss 448 and target 483. Results above expectations, short covering expected. 
Sell BPCL Futures: Stop loss 286 and target 262, 258. Weak results due to higher crude, don’t short if open big gap down. 
  
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Stock of the Day:
Buy Granules Futures: Stop loss 97.75 and target 102.50, 104, 106. Strong profit and revenue growth. 
Buy Tata Motors Futures: Stop loss 173 and target 180-182, 187.  
Buy Tata Motors DVR Futures: Stop loss 93 and target 100-102. China to reduce the tax on cars.