Anil Singhvi's Market Strategy September 10: Axis Bank Futures, Jain Irrigation Futures are stocks of the day

The benchmark domestic indices closed with gains amid negative global stocks markets on September 7, 2018. The S&P BSE Sensex gained 147.01 points or 0.38 per cent to close at 38,389.82. The Nifty 50 at the National Stock Exchange was also up 52.20 points or 0.45 per cent to 11,589.10. 

Similarly, the Nifty Bank closed at 27,482.45 by going 12.75 points or 0.05 per cent. In the secondary indices at BSE, Mid Cap went up by 1.51 per cent and Small Cap was high by 0.55 per cent. 

However, positive domestic institutional investors (DIIs), neutral global outlook, future and options (F&O) and foreign institutional investors (FII) cues suggest that the short-term trend of the Indian market is going to be neutral on September 10, 2018. But, traders are advised to be cautious while trading in the market today.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 10: 
Asian markets and Rupee important triggers.
11,600 and 27,500 are the deciding levels on Nifty and BankNifty. 
The small trading range on NIfty stands at 11,525-11,600 and the bigger range lies at  11,475-11,650.
In the case of BankNifty, the small and bigger trading range lies at 27,250-27,550 and 27,150-27,700 respectively. 
Traders are advised to close their buying positions if Nifty and BankNifty closes below the mark of 11,500 and 27,350 respectively. However, they can increase their buying positions if the two indices close above the mark of 11,650 and 27,800. 

Sell and Buy strategy on Nifty 
Sell Nifty with a stop loss 11,625 and target of 11,525. 
Buy Nifty in 11,500-11,525 range with a stop loss of 11,475 and the target 11,575-11,600-11,650. 

Watch this Zee Business video here:

 
Sell and Buy strategy on BankNifty 
Sell BankNifty with a stop loss of 27,550 and a target of 27,375-27,250-27,150. 
Buy BankNifty near 27,250 with a stop loss of 27,150 and a target of 27,350-27,450. 

The put-call ratio (PCR) on September 10 stands at 1.49 and the volatility index (VIX) is 13.89.
  
Stock of the Day:
Buy Axis Bank Futures: Stop loss 2750 and target of 2820, 2845. Amitabh Chaudhary to take over as MD & CEO of Axis Bank. 
Buy Jain Irrigation Futures: Stop loss 85 and target 90-95. Odisha Government to spend 10,000 Crores on irrigation in next 5 years. Almost 2500 crores orders to be released soon.