Anil Singhvi's Market Strategy September 4: Pharma positive, Cement, Metals, Aviation, Banks are negative

The S&P BSE Sensex on September 3, 2018, closed in the red. On the day, S&P BSE Sensex plunged by 332.55points points (0.86%) to close at 38,312.52 points and the Nifty50 at the National Stock Exchange also went down by 98.15 points (0.84%) to end at 11,582.35 points. 

In the same way, BankNifty also saw a fall of 242.25 points (0.86%) and ended at 27,819.50 points. In case of secondary indices at BSE, Mid Cap went down by 0.45 per cent and the Small Cap also lost 0.17 per cent. 

However, neutral global outlook, future and options (F&O) and negative domestic institutional investors (DIIs) and foreign institutional investors (FII) cues suggest that the short-term trend of the Indian market will be neutral on September 4, 2018. But the traders are advised to be cautious while trading in the market today.  

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 4: 
Weak Global markets, Falling Rupee, Rising crude to limit upside.
Sell on rising strategy till Nifty again crosses 11700.
Deciding level on Nifty and BankNifty stands at 11,600 and 27,800 respectively. 
The trading range on Nifty stands at 11,500 -11,650. 
The small trading range on BankNifty lies at 27,650-27,950 and the bigger range stands at 27,500-28,050.
Traders should reduce their buying positions if Nifty closes below the mark of 11,575. 
However, they can increase their positions on the two indices, namely Nifty and BankNifty if they close above the mark of 11,700 and 28,050. 
 
Sell and Buy Strategy on Nifty
Sell Nifty with a stop loss of 11,675 and target of 11,525-11,500. 
Buy Nifty near 11,500 with a stop loss of 11,475 and target of 11,575. 
 
Sell Strategy on BankNifty
Sell BankNifty with a stop loss of 28,050 and target of 27,750-27,650-27,500. 

The put-call ratio (PCR) today stands at 1.48 and the volatility index (VIX) is 13.39.

Watch this Zee Business video here:

 
Sectors:
Negative: Cement, Metals, Aviation, Banks
Positive: Pharma buy on dips
 
No stock in F&O Ban

Stock of the Day:
Short Jet Airways Futures: Rating downgrade, higher crude, falling rupee to put pressure. Stop loss 292 and target is 275-272. 
Short Ultratech Futures: Stop loss 4460 and target is 4280. Big market share in Maharashtra, construction ban will hurt.