Anil Singhvi’s Strategy September 11: Market Sentiment is Positive; Metal Sector is Positive

Amid positive global markets, domestic institutional investors (DIIs) and sentiment, neutral futures and options (F&O) and foreign institutional investors (FIIs) cues, the short-term trend of the domestic Indian markets will be neutral on Wednesday, September 11, 2019.

Earlier on Monday, September 9, 2019, Domestic stock markets posted gains for a second straight day today, amid positive Asian stocks. The Sensex at the Bombay Stock Exchange climbed 163.68 points, or 0.44 per cent, to close at 37,145.45. The Nifty at the National Stock Exchange also climbed 56.85 points, or 0.52 per cent, to settle at 11,003.05 while Bank Nifty gained 256.75 points, or 0.94 per cent, and closed at 27,504.65. The gains were led by banks and financial stocks. RBL Bank (up 7.34 per cent), Yes Bank (up 4.30 per cent), Federal Bank (up 3.91 per cent), PNB (up 2.28 per cent) and Kotak Bank (up 2.01 per cent) were the top five gainers of the day.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 11:

11,000 and 27,500 are the deciding levels on Nifty and Bank Nifty respectively.

Strong day support zone on the two indices, Nifty and Bank Nifty, resides between 11,925-11,950 and 27,250-27,300 respectively.

Day Higher range on the two indices resides between 11,075-11,125 and 27,650-27,700.

Bigger range on the two indices:

Nifty: 10,850-11,175

Bank Nifty: 26,950-27,950

For Existing Long Positions:

Nifty intraday and closing stop loss 10,925.

Bank Nifty intraday and closing stop loss 27,200.

For Existing Short Positions:

Nifty intraday and closing stop loss 11,030.

Bank Nifty intraday and closing stop loss 27,600.

For New Positions:

Buy Nifty in 11,925-11,950 range with a stop loss of 11,900 and target 11,025, 11,075, 11,125.

Sell Nifty in 11,100-11,125 range with a stop loss of 11,175 and target 11,075, 11,025.

Buy Bank Nifty in 27,250-27,300 range with a stop loss of 27,100 and target 27,500, 27,650.

Sell Bank Nifty in 26,650-27,700 range with a stop loss of 27,750 and target 27,550, 27,500.

The put-call ratio (PCR) is at 1.41 and the volatility index (VIX) is 15.85.

Sectors:

Positive: Metals

No stock in F&O Ban

Stock of the Day:

Buy Tata Steel Cash: Stop loss 350 and target 360, 362. Buying in metal stocks due to global markets.

Aaj ka Hero:

Buy Piramal Enterprises Cash: Stop loss 1880 and target 1910, 1930. Piramal may sell its stake in Shriram Capital.