Anil Singhvi’s Strategy September 12: Metals & Banks are Positive; Buy Apollo Hospital Cash in range 1450-1460

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 positive on Thursday, September 12, 2019.

Earlier on Wednesday, September 11, 2019, the Indian equity markets closed in green. On the day, the S&P BSE Sensex extended gains for the third consecutive trading session and rose by 125.37 points or 0.34% to settle at 37,270.82. Similarly, NSE Nifty 50 rose for the fifth consecutive trading session, its longest stretch of gains in nearly six months. Nifty rose by 32.65 points or 0.34% to 11,035.70. Bank Nifty gained 271.55 points or 0.99% and closed at 27,776.20. Easing US-China tensions buoyed trading sentiment across the global stock markets.

Yes Bank (up 13%), Tata Motors (up 10.66%), Eicher Motors (up 5.10%), Maruti (up 3.86%) and JSW Steel (up 3.78%) were the top gainers of the day.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 12:

Small day range for trading on Nifty stands at 11,025-11,075 while the medium and bigger ranges lie between 11,000-11,125 and 10,950-11,175.

The small and medium day range for trading on Bank Nifty lies between 27,500-27,950 and 27,300-28,100.

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For Existing Long Positions:

Nifty intraday and closing stop loss 11,000.

Bank Nifty intraday and closing stop loss 27,500.

For Existing Short Positions:

Nifty intraday and closing stop loss 11,055.

Bank Nifty intraday and closing stop loss 27,850.

For New Positions:

Buy Nifty with a stop loss of 11,000 and target 11,075, 11,125, 11,175.

Sell Nifty in 11,125-11,175 range with a stop loss of 11,200 and target 11,075, 11,025.

Buy Bank Nifty with a stop loss of 27,500 and target 27,950, 28,100.

Sell Bank Nifty in 27,950-28,100 range with a stop loss of 28,200 and target 27,850, 27,750.

The put-call ratio (PCR) is at 1.32 and the volatility index (VIX) is 15.37.

Sectors:

Positive: Metals, Banks

No stock in F&O Ban

Stock of the Day:

Buy Apollo Hospital Cash in range 1450-1460: Stop loss 1435 and target 1485, 1500, 1515. Good buy at a lower level today after the block deal.

Aaj ka Hero:

Buy NALCO Cash: Stop loss 44 and target 46. Buying in metal stocks due to global rally.