Amid positive domestic institutional investors (DIIs), neutral global markets, futures and options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the domestic Indian markets will be neutral on Monday, September 9, 2019, while sentiment will remain cautious.

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Earlier on Friday, September 6, 2019, the key equity benchmarks ended with modest rise tracking gains in global peers amid easing US-China trade tensions. The barometer index, the S&P BSE Sensex, rose 337.37 points or 0.92% to 36,981.77. The Nifty 50 index rose 98.30 points or 0.91% to 10,946.20 while Bank Nifty gained 328.20 points or 1.22% to settle at 27,247.90.

Maruti Suzuki (up 3.87%), Tech Mahindra (up 3.85%), Tata Steel (up 3.43%), NTPC (up 3.28%) and Axis Bank (up 3.23%) were the top gainers of the day.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 9:

Small day range for trading on Nifty stands at 10,900-10,950 while the medium and bigger ranges lie between 10,850-11,000 and 10,825-11,025.

Small day range for trading on Bank Nifty stands at 27,125-27,300 while the medium and bigger ranges lie between 26,950-27,400 and 26,825-27,600.

For Existing Long Positions:

Nifty intraday and closing stop loss 10,840.

Bank Nifty intraday stop loss 26,950 and closing stop loss 26,800.

For Existing Short Positions:

Nifty intraday and closing stop loss 11,025.

Bank Nifty intraday and closing stop loss 27,325.

For New Positions:

Sell Nifty with a stop loss of 11,025 and target 10,900, 10,850.

Buy Nifty in 10,825-10,850 range with a stop loss of 10,800 and target 10,900, 10,925.

Sell Bank Nifty with a stop loss of 27,325 and target 27,125, 26,950, 26,825.

Buy Bank Nifty in 26,750-26,825 range with a stop loss of 26,650 and target 26,950, 27,125, 27,200.

The put-call ratio (PCR) is at 1.3 and the volatility index (VIX) is 16.27.

Sectors:

Positive: Metals

Negative: Auto, Banks, Small Finance Banks.

No stock in F&O Ban

Stock of the Day:

Sell Maruti Futures: Stop loss 6250 and target 6080, 6000, 5950. No GST cut hope, no stimulus package, no scrappage policy, plant shutdown by Maruti over the weekend.

Aaj ka Hero:

Sell Equitas Futures: Stop loss 118 and target 113, 111, 108. No relief from RBI on Small Finance Bank Listing requirement.