Anil Singhvi’s Strategy April 28: Private Bank, NBFC, Metal & Cement sectors are Positive; Buy IndusInd Bank Futures with Stop Loss 390

Anil Singhvi’s Strategy April 28: Amid positive global market, domestic institutional investors (DIIs), sentiments and neutral futures & options (F&O) and foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, April 28, 2020.

Domestic share markets ended with decent gains on Monday, April 27, 2020, led by a rally in financial stocks. The barometer S&P BSE Sensex gained 415.86 points or 1.33% at 31,743.08. The Nifty 50 index rose 127.90 points or 1.40% at 9,282.30. Bank Nifty gained 494.50 points or 2.52% to settle at 20,081.15. Trading sentiment got a boost after the Reserve Bank of India (RBI) on Monday announced a special liquidity facility of Rs 50,000 crore for mutual funds in the wake of the winding up of six debt funds by Franklin Templeton.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 28:

Strong Support Zone on Nifty 9,150-9,200 and Bank Nifty is 19,600-19,850.
Higher Zone on Nifty is 9,400-9,600 and Bank Nifty 20,650-20,850.

Small Day Range for trading on Nifty is 9,250-9,350, while the medium and bigger ranges are 9,175-9,375 and 9,150-9,500 respectively.
Small Day Range for trading on Bank Nifty is 19,850-20,450, while the medium and bigger ranges are 19,700-20,650 and 19,600-20,850 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 9,150.

Bank Nifty intraday and closing stop loss 19,700.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,400.

Bank Nifty intraday and closing stop loss 20,300. 

For New Positions:

Buy Nifty with a stop loss of 9,150 and target 9,350, 9,375, 9,400, 9,475.

Sell Nifty in 9,475-9,600 range with a stop loss of 9,650 and target 9,400, 9,350.

Buy Bank Nifty with a stop loss of 19,800 and target 20,300, 20,500, 20,650, 20,850

Sell Bank Nifty in 20,650-20,850 range with a stop loss of 21,000 and target 20,550, 20,450, 20,350.

Put-Call Ratio (PCR) is 1.36 and the Volatility Index (VIX) down 3% to 38.04.

Sector

Positive: Private Bank, NBFCs, Metal, Cement

Result Analysis

Buy IndusInd Bank Futures: Stop loss 390 and target 425, 445, 455. Strong Results, but provisioning up. Big Short Covering expected.

HDFC Life Futures: Mix Results. Support Zone 435-445 and Higher Range 525-545.

Stock of the Day

Buy Ambuja Cement Futures: Stop loss 170 and target 180, 183. Margins surprised, Operationally very strong results.