Anil Singhvi’s Strategy February 4: IT sector is Positive; Oil Companies & Banks are Negative

The market on Friday, February 1, 2019, cheered the interim Union Budget 2019 as the stock markets, Sensex and Nifty, saw a rise of more than 0.50 per cent. On the day, S&P BSE Sensex rose 212.73 points, or 0.59 per cent, to end at 36,469.43 while Nifty 50 climbed 62.70 points, or 0.58 per cent, to 10,893.65. However, Nifty Bank crawled down 209.45 points, or 0.77 per cent, to close at 27,085.95. 

Neutral global market, domestic institutional investors (DIIs) and future and option (F&O), positive foreign institutional investors (FII) and cautious sentiments cues suggest that the short-term trend of the Indian market will be positive on Monday, February 4, 2019. 

See Zee Business video below:

#LIVE | देखिए बाजार का शुरुआती एक्शन #FirstTrade में @AnilSinghviZEE और बाजार के दिग्गजों के साथ। https://t.co/OOIPDpHFqo

— Zee Business (@ZeeBusiness) February 4, 2019

‪Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 4:
10,900 and 27,000 are going to be the deciding level on Nifty and Bank Nifty. 
The small and medium trading range on Nifty lies between the mark of 10,825-10,925 and 10,800-10,975 while the extreme range stands at 10,700-10,925. 
In the case of the Bank Nifty, the small and medium trading ranges lies between 27,000-27,200 and 26,900-27,300 while the extreme range stands at 26,800-27,500. 
Traders are advised the reduce buying positions if the two indices, Nifty and Bank Nifty, close below the mark of 10,800 and 27,000. 
However, they, the traders, should close their positions in case the two indices close below the mark of 10,650 and 26,800. 

Buy and Sell Strategy on Nifty
Sell Nifty in 10,925-10,975 range with a stop loss of 11,000 and target 10,850, 10,825. 
Buy Nifty in 10,800-10,850 range with a stop loss of 10,750 and target 10,900, 10,925. 

Buy and Sell Strategy on Bank Nifty
Sell Bank Nifty in 27,300-27,450 range with a stop loss of 27,550 and target 27,250, 27,150, 27,050. 
Buy Bank Nifty in 26,700-26,800 range with a stop loss of 26,600 and target 26,900, 27,000. 

Sectors:
Positive: IT
Negative: Oil Cos. Banks

Result Analysis:
Buy Titan Futures Stop loss 985 and target 1010, 1020, 1030. Futures range from 965 to 1040. Strong results as expected, book profit after a gap up. 
Divi’s Lab: Strong results as expected, book profit in 1575-1600 range. Support range 1480-1525. 

Stock of the Day:
Sell SRF Futures: Stop loss 1995 and target 1940, 1900. Weak results expected. Stock weak before results, keep trailing stop loss.  

Sell DHFL Cash: Stop loss 115 and target 100. CARE put Rs1.20 Lac Debt under watch. 

Aaj Ka Hero:
Sell Reliance Communication Futures: Stop loss 12 and target 9.50, 8.50. R com goes to NCLT. Rs40,000 crore debt is difficult to repay.