Anil Singhvi’s Strategy July 10: Market Trend is Neutral; Sell Indigo Futures and Stop Loss 1600

Amid positive domestic institutional investors (DIIs), neutral futures and options (F&O) and negative global markets and foreign institutional investors (FII) cues, the short-term trend of the domestic Indian markets will be neutral on Wednesday, July 10, 2019, while sentiment is cautious.

Earlier on Tuesday, July 9, 2019, Benchmark Domestic indices, Sensex and Nifty, closed almost flat after losing around three per cent in last two sessions amid a selloff in global equities. Sensex at Bombay Stock Exchange gained 10.25 points (0.03%) to end at 38,730.82 while Nifty at National Stock Exchange slipped 2.70 points (0.02%) to settle at 11,555.90. Bank Nifty lost 34.70 points (0.11%) and closed at 30,569.15. 

See Anil Singhvi's Tweet below:

#MarketStrategy | जानिए #Nifty और #BankNifty पर अनिल सिंघवी की दमदार रणनीति।@AnilSinghviZEE pic.twitter.com/9oOjliBTn1

— Zee Business (@ZeeBusiness) July 10, 2019

Indian Oil Corporation (up 5.73%), Bajaj Finance (up 5.59%) and Sun Pharma (up 5.51%) were the top gainers of the day while Titan, which slipped by 12.25%, was the biggest loser. The other major losers include UPL, TCS and GAIL. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 10: 
Nifty has given a breakdown signal below 11,625. Trend Negative if Bank Nifty trades below 30,200. 
The next important support range on the two indices, Nifty and Bank Nifty, resides at 11,350-11,400 and 30,200-30,300 respectively. 
The small day range for trading on Nifty stands at 11,500-11,625 while the medium and bigger ranges lie between 11,450-11,650 and 11,350-11,725 respectively.
The small day range for trading on Bank Nifty stands at 30,500-30,700 while the medium and bigger ranges lie between 30,350-30,850 and 30,200-31,000 respectively. 
Put-Call Ratio (PCR) 0.91 oversold and the volatility index (VIX) 13.69 very low. 

For Existing Long Positions:
Nifty intraday stop loss 11,450 and closing stop loss 11,550.
Bank Nifty intraday stop loss 30,350 and closing stop loss 30,500. 

For Existing Short Positions:
Nifty intraday and closing stop loss 11,625. 
Bank Nifty intraday and closing stop loss 30,700. 

For New Positions:
Buy Nifty near 11,450 with a stop loss of 11,425 and target 11,500, 11,550, 11,575. 
Sell Nifty with a stop loss of 11,625 and target 11,525, 11,500, 11,450. 
Buy Bank Nifty near 30,350 with a stop loss of 30,200 and target 30,450, 30,550, 30,650.
Sell Bank Nifty in 30,600-30,700 range with a stop loss of 30,800 and target 30,500, 30,350, 30,250.

In F&O Ban: Reliance Capital, DHFL. 

Result Analysis:
Sell TCS Futures: Stop loss 2140 and target 2080, 2060, 2040. Weak results. 

Stock of the Day:
Sell Hexaware Futures: Stop loss 360 and target 345, 340. Weak results expected. 
Sell Indigo Futures: Stop loss 1600 and target 1525, 1500, 1460. Corporate Governance issues raised by the promoter. 

Aaj Ka Hero:
Sell Reliance Infrastructure Futures: Stop loss 49.50 and target 43, 41.