Anil Singhvi’s Strategy July 31: Private Banks & NBFC are Negative; Sell Axis Bank Futures with Stop Loss 710

Benchmark domestic indices on Tuesday, July 30, 2019, closed with losses for the second session in a row even as cues from Asian stocks were positive. 

Anil Singhvi’s Strategy July 31: Private Banks & NBFC are Negative; Sell Axis Bank Futures with Stop Loss 710

Amid positive domestic institutional investors (DIIs), neutral global markets, futures and options (F&O), foreign institutional investors (FIIs) and negative sentiment cues, the short-term trend of the domestic Indian markets will be Negative today on Wednesday, July 31, 2019.

Benchmark domestic indices on Tuesday, July 30, 2019, closed with losses for the second session in a row even as cues from Asian stocks were positive. The Sensex at the Bombay Stock Exchange declined 289.13 points, or 0.77 per cent, to end at 37,397.24. The Nifty at National Stock Exchange also depreciated 103.80 points, or 0.93 per cent, to settle at 11,085.40 while Bank Nifty declined 504.30 points, or 1.72 per cent, and closed at 28,791.60. 

Bharti Airtel (up 3.99 per cent) and TCS (up 2.17 per cent) were the top gainers of the day while Yes Bank (down 9.45 per cent), IndusInd Bank (down 7.16 per cent), Indiabulls Housing Finance (down 6.57 per cent) and Hero MotoCorp (down 5.59 per cent) were the top losers. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 31:
The small day range for trading on Nifty stands at 11,050-11,150 while the medium-range lies between 11,000-11,225. 
The small day range for trading on Bank Nifty stands at 28,700-28,950 while the medium and big ranges lie between 28,650-29,100 and 28,550-29,200 respectively. 
Put-Call Ratio (PCR) 0.97 at very low, short-covering expected at a lower level. 

For Existing Long Positions:
Nifty intraday and closing stop loss 11,000. 
Bank Nifty intraday and closing stop loss 28,700. 

For Existing Short Positions:
Nifty intraday and closing stop loss 11,225. 
Bank Nifty intraday and closing stop loss 29,125. 

For New Positions:
Sell Nifty in 11,175-11,200 range with a stop loss of 11,250 and target 11,100, 11,075. 
Buy Nifty with a stop loss of 11,000 and target 11,150, 11,175
Sell Bank Nifty in 29,000-29,100 range with a stop loss of 29,200 and target 28,900, 28,700. 
Buy Bank Nifty near 28,550 with a stop loss of 28,500 and target 28,700, 28,850. 

Sectors: 
Negative: Private Banks, NBFC

Watch Zee Business Live TV

Stock of the Day: Sell Axis Bank Futures: Stop loss 710 and target 675, 655, 630. Weak Results and poor asset quality. 

Aaj Ka Hero: Sell Tech Mahindra Futures: Stop loss 645 and target 625, 615. Margin weak and results below expectation. 

Written By: ZeeBiz WebTeam
Edited By: Arun Kumar Chaubey
Updated: Wed, Jul 31, 2019
09:11 AM IST
Mumbai, ZeeBiz WebDesk
RELATED NEWS
EMI calculation: Should you pay or not? Anil Singhvi explains what home loan, auto loan, other borrowers should do EMI calculation: Should you pay or not? Anil Singhvi explains what home loan, auto loan, other borrowers should do
Anil Singhvi: Unless coronavirus vaccine comes, things will not improve significantly Anil Singhvi: Unless coronavirus vaccine comes, things will not improve significantly
EXPLAINED! Anil Singhvi on his campaign to protect investors and save their hard-earned money; reveals market strategy going forward EXPLAINED! Anil Singhvi on his campaign to protect investors and save their hard-earned money; reveals market strategy going forward
Anil Singhvi’s Strategy March 30: 8,300-8,400 is Next Support Zone on Nifty Anil Singhvi’s Strategy March 30: 8,300-8,400 is Next Support Zone on Nifty
Zee Business Impact: RBI puts stamp of approval on Anil Singhvi's demand to cut repo rate by 75 bps Zee Business Impact: RBI puts stamp of approval on Anil Singhvi's demand to cut repo rate by 75 bps

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x