Anil Singhvi’s Strategy June 11: Market Trend is Neutral; Buy Sterlite Tech with Stop Loss 172

Amid positive global market, neutral futures and options (F&O), foreign institutional investors (FII) and domestic institutional investors (DIIs) cues, the short-term trend of the domestic Indian market will be neutral on Tuesday, June 11, 2019, and sentiment is Positive.  

Earlier on Monday, June 10, 2019, the domestic stocks that faced a volatile session closed in the green on the back of global strength. Nifty registered gains of 52.05 points, or 0.44 per cent, and closed at 11,922.70 while S&P BSE Sensex was up by 168.62 points, or 0.43 per cent, to close at 39,784.52. However, the Bank Nifty closed in a negative zone after losing 32.55 points, or 0.10 per cent, at 31,034.00. 

See Anil Signhvi's tweet below:

#MarketStrategy | पढ़िए #Nifty और #BankNifty पर अनिल सिंघवी की दमदार रणनीति।@AnilSinghviZEE pic.twitter.com/xBVxcvNSs7

— Zee Business (@ZeeBusiness) June 11, 2019

Britannia, Tech Mahindra, and TCS were the top gainers of the day – up by 3.47 per cent, 2.41 per cent and 2.17 per cent – respectively. BPCL, Yes Bank and Coal India were the top losers – down by 3.26 per cent, 2.43 per cent and 2.22 per cent, respectively. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 11:
11,900 and 31,000 are the deciding levels on Nifty and Bank Nifty respectively. 
The small and medium day range for trading on Nifty lies between 11,875-11,975 and 11,825-12,000. The bigger range is 11,750-12,075.
The small and medium day range for trading on Bank Nifty lies between 30,850-31,250 and 30,650-31,375. The bigger range is 30500-31500
Trend positive again if Nifty closes above 11,950, and Bank Nifty above 31,250. 

For Existing Long Positions:
Nifty intraday and closing basis stop loss 11,825. 
Bank Nifty intraday and closing basis stop loss 30,800. 

For Existing Short Positions:
Nifty intraday stop loss 12,000 and closing basis stop loss 11,950. 
Bank Nifty intraday and closing basis stop loss 31,250. 

For New Positions:
Buy Nifty with a stop loss of 11,825 and target 11,975, 12,000, 12,035. 
Sell Nifty in 12,000-12,035 range with a stop loss of 12,110 and target 11,950. 

Buy Bank Nifty with a stop loss of 30,850 and target 31,250, 31,375, 31,500. 
Sell Bank Nifty in 31,375-31,500 range with a stop loss of 31,550 and target 31,250, 31,150. 

No new in or out in F&O Ban.
Already in Ban: IDBI, DHFL, PC Jewel
 
The put-call ratio (PCR) stands at 1.36 and the volatility index (VIX) is 14.97.

Stock of the Day:
Sell Indiabulls Housing Futures: Stop loss 735 and target 720, 705. Given in ‘Kal Ke 2000’, a segment on Zee Business Channel, book profit at the gap down opening. 

Aaj Ka Hero:
Buy Sterlite Technologies: Stop loss 172 and target 178, 180. Promoters revoked full 52 per cent pledged stake.