Anil Singhvi’s Strategy October 10: Telecom Sector is Positive; Buy Tata Motors Futures with Stop Loss of 120

Amid positive domestic institutional investors (DIIs), neutral global markets, foreign institutional investors (FIIs) and futures and options (F&O) cues, the short-term trend of Indian share market will be positive on Thursday, October 10, 2019, while sentiment will continue to be cautious.

Earlier on Wednesday, October 9, 2019, the domestic equity benchmarks ended with robust gains. The Sensex climbed 645.97 points or 1.72% to regain 38,000-mark at 38,177.95, propelled by gains in banking, financial and metal stocks. After opening on a cautious note, the 30-share index gained momentum in afternoon trade. Similarly, the 50-share NSE Nifty zoomed 186.90 points or 1.68% to finish at 11,313.30. The Bank Nifty gained 1,018.30 points or 3.67% and closed at 28,785.85. 

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 10:

Strong buy zone on Nifty stands at 11,100-11,175 and Bank Nifty at 27,550 -27,750.

Higher zone on Nifty stands at 11,375-11,400 and Bank Nifty at 29,100-29,400.

The small day range for trading on Nifty stands at 11,250-11,325 while the medium and bigger ranges lie between 11,175-11,375 and 11,125-11,400.

The small day range for trading on Bank Nifty stands at 28,400-28,950 while the medium and bigger ranges lie between 28,250-29,100 and 27,750-29,500. 

For Existing Long Positions:

Nifty intraday stop loss 11,250 and closing stop loss 11,175.

Bank Nifty intraday and closing stop loss 28,400. 

For Existing Short Positions:

Nifty intraday and closing stop loss 11,375.

Bank Nifty intraday and closing stop loss 29,000. 

For New Positions:

Buy Nifty in 11,175-11,250 range with a stop loss of 11,090 and target 11,250, 11,300, 11,375.

Sell Nifty with a stop loss of 11,400 and target 11,250, 11,175, 11,150.

Buy Bank Nifty in 28,250-28,400 range with a stop loss of 28,150 and target 28,750, 28,950, 29,100.

Sell Bank Nifty with a stop loss of 29,000 and target 28,400, 28,250, 28,150. 

The put-call ratio (PCR) is 1.20and the volatility index (VIX) is 17.16. 

Sectors:

Positive: Telecom

Stock of the Day:

Buy Tata Motors Futures: Stop loss 120 and target 125, 129. GDR up 4%, NITI Aayog has asked the government to place orders for 60,000 buses.