Anil Singhvi’s Strategy October 11: IT Stocks are Negative; Sell TCS Futures with Stop Loss of 2000

On account of positive DIIs, neutral F&O and negative FIIs, the short-term trend of Indian share market will be neutral, says Zee Business Managing Editor Anil Singhvi.

Anil Singhvi’s Strategy October 11: IT Stocks are Negative; Sell TCS Futures with Stop Loss of 2000

Amid positive domestic institutional investors (DIIs), neutral global markets and futures and options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of Indian share market will be neutral on Thursday, October 11, 2019, while sentiment will continue to be cautious.

See Zee Business tweet below:

Earlier on Thursday, October 10, 2019, the equity benchmarks, Sensex and Nifty, lost about 0.7 per cent amid mixed global stocks. Investors were cautious ahead of earnings reports from major IT services companies. A session of volatility was observed amid weekly index options expiry on NSE. On the day, BSE Sensex went down by 297.55 points or 0.78% to close below 38,000-mark at 37,880.40. The NSE Nifty also declined 78.75 points or 0.70% and closed at 11,234.55. Bank Nifty lost 772.40 points or 2.68% to settle at 28,013.45.

See Zee Business Live TV streaming below: 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 11:

STRONG BUY zone on Nifty stands at 11,100-11,175 and Bank Nifty is at 27,550 -27,750.

Higher zone on Nifty stands at 11,375-11,400 and Bank Nifty at 28,550-28,750.

The small day range for trading on Nifty stands at 11,200-11,300 while medium and bigger ranges lie between 11,175-11,325 and 11,075-11,400. 

The small day range for trading on Bank Nifty stands at 27,900-28,200 while medium and bigger ranges lie between 27,750-28,500 and 27,550-28,750.

See Zee Business tweet below:

For Existing Long Positions:

Nifty intraday and closing stop loss 11,175.

Bank Nifty intraday and closing stop loss 27,900. 

For Existing Short Positions:

Nifty intraday and closing stop loss 11,325.

Bank Nifty intraday and closing stop loss 28,550. 

For New Positions:

Buy Nifty in 11,175-11,200 range with a stop loss of 11,075 and target 11,250, 11,300, 11,375.

Sell Nifty in 11,300-11,325 range with a stop loss of 11,400 and target 11,250, 11,200, 11,175.

Buy Bank Nifty in 27,650-27,750 range with a stop loss of 27,500 and target 27,900, 28,050, 28,200.

Sell Bank Nifty in 28,500-28,700 range with a stop loss of 28,850 and target 28,400, 28,250, 28,050. 

Sectors:

Negative: IT

Positive: Metals 

Stock of the Day:

Sell TCS Futures: Stop loss 2000 and target 1900, 1870, 1830. Weak margins and business outlook, lower constant currency growth. Rs45 dividend will also pull down futures.

Written By: ZeeBiz WebTeam
Edited By: Asit Manohar
Updated: Fri, Oct 11, 2019
10:35 AM IST
New Delhi, ZeeBiz WebDesk
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