Anil Singhvi’s Strategy October 15: Market Trend is Neutral; Sell Bank of Baroda Futures with Stop Loss 90

Amid positive domestic institutional investors (DIIs) and sentiment, neutral global markets, futures and options (F&O) and foreign institutional investors (FIIs) cues, the short-term trend of Indian share market will be neutral on Tuesday, October 15, 2019.

Earlier on Monday, October 14, 2019, the domestic stock markets closed with marginal gains amid positive global cues. The Sensex at the Bombay Stock Exchange rose 87.39 points or 0.23% to end at 38,214.47. The Nifty also added 36.10 points or 0.32% to settle at 11,341.15. Bank Nifty gained 139.45 points or 0.50% to close at 28,181.95. The indices, however, sharply pared gains in late trade amid profit selling at higher levels. Weakness in IT major Infosys, which declined 3.50% put pressure on bourses.

See Zee Business Live TV streaming below:

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 15: 

Strong Buy zone on Nifty is 11,175-11,225 and Bank Nifty is 27,700 -27,900.

Higher Zone on Nifty 11,425-11,475 and Bank Nifty is 28,550-28,750.

The small day range on Nifty stands at 11,300-11,400 while the medium and bigger ranges lie between 11,250-11,425 and 11,200-11,475.

The small day range on Bank Nifty stands at 28,050-28,400 while the medium and bigger ranges lie between 27,900-28,550 and 27,750-28,750. 

For Existing Long Positions:

Nifty intraday and closing stop loss 11,275.

Bank Nifty intraday and closing stop loss 28,000. 

For Existing Short Positions:

Nifty intraday and closing stop loss 11,425.

Bank Nifty intraday and closing stop loss 28,250. 

For New Positions:

Buy Nifty with a stop loss of 11,275 and target 11,400, 11,425, 11,475.

Sell Nifty in 11,425-11,475 range with a stop loss of 11,500 and target 11,375, 11,325.

Buy Bank Nifty with a stop loss of 27,900 and target 28,400, 28,550, 28,750.

Sell Bank Nifty in 28,550-28,750 range with a stop loss of 28,900 and target 28,400, 28,250. 

The put-call ratio (PCR) is 1.18 and the volatility index (VIX) is 17.43. 

Result Analysis:

HUL Futures: 1930-1955 support range, 2040-2070 higher zone. In-Line results and 5% volume growth. No Surprise, no shock 

Stock of the Day:

Sell Bank of Baroda Futures: Stop loss 90 and target 86, 85. MD Jayakumar not getting an extension is negative.