Anil Singhvi’s Strategy October 3: Market Trend is Neutral; Sell TVS Motors Futures with Stop Loss of 426

Amid positive domestic institutional investors (DIIs), neutral futures and options (F&O), negative global markets, foreign institutional investors (FIIs) and sentiment cues, the short-term trend of Indian share market will be neutral on Thursday, October 3, 2019.

Earlier on Tuesday, October 1, 2019, the key benchmarks tumbled amid selling in banks and financial stocks. The Sensex at Bombay Stock Exchange declined 361.92 points or 0.94% to close at 38,305.41. The Nifty at National Stock Exchange also fell 114.55 points or 1% to settle at 11,359.90 while Bank Nifty lost 377.65 points or 1.30% to settle at 28,725.50.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 3:

Day support zone on Nifty is 11,250-11,275 and on Bank Nifty is 28,000.

Strong buy zone on the two indices, Nifty and Bank Nifty, stands at 11,075-11,200 and 26,800-27,500.

Higher zone on Nifty and Bank Nifty stands at 11,450-11,500 and 29,500-29,750.

Small day range for trading on Nifty stands at 11,275-11,400 while the medium and bigger ranges lie between 11,200-11,450 and 11,075-11,500 respectively.

Small day range for trading on Bank Nifty stands at 28,500-28,950 while the medium and bigger ranges lie between 28,050-29,100 and 27,500-29,500 respectively.

Put-call ratio (PCR) near oversold 0.96, volatility index (VIX) 16.76 

For Existing Long Positions:

Nifty intraday stop loss 11,250 and closing stop loss 11,350.

BankNifty intraday stop loss 28,000 and closing stop loss 28,700. 

For Existing Short Positions:

Nifty intraday stop loss 11,400 and closing stop loss 11,500

BankNifty intraday stop loss 29,000 and closing stop loss 29,100. 

For New Positions:

Sell Nifty: with a stop loss of 11,400 and target 11,275, 11,250, 11,200.

Buy Nifty in 11,200-11,250 range with a stop loss of 11,150 and target 11,350, 11,400, 11,450.

Sell Bank Nifty with a stop loss of 29,100 and target 28,500, 28,050, 27,500.

Buy Bank Nifty near 28,100 with a stop loss of 27,950 and target 28,500, 28,700, 28,950. 

The put-call ratio (PCR) is at 0.96 and the volatility index (VIX) is 16.76. 

Stock of the Day:

Sell TVS Motors Futures: Stop loss 426 and target 410, 402, 395. September auto sales were weaker than expected.