Anil Singhvi’s Strategy September 16: Cement Sector is Positive; Sell HPCL Futures with Stop loss 275

Amid neutral domestic institutional investors (DIIs), futures and options (F&O) and foreign institutional investors (FIIs) and negative global market cues, the short-term trend of the domestic Indian markets will be neutral on Monday, September 16, 2019, while the sentiments will be cautious.

Earlier on Friday, September 13, 2019, the key benchmarks, Sensex and Nifty, ended the volatile session with strong gains. Sensex at Bombay Stock Exchange climbed 280.71 points or 0.76 per cent to close at 37,384.99. Nifty at National Stock Exchange also added 93.10 points or 0.85 per cent to settle at 11,075.90 while Bank Nifty gained 280.25 points or 1.01 per cent and closed at 28,098.75. Investors' sentiment got a boost as improving US-China trade relations and a rate cut from the European Central Bank (ECB) eased fears of a global economic slowdown.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 16:

11,000 and 27,800 are the deciding levels on Nifty and Bank Nifty respectively.

Day support zone on the two indices, Nifty and Bank Nifty, stands at 10,950-10,975 and 27,750-27,800 respectively.

Below these levels, very strong support at Nifty stands at 10,875 and Bank Nifty stands at 27,550.

Strong only if the two indices trade above Nifty 11,000 and Bank Nifty 28,000.

Higher-level on the two indices, Nifty and Bank Nifty, resides at 11,075 and 28,100 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 10,950.

Bank Nifty intraday and closing stop loss 27,750

For Existing Short Positions:

Nifty intraday and closing stop loss 11,100.

Bank Nifty intraday and closing stop loss 28,150.

For New Positions:

Buy Nifty in 10,925-10,975 range with a stop loss of 10,875 and target 11,000, 11,025, 11,075.

Sell Nifty with a stop loss of 11,100 and target 11,000, 10,975, 10,950.

Buy Bank Nifty in 27,750-27,800 range with a stop loss of 27,700 and target 27,950, 28,100.

Sell Bank Nifty with a stop loss of 28,150 and target 27,950, 27,800

The put-call ratio (PCR) is at 1.34 and the volatility index (VIX) is 14.12.

Sectors:

Positive: Cement buy on dips

Negative: OMC, Paint, Aviation

No stock in F&O Ban

Stock of the Day:

Sell HPCL Futures: Stop loss 275 and target 265, 261. Higher crude and weaker rupee impact.

Sell Asian Paints Futures: Stop loss 1560 and target 1530, 1515. Higher crude, weaker rupee impact.

Aaj ka Hero:

Sell Indigo Futures: Stop loss 1735 and target 1690, 1680. Higher crude, weaker rupee impact.