Anil Singhvi’s strategy September 18: Market Trend & Sentiment are negative; Buy Coal India Futures with Stop Loss 196

Amid neutral global market, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures and options (F&O) and negative sentiment cues, the short-term trend of the domestic Indian share market is going to be negative today.

Anil Singhvi’s strategy September 18: Market Trend & Sentiment are negative; Buy Coal India Futures with Stop Loss 196

Amid neutral global market, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures and options (F&O) and negative sentiment cues, the short-term trend of the domestic Indian share market is going to be negative on Wednesday, September 18, 2019.

Earlier on Tuesday, September 17, 2019, domestic equity indices plunged around 1.70 per cent. Benchmark stocks logged losses amid crude prices surge and negative cues from global markets. Sensex at Bombay Stock Exchange tumbled 642.21 points or 1.73% to end at 36,481.09. Nifty at National Stock Exchange also declined 185.90 points or 1.69% to settle at 10,817.60. Similarly, Bank Nifty fell 723.25 points or 2.60% and closed at 27,131.75.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 18:

10,800 and 27,000 are going to be the deciding levels on Nifty and Bank Nifty respectively.
The small and medium day range for trading on Nifty lies between 10,800-10,875 and 10,750-10,925. The bigger range resides at 10,700-10,950.
The small and medium day range for trading on Bank Nifty lies between 27,000-27,450 and 26,800-27,550. The bigger range resides at 26,650- 27,750.
Next support zone on the two indices, Nifty and Bank Nifty, lies between the mark of 10,750-10,800 and 26,750-26,800 respectively.
Put-Call Ratio (PCR) 0.98 at near oversold level and highest Put OI at 10,800, the volatility index (VIX) sharply up 16.02.

For Existing Long Positions:
Nifty intraday and closing stop loss 10,800.
Bank Nifty intraday and closing stop loss 27,000.

For Existing Short Positions:
Nifty intraday and closing stop loss 10,950.
Bank Nifty intraday and closing stop loss 27,600.

For New Positions:
Buy Nifty with a stop loss of 10,750 and target 10,875, 10,900, 10,925.
Sell Nifty in 10,920-10,950 range with a stop loss of 11,000 and target 10,850, 10,825.
Buy Bank Nifty with a stop loss of 27,000 and target 27,450, 27,550.
Sell Bank Nifty in 27,500-27,550 range with a stop loss of 27,750 and target 27,150, 27,050.
No stock in F&O Ban

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Stock of the Day: Buy Coal India Futures: Stop loss 196 and target 201, 204. Company planning to hire 9000 employees.

Written By: Jitesh Kumar Jha
Edited By: Arun Kumar Chaubey
Updated: Wed, Sep 18, 2019
08:43 AM IST
Mumbai, ZeeBiz WebDesk
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