Anil Singhvi’s Strategy September 25: Market Trend is Positive; Buy RCF with Stop Loss of 48.50

Amid positive domestic institutional investors (DIIs), neutral global market, futures and options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the domestic Indian share market will continue to be positive on Wednesday, September 25, 2019, while sentiment is cautious today.

Earlier on Tuesday, September 24, 2019, domestic stock markets closed divergently but remained almost flat. Other major global indices also traded in a narrow range. The Sensex at the Bombay Stock Exchange gained 7.11 points or 0.02% to end at 39,097.14. The Nifty at the National Stock Exchange slipped 12 points or 0.10% to close at 11,588.20. Bank Nifty lost 383.10 points or 1.25% to settle at 30,183.10. Banks and metal stocks witnessed correction after a recent rally. IT stocks bounced after steep losses in the past two sessions.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 25:

Day support zone on Nifty stands at 11,475-11,500 and Bank Nifty at 29,750-29,850.  
Higher Zone on the two indices, Nifty and Bank Nifty, stands at 11,650-11,700 and 30,500-30,650 respectively.
Small and medium day range for trading on Nifty lies between 11,500-11,650 and 11,475-11,700.

Small and medium day range for trading on Bank Nifty lies between 29,850-30,500 and 29,750-30,650 while the bigger range stands at 29,500-30,800.

For Existing Long Positions:
Nifty intraday and closing stop loss 11,450.
Bank Nifty intraday and closing stop loss 29,750.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,700.
Bank Nifty intraday and closing stop loss 30,700.

For New Positions:
Buy Nifty with a stop loss of 11,450 and target 11,650, 11,700.
Sell Nifty in 11,650-11,700 range with a stop loss of 11,725 and target 11,550, 11,500, 11,475.
Buy Bank Nifty in 29,800-29,900 range with a stop loss of 29,750 and target 30,000, 30,150, 30,500.
Sell Bank Nifty in 30,500-30,650 range with a stop loss of 30,800 and target 30,200.

No stock in F&O Ban
The put-call ratio (PCR) is at 1.43 and the volatility index (VIX) is 16.73.

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Stock of the Day:
Buy RCF: Stop loss 48.50 and target 51, 52. High-level meeting on DBT today on Fertilizer subsidy.