Anil Singhvi’s Strategy September 27: PSU Stocks are Positive; Sell Piramal Enterprises Futures with Stop Loss 1870

Amid positive sentiment, neutral global markets, domestic institutional investors (DIIs), foreign institutional investors (FIIs) and neutral futures and options (F&O) cues, the short-term trend of Indian share market will be positive on Friday, September 27, 2019.

Earlier on Thursday, September 26, 2019, the domestic equity benchmarks closed with gains of more than one per cent amid positive cues from global markets. The Sensex at Bombay Stock Exchange surged 396.22 points or 1.03 per cent to end at 38,989.74 while the Nifty at National Stock Exchange climbed 133.10 points or 1.22 per cent to settle at 11,573.30. Bank Nifty closed up by 427.25 points or 1.52 per cent at 30,013.30.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 27:

Strong support zone on Nifty and Bank Nifty lies between 11,450-11,500 and 29,500-29,650 respectively.
Higher zone for trading on the two indices, Nifty and Bank Nifty, lies between 11,650-11,700 and 30,550-30,800 respectively.
Small day range for trading on Nifty stands at 11,550-11,600 while the medium and bigger range lies between 11,500-11,650 and 11,450-11,700.
Small day range for trading on Bank Nifty stands at 29,800-30,175 while the medium and bigger range lies between 29,600-30,500 and 29,500-30,700.

For Existing Long Positions:
Nifty intraday stop loss 11,500 and closing stop loss 11,440.
Bank Nifty intraday stop loss 29,850 and closing stop loss 29,500.

For Existing Short Positions:
Nifty intraday and closing stop loss 11,625.
Bank Nifty intraday and closing stop loss 30,200.

For New Positions:
Buy Nifty near 11,500 with a stop loss of 11,440 and target 11,550, 11,575, 11,600.
Sell Nifty in 11,600-11,650 range with a stop loss of 11,700 and target 11,575, 11,550, 11,500.
Buy Bank Nifty in 29,600-29,700 range with a stop loss of 29,450 and target 29,850, 30,000, 30,150.
Sell Bank Nifty in 30,500-30,650 range with a stop loss of 30,800 and target 30,200, 30,050.

Sectors:

Positive: PSU

Negative: Auto

No stock in F&O Ban

The put-call ratio (PCR) is at 1.33 and the volatility index (VIX) is 16.34.

Watch Zee Business Live TV

Stock of the Day: 
Sell Yes Bank Futures: Stop loss 52 and target 49, 48. Promoters have sold 4.6 crore shares yesterday at 51.94 apiece.

Sell Piramal Enterprises Futures: Stop loss 1870 and target 1845, 1830. Softbank may not invest in PEL.