Anil Singhvi's Market Strategy for July 30: neutral on HCL Tech, ICICI Bank; Persistent stock of the day

The Sensex and Nifty jumped to record closing highs on Friday, driven by gains in heavyweight ITC on the back of strong quarterly results, while banks extended rally after lenders lined up to enrol for a scheme for faster bad-loan resolution.

The Sensex closed up 0.95 per cent at 37,336.85 after hitting a record high for a fourth straight session, the broader Nifty ended 0.99 per cent higher at 11,278.35 after hitting an all-time high of 11,283.40. 

Strong sentiments, negative global and positive foreign institutional investors (FII), domestic institutional investors (DIIs) and future and option (F&O) cues suggest that the Indian market will continue its impressive bull run and remain positive on July 27, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for July 30:

August Series is starting with very high OI and PCR at 1.71

The small trading range on Nifty stands at 11175 -11300 and the bigger range lies between 11025-11400. 

In the case of BankNifty, the small trading range will lie between 27500-27750, while 27400-28000 is going to be the bigger range. 

Important support zone on Nifty and BankNifty lies at 11125-11175 and 27400-27450 respectively. 

Anil Singhvi suggests traders to reduce their buying positions if Nifty and BankNifty close below 11,125 and 27,400. 

Buy and Sell Strategy on Nifty

Buy Nifty with a stop loss of 11175 and a target of 11300-11350-11400. 
Sell Nifty near 11400 with a stop loss of 11425 and a target of 11,175-11,150. 

Buy and Sell Strategy on BankNifty

Buy BankNifty with a stop loss of 27400 with a target of 27750-27900. 
Sell BankNifty with a stop loss of 18,000 and target of 27750. 

The put-call ratio (PCR) for July 30 stands at 1.71 and the volatility index (VIX) is 12.31.

Out of F&O Ban: Adani Ent
No other stock in Ban today
 
Result Analysis:

RIL: good results, profit booking at higher levels at 1155-1170
ICICI: Neutral results, outlook strong, profit booking at higher levels at 305-307
BOB: Strong results abd outlook, stock to go up 143-145
HCL Tech: Neutral, Buy if stock comes down to 915-925 and tender in buyback
Coromandel: Strong results and outlook

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Stock of the Day:

Buy Persistent with a target of 865-875 and a stoploss of 835.
 
TCNS IPO listing: To list near 750-760 range