Anil Singhvi's Market Strategy September 17: FMCG is positive; PSU Banks, Metals are negative

Sustained buying interest throughout the trading session helped the benchmark domestic Indian market to move up by almost 1 per cent on September 14, 2018 (Friday). On the day, the S&P BSE Sensex closed 0.99 per cent or 372.68 points higher at 38,090.64. Similarly, Nifty 50 saw a growth of 1.28 per cent or 145.30 points and closed at 11,515.20 while Nifty Bank went up by 1.29 per cent or 344.65 points to close at 27,163.85. 

Positive foreign institutional investors (FII), neutral global outlook, domestic institutional investors (DIIs), and future and option (F&O) cues suggest that the short-term trend of the Indian market will remain neutral on September 17, 2018. However, the traders are advised to be cautious while trading in the market today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for September 17: 
11,500 and 27,100 are going to be the deciding level on Nifty and BankNifty. 
The small trading range on Nifty stands at 11,425-11,550 and the bigger range lies between 11,400-11,600. 
Small Trading range in BankNifty stands at 27,000-27,250 and the bigger range lies between 26,800-27,350. 
Traders are advised to increase their buying positions on the two indices if Nifty and BankNifty closes above the mark of 11,500 and 27,200. 

Sell and Buy strategy on Nifty
Sell Nifty with a stop loss of 11,550 and target of 11,435-11,400. 
 Buy Nifty in the range of 11,400-11,435 with a stop loss of 11,370 and a target of 11,475-11,500. 

Sell and Buy strategy on BankNifty
Sell BankNifty with a stop loss of 27,300 and a target of 27,000- 26,900-26,800. 
Buy BankNifty in the range of 26,800-26,900 with a stop loss of 26,750 and a target of 27,000- 27,125.
 
The put-call ratio (PCR) stands at 1.33 and the volatility index (VIX) is 13.84. 

Sectors:
Negative: PSU Banks, Metals
Positive: FMCG
 
Enters F&O Ban: Balrampur Chini
Already in Ban: Adani Ent
 
Stock of the Day:
Sell Union Bank Futures: Stop loss 85 and Target 81, 79.50

Exposure to IL&FS group will be negative. 

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