Positive foreign institutional investors (FIIs) and sentiments, neutral global market and domestic institutional investors (DIIs) and cautious futures & options (F&O) cues suggest that the short-term trend of the domestic stock markets will be positive on Thursday, April 18, 2019.
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Zee Business Impact: RBI puts stamp of approval on Anil Singhvi's demand to cut repo rate by 75 bpsPositive foreign institutional investors (FIIs) and sentiments, neutral global market and domestic institutional investors (DIIs) and cautious futures & options (F&O) cues suggest that the short-term trend of the domestic stock markets will be positive on Thursday, April 18, 2019.
Earlier on Tuesday, April 16, 2019, the domestic stocks logged robust gains to hit record highs. The gains were backed by positive global cues and sustained buying by foreign portfolio investor as well as Met department's forecast of near-normal monsoon. On the day, Nifty and Sensex, both, hit a record high on intraday and closing basis.
The Sensex at the Bombay Stock Exchange climbed 369.80 points or 0.95 per cent to close above 39,000-mark at 39,275.64. The Nifty 50 was up by 96.80 points or 0.83 per cent to end at 11,787.15 and Bank Nifty rose 427.10 points or 1.42 per cent to 30,531.35.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 18:
11,800 and 30,500 are going to be the deciding levels on Nifty and Bank Nifty respectively.
11,650-11,725 is going to be the strong support zone on Nifty.
The small and medium day range for trading on Bank Nifty lies between 30,400-30,650 and 30,250-30,850.
PCR 1.82 and VIX 21.69, Traders are advised to be on alert on these higher levels.
For Existing Long Positions:
Nifty Intraday stop loss 11,725 and Closing stop loss 11,650.
Bank Nifty Intraday stop loss 30,400 and Closing stop loss 30,100.
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For Existing short positions:
Nifty and Bank Nifty Intraday and Closing stop loss already triggered.
For New Positions:
Buy Nifty with a stop loss of 11,725 and target 11,810, 11,850, 11,900.
Sell Nifty near 11,850-11,875 with a stop loss of 11,900 and target 11,800.
Buy Bank Nifty in 30,350-30,425 range with a stop loss of 30,225 and target 30,500, 30,650.
Sell Bank Nifty near 30,650 with a stop loss of 30,700 and target 30,550, 30,450.
The put-call ratio (PCR) stands at 1.82 and the volatility index (VIX) is 21.69.
Enters F&O Ban: Vodafone Idea
Exit Ban: Wockhardt
4 Already in Ban: IDBI, Jet Air, Reliance Power, DHFL, PC Jewellers
Watch this Zee Business video:
Result Analysis:
Buy Wipro Futures: Stop loss 277 and target 287, 290, 295. Buyback at 325 is attractive for retail investors for investments. Minimum 40% shares acceptance possible.
Stock of the Day:
Sell Jet Airways Cash: Stop loss 245 and target 220, 215, 200. Jet operations come to complete halt.
Reliance Industries Futures: Book profit if opens up with a big gap in the range of 1380-1390. Can short with a strict Stop loss of 1400 and target 1355.
Aaj Ka Hero:
Buy Shree Digvijay Cement: Stop loss 17 and target 19.50, 20, 21. True North buys 54% stake in a block deal on April 16.
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