Anil Singhvi strategy August 17: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,375-19,425 levels and a strong buy zone at 19,250-19,325 levels on Thursday, August 17. For the Nifty Bank, he expects support at 43,600-43,775 levels and the next big base at 43,000.

Here's how Anil Singhvi sums up the market setup:

• Global: Negative

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Cautious

• Trend: Neutral

Singhvi sees a higher zone in the Nifty at 19,465-19,500 levels and a strong sell zone at 19,550-19,625 levels. For the banking index, he sees a higher zone at 44,125-44,275 levels and a strong sell zone at 44,400-44,575 levels.

ANIL SINGHVI MARKET STRATEGY

Traders can expect pressure at higher levels owing to weakness in global markets and foreign fund outflows, and their positions if the Nifty and the Nifty Bank close below 19,300 and 43,600 respectively, says Singhvi. 

He believes that closing levels above 19,650 (Nifty) and 44,600 (Nifty Bank) will be a sign of the end of weakness, and it is important for the banking index to close in the green. 

• FII index longs at 39 per cent vs 39 per cent the previous day

• Nifty put-call ratio (PCR) at 1.11 vs 0.99

• Nifty Bank PCR at 0.84 vs 0.79

• Fear index India VIX up one per cent at 12.13

For existing long positions:

• Nifty intraday stop loss at 19,250 and closing stop loss at 19,300

• Nifty Bank intraday and closing stop loss at 43,600

For existing short positions:

• Nifty intraday stop loss at 19,550 and closing stop loss at 19,650

• Nifty Bank intraday stop loss at 44,225 and closing stop loss at 44,600

For new positions in Nifty:

• The best range to sell Nifty is 19,465-19,550 with a stop loss at 19,650 for targets of 19,435, 19,415, 19,375, 19,325, 19,260 and 19,200

• The best range to buy Nifty is 19,275-19,375 with a stop loss at 19,200 for targets of 19,425, 19,465, 19,500, 19,535, 19,565 and 19,600

For new positions in Nifty Bank:

• For aggressive traders, the best range to sell Bank Nifty is 44,400-44,550 with a strict stop loss at 44,625 for targets of 44,275, 44,200, 44,100, 44,025, 43,950, 43,775 and 43,600

• Buy Nifty Bank in two tranches at 43,600 and 43,775 with a strict stop loss at 43,475 for targets of 43,950, 44,000, 44,100, 44,200, 44,275, 44,400 and 44,525

11 stocks in F&O ban:

• New in ban: Hindustan Copper, SAIL

• Already in ban: GNFC, Manappuram Finance, Granules, Zee Entertainment, Indiabulls Housing Finance, Chambal Fertilisers, Delta Corp, India Cements, Balrampur Chini

• Out of ban: None

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