Anil Singhvi Market Strategy January 29: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about his views on key support and resistance levels for the Nifty and the Nifty Bank, and what he makes of the market now.
![Anil Singhvi Market Strategy January 29: Important levels to track in Nifty50, Nifty Bank today](https://cdn.zeebiz.com/sites/default/files/2025/01/29/348637-anilsinghviofficial.jpg?im=FitAndFill=(1200,900))
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,800-23,900 levels and a strong buy zone at 23,525-23,750 levels for the headline Nifty50 index on Wednesday, January 29. For the Nifty Bank, he expects support at 48,200-48,450 levels and a strong buy zone at 47,800-48,075 levels.
Here's how the market guru sums up the trade setup this morning:
-
Global: Positive
-
FII: Negative
-
DII: Positive
-
F&O: Neutral
-
Sentiment: Negative
-
Trend: Negative
-
FII long positions at 25 per cent vs 23 per cent the previous day
-
Nifty put-call ratio (PCR) at 0.95 vs 0.75
-
Nifty Bank PCR at 0.75 vs 0.59
-
Volatility index India VIX up 0.5 per cent at 18.20
The market wizard sees a higher zone at 23,050-23,150 levels and a strong sell zone at 23,200-23,350 for the headline index.
For the banking index, he sees a higher zone at 49,250-49,450 levels and a strong sell zone at 49,650-49,825 levels.
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 22,750
- Nifty Bank intraday stop loss at 48,375 and closing stop loss at 48,000
For existing short positions:
- Nifty intraday and closing stop loss at 23,150
- Nifty Bank intraday stop loss at 49,350 and closing stop loss at 49,000
For new positions in Nifty50:
-
The best range to buy Nifty is 22,800-22,900 with a stop loss at 22,700 for targets of 22,950, 23,000, 23,050, 23,100, 23,125, 23,200 and 23,265
-
Aggressive traders can sell Nifty in the 23,125-23,250 range with a strict stop loss at 23,350 for targets of 23,050, 23,000, 22,950, 22,850 and 22,800
For new positions in Nifty Bank:
-
Aggressive traders can buy Nifty Bank in the 48,200-48,450 range with a strict stop loss at 48,000 for targets of 48,750, 48,850, 49,000, 49,250, 49,350, 49,450 and 49,650
-
Aggressive traders can sell Nifty Bank in the 49,250-49,450 range with a strict stop loss at 49,650 for targets of 49,000, 48,875, 48,750, 48,575, 48,450 and 48,325
Stocks in F&O ban
- Out of ban: IndiaMart, PNB, MGL, Manappuram
- New in ban: None
- Already in ban: None
RESULTS REVIEWS
SBI Card
- Sell SBI Card futures for targets of Rs 750, Rs 735 and Rs 725 with a stop loss at Rs 775
- Another weak quarter
- Stock up 14 per cent in three months
- Expect profit-booking at higher levels
Bajaj Auto
Bajaj Auto futures have support at Rs 8,320 and an expected higher level at Rs 8,570
- Results stop loss atightly better than expectations
BHEL
- Results looking strong but internals not great
- Buy only at support levels
- BHEL futures have support at Rs 184 and expected higher levels at Rs 194 and Rs 197
MGL
- Results looking strong but internals not great
- Buy only near support levels
- Futures have support at Rs 1,240 and Rs 1,255 and an expected higher level at Rs 1,300
Colgate-Palmolive
- Weak results as expected but stock won’t fall much
- Colgate has support at Rs 2,620 and an expected higher level at Rs 2,715
GMR Airports
- Results in line with expectations
- Futures have support at Rs 68 and an expected higher level at Rs 74
M&M Finance
- Results slightly positive
- Earnings are looking good because of the PCR adjustment
- Futures have support at Rs 267 and expected higher levels at Rs 277 and Rs 283
Exide
- Results little above estimates
- Better product mix, margin trend encouraging
- Lithium plant should start anytime soon
- Stock down 26% in three months
- Buy at lower levels
- Futures have support at Rs 327, Rs 333 and Rs 338 and expected higher levels at Rs 348, Rs 355 and Rs 365
BUDGET PICK
Buy Cipla shares for targets of Rs 1,800 and Rs 1,950 from a perspective of 1-3 years
- Make an SIP on every 10 per cent drop
Stock of the Day
Buy TVS Motor futures for targets of Rs 2,365, Rs 2,385 and Rs 2,410 with a stop loss at Rs 2,310
- Strong post-results conference call
- Margin at an all-time high
- Outlook even better
- Rural business better than urban
Buy Suzlon for targets of Rs 52, 53 and Rs 55 with a stop loss at Rs 47.5
- Strong results
- Strong operational performance
- Stock already fell 30 per cent in three months.
- Risk taking investors can buy in small quantity
Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-slabs-2025-calculator-tax-you-need-to-pay-on-inr-1287500-annual-income-calculations-latest-taxation-rules-rebate-standard-deduction-marginal-relief-taxable-budget-347038](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/353002-top7-hybrid-funds-in-10-years-2.jpg?itok=jVfAvaIS)
New Tax Regime Slabs: Is your annual salary Rs 12,87,500? Do you need to pay tax on Rs 12,500 or Rs 12,87,500? See calculations to know
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-mutual-fund-lump-one-time-investments-for-retirement-corpus-planning-calculator-want-to-get-inr-rs-60000-per-month-income-at-60-years-of-age-know-your-deposit-financial-goal-346968](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/353003-top7-hybrid-funds-in-10-years-3.jpg?itok=5BjCdVVp)
SIP, One-time Investments for Retirement Planning: Want to get Rs 60,000 monthly income at 60? Know how much you need to invest if you are 25, 30, 35, or 40 years old?
![https://www.zeebiz.com/personal-finance/photo-gallery-8th-pay-commission-basic-monthly-salary-pension-slab-calculator-can-basic-pension-cross-inr-rs-300000-barrier-in-new-pay-scale-see-calculations-to-know-projected-fitment-factor-index-7th-pm-modi-old-346525](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352430-note-coin-pixabay-take.jpg?itok=yDmxceKf)
8th Pay Commission: Can basic pension cross Rs 3 lakh mark in new pay commission? See calculations to know its possibility?
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-fd-vs-sbi-400-day-fd-which-can-give-you-higher-maturities-on-rs-2-lakh-4-lakh-and-6-lakh-investments-346909](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352855-sbi-fd-2.png?itok=anQwE_Dj)
SBI 444-day FD vs SBI 400-day FD: Which can give you higher maturities on Rs 2 lakh, 4 lakh, and 6 lakh investments?
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-regime-slabs-old-existing-proposed-revised-calculator-what-will-be-your-tax-on-annual-income-salary-of-inr-rs-800000-1400000-2000000-2600000-nirmala-sitharaman-budget-2025-346889](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352870-top7-hybrid-funds-in-10-years-1.jpg?itok=UqwoA5Li)
Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?
![https://www.zeebiz.com/personal-finance/photo-gallery-dearness-relief-dr-pension-central-government-employee-calculator-calculations-is-your-basic-pension-rs-25000-35000-40000-50000-know-total-amount-AICPI-consumer-index-DA-benchmark-346424](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352375-untitled-design.jpg?itok=1_intAoD)
Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
09:24 AM IST