Zee Business Managing Editor Anil Singhvi expects the Nifty to find support in the 17,950-18,000 band in the January 18 session, below which, he sees a strong buy zone at 17,850-17,900 levels. He sees the 50-scrip benchmark facing resistance in the 18,075-18,150 zone, followed by a strong sell zone at 18,175-18,250 levels. 

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

  • Global: Neutral
  • FII: Positive
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive

For the Nifty Bank, Anil Singhvi sees support at 41,875-42,025 levels, below which, he expects a strong buy zone in the 41,725-41,775 band. 

He expects the banking index to face resistance at 42,375-42,500 levels, above which, he predicts a strong sell zone at 42,575-42,725 levels. 

Index Support levels Higher levels
Nifty 18,025, 18,000, 17,975, 17,950, 17,900, 17,850 18,075, 18,100, 18,125, 18,150, 18,200, 18,250
Nifty Bank 42,175, 42,125, 42,075, 42,025, 41,875, 41,775, 41,725 42,300, 42,375, 42,450, 42,500, 42,575, 42,675, 42,725
  • FIIs index long at 45 per cent vs 40 per cent
  • Put-call ratio (PCR) at 1.16 vs 0.8 
  • Bank Nifty PCR at 0.81 vs 0.72
  • India VIX down three per cent at 14.59

Anil Singhvi market strategy

For existing long positions:

  • Nifty intraday and closing stop loss at 17,850
  • Bank Nifty intraday stop loss at 41,700 and closing stop loss at 42,000

For existing short positions:

  • Nifty intraday and closing stop loss at 18,150
  • Bank Nifty intraday stop loss at 42,725 and closing stop loss at 42,625

For new positions in Nifty50:

  • Buy Nifty in the 17,850-17,900 range
  • Stop loss at 17,775; Targets: 17,950, 17,975, 18,000, 18,050, 18,075
  • For aggressive traders: Buy Nifty with a strict stop loss at 17,900 for targets of 18,075, 18,100, 18,125, 18,150, 18,200 and 18,250
  • Sell in the 18,100-18,200 range with a strict stop loss at 18,275 for targets of 18,075, 18,050, 18,000, 17,975, 17,950 and 17,900

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 41,875-42,025 range with a stop loss at 41,700 for targets of 42,075, 42,175, 42,225, 42,300 and 42,375
  • For aggressive traders: Buy Nifty Bank with a strict stop loss at 42,000 for targets of 42,300, 42,375, 42,450, 42,500, 42,575, 42,675 and 42,725
  • Sell Nifty Bank in the 42,500-42,675 range with a stop loss at 42,750 for targets of 42,450, 42,375, 42,300, 42,225, 42,175, 42,100 and 42,025

F&O ban

  • New in ban: Delta Corp, Manappuram Finance
  • Already in ban: L&T Finance, GNFC, Indiabulls Housing Finance
  • Out of ban: None

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