Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark to come in at 18,025-18,075 levels on Wednesday as Dalal Street heads into the Republic Day market holiday the next day. Further below, he sees a strong buy zone in the 17,950-18,000 area. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support at 42,450-42,575 levels, and a strong buy zone in the 42,225-42,375 band. 

Here's how Anil Singhvi sums up the market setup on January 25: 

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

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,150-18,200 levels, and further above, a strong sell zone in the 18,250-18,300 band. For the banking index, he sees a higher zone at 42,825-42,950 levels, and a strong sell area in the 43,000-43,150 zone. 

Index Support levels Higher levels
Nifty50 18,100, 18,075, 18,050, 18,025, 18,000, 17,950, 17,900 18,150, 18,175, 18,200, 18,250, 18,275
Nifty Bank 42,625, 42,575, 42,500, 42,450, 42,375, 42,300, 42,225 42,825, 42,950, 43,000, 43,075, 43,150, 43,200, 43,250
  • FIIs index longs at 58 per cent on Wednesday vs 56 per cent on Tuesday
  • Put-call ratio (PCR) at 0.81 on Wednesday vs 0.94 the previous day
  • Nifty Bank PCR at 0.75 vs 0.95 the previous day
  • Fear gauge India VIX flat at 13.66

Anil Singhvi market strategy

For existing long positions:

  • Nifty50 intraday stop loss at 17,950 and closing stop loss at 18,000
  • Nifty Bank intraday stop loss at 42,450 and closing stop loss at 42,300

For existing short positions:

  • Nifty intraday and closing stop loss at 18,250
  • Nifty Bank intraday and closing stop loss at 43,100

For new positions in Nifty:

  • Buy Nifty in the 18,000-18,075 range with a stop loss at 17,950 for targets 18,100, 18,125, 18,150, 18,175 and 18,200
  • Sell Nifty with a stop loss at 18,250 for targets of 18,075, 18,050, 18,025, 18,000, 17,950, 17,900

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 42,225-42,375 range with a stop loss at 42,100 for targets of 42,450, 42,500, 42,550, 42,625, 42,700 and 42,825
  • Aggressive traders can buy Nifty Bank near 42,500 with a strict stop loss at 42,375 for targets of 42,550, 42,625, 42,700, 42,825, 42,950 and 43,000
  • Sell Nifty Bank in the 42,900-43,075 range with a stop loss at 43,150 for targets of 42,825, 42,725, 42,625, 42,550, 42,500 and 42,450
  • Aggressive traders can sell the banking index with a strict stop loss at 43,000 for targets of 42,625, 42,575, 42,500, 42,450, 42,375, 42,300 and 42,225

F&O ban

  • Out of ban: PVR, Delta Corp, L&T Finance
  • New in ban: None
  • Already in ban: None

Catch LIVE stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.