Anil Singhvi strategy July 12: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty headline index coming in at 19,375-19,425 levels and a strong buy zone at 19,300-19,350 levels on Wednesday, July 12. For the Nifty Bank, he expects support at 44,450-44,525 levels and a strong buy zone at 44,125-44,325 levels.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects higher levels in the Nifty in the 19,475-19,525 band and a "blue sky" area above 19,550. For the banking index, he sees a higher zone at 45,000-45,125 levels and a strong sell zone at 45,175-45,350 levels.

• FII index longs on a higher side, unchanged at 72 per cent
• Nifty put-call ratio (PCR) at 1.08 vs 0.98
• Nifty Bank PCR near oversold levels, at 0.67 vs 0.74 
• Fear index India VIX down four per cent at 11.01

ANIL SINGHVI MARKET STRATEGY

Market guru Singhvi suggests a 'buy on dips' strategy for traders with a focus on stock-specific action. He expects a strong move in the headline index once it holds the 19,550 level, and views the 44,300-44,500 band in the Nifty Bank as a strong buying zone.

For existing long positions:

• Nifty intraday and closing stop loss at 19,275

• Nifty Bank intraday and closing stop loss at 44,650

For existing short positions:

• Nifty intraday and closing stop loss at 19,550

• Nifty Bank intraday and closing stop loss at 45,225

For new positions in Nifty:

• Buy Nifty with a stop loss at 19,275 for a target of 19,500, and hold long positions above 19,525 with a trailing stop loss of 50 points 

• Aggressive traders can sell Nifty in the 19,500-19,525 range with a strict stop loss at 19,550 for targets of 19,440, 19,400, 19,375, 19,350, 19,325 and 19,300

For new positions in Nifty Bank:

• Buy Nifty Bank in the 44,350-44,525 range with a stop loss at 44,100 for targets of 44,650, 44,700, 44,750, 44,800, 44,850, 44,925 and 45,000

• Aggressive traders can buy Nifty Bank with a strict stop loss at 44,450 for targets of 44,850, 44,925, 45,000, 45,075, 45,125, 45,175 and 45,225

• Sell Nifty Bank in the 45,125-45,225 range with a stop loss at 45,425 for targets of 45,000, 44,925, 44,850, 44,800, 44,750 and 44,675

F&O ban update:

• New in ban: Manappuram Finance
• Already in ban: Indiabulls Housing Finance, PNB, Zee Enterprises, Granules India, India Cements, Delta Corp, BHEL
• Out of ban: None

Stock of the day:

Sell Pidilite futures with a stop loss at Rs 2,690 for targets of Rs 2,615, Rs 2,590 and Rs 2,570

• Double downgrade by Citi from 'buy' to 'sell'
• Target reduced from Rs 2,880 to Rs 2,220

Utkarsh Small Finance Bank IPO: Apply for big listing gains and for the long term

The market wizard has pointed out the few points about the small finance bank: 

Positive

• Strong background of promoters 
• Huge growth opportunity
• Attractive valuation

Negative

• Cost of funds higher than peers
• Asset quality not stable
• Profit jumped just before the IPO

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