Anil Singhvi strategy July 18: 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 19,565-19,600 levels and a strong buy zone at 19,500-19,525 levels on Tuesday, July 18. For the Nifty Bank, he expects support at 45,225-45,350 levels and a strong buy zone at 45,075-45,175 levels.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a "blue sky zone" in the Nifty above 19,750. For the banking index, he sees a higher zone at 45,550-45,650 levels and a blue sky zone above 45,650.

• FII index longs unchanged at 70 per cent
• Nifty put-call ratio (PCR) on a higher side, at 1.54 vs 1.34
• Nifty Bank PCR on a higher side, at 1.46 vs 0.86
• Fear index India VIX up six per cent at 11.32

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests a 'buy on dips' strategy and adds that only closing levels below 19,300 and 44,600 in the Nifty and the Nifty Bank should be considered a sign of weakness.

He expects strength in banking and NBFC stocks owing to HDFC Bank results and the proposed demerger of Jio Financial. One can use earnings to seek buying opportunities in IT stocks, he adds. 

For existing long positions:

• Nifty intraday stop loss at 19,500 and closing stop loss at 19,375

• Nifty Bank intraday and closing stop loss at 45,000

For existing short positions:

• Nifty intraday and closing stop loss at 19,750

• Nifty Bank intraday and closing stop loss at 45,700

For new positions in Nifty:

• Buy Nifty in the 19,565-19,600 range with a stop loss at 19,500 for targets of 19,700 and 19,725; above 19,750, Nifty in a blue sky zone

• A sell trigger in the Nifty will come only if it trades below 19,300

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,175-45,350 range with a stop loss at 45,000 for targets of 45,450, 45,550, 45,650; above 45,650, Nifty Bank in a blue sky zone  

• A sell trigger in Nifty Bank will come only if it trades below 45,000

Stocks in F&O ban:

• Out of ban: Hindustan Copper, PNB
• Already in ban: RBL Bank, Delta Corp, Manappuram Finance, Indiabulls Housing Finance
• New in ban: None

Why are we positive on the IT sector?

• Expectation of recovery in the US
• Expectations low from companies
• Reasonable valuations
• Despite weak results, companies maintaining full-year guidance
• Big deals pipeline very strong
• ‘Buy in dips’ strategy

Results review:

18th July Strategy : आज की स्ट्रैटेजी

#BuyonDips #Q1Earnings #Q1FY24 #niftyOptions #BankNiftyOptions #LTIMindtree

Zee Business LIVE-https://t.co/rU8YL4R2AT pic.twitter.com/sNiXIsjUzE

— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 18, 2023

LTIMindtree

• Results below estimates on all fronts
• Outlook positive
• Buying expected from lower levels as stock already part of Nifty
• Strong support zone at Rs 4,800-4,950 

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