Anil Singhvi strategy July 19: 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 19,675-19,725 levels and a strong buy zone at 19,565-19,600 levels on Wednesday, July 19. For the Nifty Bank, he expects support at 45,125-45,275 levels and a strong buy zone at 44,925-45,075 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 higher zone in the Nifty at 19,800-19,825 levels and a "blue sky zone" above 19,825. For the banking index, he sees a higher zone at 45,550-45,650 levels and a profit-booking zone at 45,800-45,900 levels.

• FII index long at 71 per cent vs 70 per cent the previous day
• Nifty put-call ratio (PCR) at 1.34 vs 1.54
• Nifty Bank PCR at 0.99 vs 1.46
• Fear index India VIX up 3.5 per cent at 11.71

ANIL SINGHVI MARKET STRATEGY

19th July Strategy : आज की स्ट्रैटेजी #FirstTrade #MarketStrategy #TradingTips #Nifty #BankNifty

Zee Business LIVE-https://t.co/4Zi8Cp5B8G pic.twitter.com/o79n377BcB

— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 19, 2023

Singhvi recommends adopting a 'buy on dips' strategy for the day following the volatile trade on Tuesday, citing strong signals from global markets as well as foreign institutional investors. He points out that only closing levels below 19,300 and 44,600 in the Nifty and the Nifty Bank should be considered a sign of weakness respectively.

He also says that IndusInd Bank's results are a positive signal for private lenders. A report by Gartner has sent positive signals to IT shares, and one can expect stocks such as Infosys, Tech Mahindra and Zensar to stage strong moves, he adds.  

For existing long positions:

• Nifty intraday stopp loss at 19,550 and closing stop loss at 19,400

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

For existing short positions:

• Nifty intraday and closing stop loss at 19,825

• Nifty Bank intraday stop loss at 45,650 and closing stop loss at 45,500

For new positions in Nifty:

• Buy Nifty in the 19,565-19,600 range with a stop loss at 19,500 for targets of 19,675, 19,700, 19,725, 19,750 and 19,800

• Aggressive traders can buy Nifty with a strict stop loss at 19,600 for targets of 19,800 and 19,825; above 19,825, the Nifty is in a blue sky zone  

• A sell trigger in the Nifty will come only if it trades below 19,400

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,075-45,225 range with a stop loss at 44,900 for targets of 45,300, 45,350, 45,400, 45,450, 45,550 and 45,650

• Aggressive traders can buy Nifty Bank with a strict stop loss at 45,000 for targets of 45,550, 45,650, 45,800 and 45,900

• Aggressive traders can sell Nifty Bank in the 45,800-45,900 range with a stop loss at 46,000 for targets of 45,650, 45,550, 45,450, 45,400, 45,350 and 45,300

Stocks in F&O ban:

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

Stock of the day:

Buy IndusInd Bank futures with a stop loss at Rs 1,385 for targets of Rs 1,410, Rs 1,440, Rs 1,455 and Rs 1,470

• Strong results on all parameters
• Healthy loan growth
• Stable NIMs
• Improvement in asset quality
• Morgan Stanley raised target to 1800

Results review:

Sell LTTS futures with a stop loss at Rs 4,100 for targets of Rs 3,930 and Rs 3,850

• Weak performance on all parameters
• Company has maintained growth guidance at 20 per cent
• Large deals win satisfactory
• Investors should buy on big falls

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