Anil Singhvi strategy July 3: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the Nifty index coming in at 18,975-19,025 levels on Monday, July 3. The market wizard sees a strong buy zone in the Nifty Bank in the 44,450-44,525 band. 

He points out "blue sky zones" in the Nifty and the Nifty Bank above 19,200 and 44,800 levels respectively. 

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Cautious

• Sentiment: Positive

• Trend: Positive

For the banking index, he expects a higher zone at 44,425-44,500 levels and a blue sky zone above the 44,550 mark.    

• FII index longs at 69 per cent vs 66 per cent the previous day

• Nifty put-call ratio (PCR) near overbought levels, at 1.58 vs 1.41

• Nifty Bank PCR at 1.40 vs 1.30

• Fear index India VIX down one per cent at 10.8

ANIL SINGHVI MARKET STRATEGY

The market guru expects July to be a highly positive month for Dalal Street. He highlights that the market has registered a return exceeding three per cent in 16 out of the last 20 years in this month. Since 2014, there has been only one instance of a negative return in July, he says. 

He suggests holding on to long positions in the Nifty and the Nifty Bank with stop loss levels at 18,550 and 43,000 respectively. 

For existing long positions:

• Nifty intraday and closing stop loss at 18,950

• Nifty Bank intraday stop loss at 44,450 and closing stop loss at 44,000

For existing short positions:

• Nifty intraday and closing stop loss at 19,200

• Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

• Buy Nifty in the 18,975-19,025 range with a stop loss at 18,850 for targets of 19,100, 19,175 and 19,200

• Aggressive traders can buy Nifty with a stop loss at 19,100 for a target of 19,200 with a stop loss in multiples of 50 points for higher levels

For new positions in Nifty Bank:

• Buy Nifty with a stop loss at 44,300 for targets of 44,750, 44,800, 44,875 and 44,950

• Aggressive traders can buy Nifty Bank with a stop loss at 44,450 for targets of 44,950, 45,025, 45,100 and 45,200; beyond 44,800, hold on to the position with a stop loss of 100 

F&O ban update:

• New in ban: IB Housing Finance
• Already in ban: None
• Out of ban: None

Stocks of the day: 

Buy APL Apollo Tubes with a stop loss at Rs 1,292 for targets of Rs 1,333 and Rs 1,354

• Strong quarterly update

Buy Ultratech futures with a stop loss at Rs 8,260 for targets of Rs 8,420 and Rs 8,490

• Strong quarterly update

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