Anil Singhvi strategy July 4: 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 19,200-19,250 levels and a strong buy zone at 18,975-19,025 levels on Tuesday, July 4. For the Nifty Bank, he expects support at 44,750-44,900 levels and a strong buy zone at 44,450-44,525 levels.  

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

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard points out that a move in the Nifty sustaining above the 19,350 mark can continue up to 19,450-19,500 levels. The Nifty Bank will be in a "blue sky zone" above the 45,350 level, he adds.

• FIIs index longs on a higher side at 70 per cent vs 69 per cent the previous day 
• Nifty put-call ratio (PCR) at 1.48 vs 1.58
• Nifty Bank PCR unchanged at 1.40
• Feare index India VIX up seven per cent at 11.54

ANIL SINGHVI MARKET STRATEGY

The market guru suggests buying at the first fall in the market on Tuesday, with buying zones in the Nifty and the Nifty Bank at 19,200-19,250 and 44,750-44,900 ranges respectively.

He recommends adopting a 'buy on dips' strategy for the day.

Singhvi expects July to be a highly positive month for Dalal Street. Read more on how market wizard Anil Singhvi views the ongoing July F&O series

For existing long positions:

• Nifty intraday stop loss at 19,175 and closing stop loss at 18,975
  Nifty Bank intraday stop loss at 44,850 and closing stop loss at 44,500

For existing short positions:

• Nifty intraday and closing stop loss at 19,350

• Nifty Bank intraday and closing stop loss at 45,375

For new positions in Nifty:

• Buy Nifty in the 19,200-19,250 range with a stop loss at 19,150 for targets of 19,325, 19,350, 19,400, 19,450 and 19,475

• Sell Nifty only if breaks below 19,175 with a stop loss at 19,350 for targets of 19,100, 19,025, 18,975 and 18,900

For new positions in Nifty Bank:

• Buy Nifty Bank in the 44,750-44,900 range with a stop loss at 44,700 for targets of 45,000, 45,150, 45,225 and 45,350

• Sell Nifty Bank only if it breaks below 44,725 with a stop loss at 45,000 for targets of 44,525, 44,450, 44,325 and 44,200

F&O ban update:

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

IDFC-IDFC Bank merger review:

Buy IDFC Ltd futures with a stop loss at Rs 110 for targets of Rs 116, Rs 120 and Rs 123

• Merger ratio of 17 per cent favourable for IDFC Ltd
• Book value of IDFC First Bank to increase by 4.9 per cent
• IDFC Ltd stock should settle in the Rs 116-123 range

Stocks of the day:

Buy Bajaj Finance futures with a stop loss at Rs 7,300 for targets of Rs 7,450, Rs 7,525 and Rs 7,600

• Strong quarterly update
• AUM up 32%, best quarterly growth

Book profit in Biocon futures on a gap-up opening; profit-booking zone at Rs 272-278 levels 

• Biocon Biologics launches Biosimilar Adalimumab in USA

Senco Gold IPO Preview:

Apply for listing gains and for the long term

Positives:

• Strong background of promoters and PE investors
• Healthy growth trend
• Impressive financial track record
• Attractive valuation

Negatives:

• Highly competitive business
• Heavy concentration in eastern India
• Debt increased from Rs 530 crore to Rs 1,177 crore in two years

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