Anil Singhvi strategy June 14: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 18,600-18,635 levels and a strong buy zone at 18,535-18,565 levels on Wednesday, June 14. For the Nifty Bank, the market wizard sees support at 43,800-43,875 levels and a strong buy zone at 43,525-43,675 levels. 

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

• Global: Positive

• FII: Positive

• DII: Neutral 

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,775-18,825 levels and a profit-booking zone at 18,875-18,950 levels.​ For the banking index, he sees a higher zone at 44,175-44,275 levels and a strong sell zone at 44,375-44,500 levels.   

• FII index longs at 51 per cent vs 49 per cent the previous day

• Nifty put-call ratio (PCR) for all contracts at 1.13 vs 0.92

• Nifty Bank PCR for all contracts at 0.87 vs 0.78

• Fear index India VIX down 1.2 per cent at 11.11

ANIL SINGHVI MARKET STRATEGY

The market guru points out strength in the global markets given a reading from the US showing easing consumer inflation in the world's largest economy. Foreign institutional investors have returned to strong buying on Dalal Street, and one can find selective opportunities in the midcap as well as smallcap segments, he says.   

Traders need not worry as long as the Nifty and the Nifty Bank stay above 18,450 and 43,650 levels on a closing basis respectively, he adds.   

For existing long positions:

• Nifty intraday and closing stop loss at 18,550

• Nifty Bank intraday and closing stop loss at 43,775

For existing short positions:

• Nifty intraday stop loss at 18,800 and closing stop loss at 18,725

• Nifty Bank intraday and closing stop loss at 44,550

For new positions in Nifty:

• Buy Nifty with a stop loss at 18,550 for targets of 18,775, 18,825, 18,875, 18,925 and 18,950

• Aggressive traders can sell Nifty in the 18,775-18,875 range with a strict stop loss at 18,925 for targets of 18,725, 18,690, 18,635, 18,600 and 18,565

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,675-43,825 range with a stop loss at 43,500 for targets of 43,875, 43,925, 43,975, 44,025, 44,075 and 44,125

• Aggressive traders can buy Nifty Bank with a strict stop loss at 43,850 for targets of 44,175, 44,225, 44,275, 44,340, 44,425 and 44,475

• Sell Nifty Bank in the 44,350-44,475 range with a stop loss at 44,550 for targets of 44,275, 44,225, 44,175, 44,125, 44,075, 44,025, 43,950 and 43,875

F&O ban update:

• New in ban: BHEL, Manappuram 
• Already in ban: Indiabulls Housing Finance, India Cements, IEX, Delta Corp
• Out of ban: None

Stock of the day:

Sell Tata Chemicals futures with a stop loss at Rs 994 for targets of Rs 960 and Rs 954 (adjusted for the Rs 17.5/share dividend)

• Company has lowered soda ash prices by Rs 2300/MT 
• Highest reduction since November 22 
• Third straight price cut 
• Shares to trade ex-dividend ​

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