Anil Singhvi strategy June 15: 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 18,690-18,725 levels and a strong buy zone at 18,565-18,635 levels on Thursday, June 15. 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: Neutral

• FII: Positive

• DII: Negative

• 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 44,325-44,475 levels.   

• FII index longs at 54 per cent vs 51 per cent the previous day

• Nifty put-call ratio (PCR) for all contracts at 1.23 vs 1.13

• Nifty Bank PCR for all contracts at 0.73 vs 0.87

• Fear index India VIX up 0.47 per cent at 11.16

ANIL SINGHVI MARKET STRATEGY

The market wizard advises caution following the Fed's surprise pause on the key US lending rate along th a weak commentary. Market participants should be careful at higher levels, with strong moves expected only once the Nifty and the Nifty Bank cross decisively cross the 18,900 and 44,500 levels, he says. 

Traders need not worry as long as the Nifty and the banking index stay above 18,450 and 43,650 on a closing basis, 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 and closing stop loss at 18,825

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

For new positions in Nifty:

• Buy Nifty in the 18,600-18,660 range with a stop loss at 18,550 for targets of 18,690, 18,725, 18,750, 18,775 and 18,815

• 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, 18,660, 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

• Sell Nifty Bank in the 44,175-44,375 range with a stop loss at 44,550 for targets of 44,075, 44,025, 43,950, 43,875, 43,825, 43,750 and 43,675

F&O ban update:

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

Stocks of the day:

Sell Tata Chemicals in the cash market with a stop loss at 992 for targets of Rs 972, Rs 961 and Rs 951 

• Falling soda ash prices a big concern
• Morgan Stanley downgrades stock, cuts target to Rs 916 from Rs 1,192

Buy IndiGo futures with a stop loss at Rs 2,335 for targets of Rs 2,395, Rs 2,420 and Rs 2,440

• High airfares, low crude prices a big positive
• Morgan Stanley has 'overweight' rating with a target price of Rs 3,126

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