Anil Singhvi strategy June 16: 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 18,600-18,660 levels and a strong buy zone at 18,535-18,565 levels on Friday, June 16. For the Nifty Bank, the market wizard sees support at 43,275-43,400 levels and a strong buy zone at 43,000-43,200 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 18,725-18,775  levels and a profit-booking zone at 18,800-18,875 levels.​ For the banking index, he sees a higher zone at 43,675-43,800 levels and a strong sell zone at 43,850-43,975 levels.   

• FII index longs at 52 per cent vs 54 per cent

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

• Nifty Bank PCR for all contracts at 0.66 vs 0.73, near oversold level

• Fear index India VIX down 0.74 per cent at 11.08

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 18,550

• Nifty Bank intraday and closing stop loss at 43,000

For existing short positions:

• Nifty intraday and closing stop loss at 18,825

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

For new positions in Nifty:

• Buy Nifty with a stop loss at 18,550 for targets of 18,725, 18,750, 18,770, 18,790, 18,815 and 18,875

• Sell Nifty in 18,750-18,825 range with a strict stop loss at 18,900 for target of 18,725, 18,690, 18,660, 18,635 and 18,600

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,200-43,400 range with a stop loss at 43,000 for targets of 43,500, 43,675, 43,750, 43,800 and 43,875

• Aggressive traders can buy Nifty Bank with a stop loss at 43,200 for targets of 43,675, 43,750, 43,800, 43,875, 43,925 and 43,975

• Aggressive traders can sell Nifty Bank in the 43,850-44,000 range with a stop loss at 44,200 for targets of 43,750, 43,675, 43,525, 43,450, 43,400, 43,325, 43,275 and 43,200

F&O ban update:

• New in ban: Tata Chemicals, L&T Finance Holdings

• Already in ban: BHEL, Manappuram, Indiabulls Housing Finance, India Cements, IEX, Delta Corp, ZEEL

• Out of ban: None

ALSO READ: IKIO Lighting makes a strong debut on D-Street; here's what Anil Singhvi recommends

Stock of the day:

Buy Ashok Leyland futures with a stop loss at Rs 155 for targets of Rs 162 and Rs 164

• Strong outlook by management
• Aims to gain market share in commercial vehicles
• Improvement in margin possible
• Nomura price target Rs 187

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