Anil Singhvi strategy June 20: 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 18,635-18,690 levels and a strong buy zone at 18,550-18,600 levels on Tuesday, June 20. For the Nifty Bank, the market wizard sees support at 43,275-43,400 levels and a strong base at 43,000-43,200 levels. 

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

• Global: Negative

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,750-18,800 levels and a strong sell zone at 18,825-18,875 levels.​ For the banking index, he sees a higher zone at 43,675-43,800 levels and a strong sell zone at 43,875-44,075 levels.   

• FII index longs at 51 per cent vs 55 per cent the previous day

• Nifty put-call ratio (PCR) for all contracts at 0.98 vs 1.29

• Nifty Bank PCR for all contracts at 0.75 vs 0.99

• Fear index India VIX rises 3.55 per cent to 11.23

ANIL SINGHVI MARKET STRATEGY

Global markets are giving cautious signals, as reflected in a halt in foreign institutional investors' buying of Indian shares. Supply-related pressure is expected in the Indian market owing to a big block deal, Singhvi says. 

One can expect profit-taking at higher levels and buying is advised strictly around key support levels, he says.

Traders need not worry as long as the Nifty and the Nifty Bank stay above 18,475 and 43,000 on a closing basis, he adds.

For existing long positions:

• Nifty intraday stop loss at 18,600 and closing stop loss at 18,475

• Nifty Bank intraday and closing stop loss at 43,375

For existing short positions:

• Nifty intraday and closing stop loss at 18,900

• Nifty Bank intraday and closing stop loss at 44,100

For new positions in Nifty:

• Sell Nifty with a stop loss at 18,825 for targets of 18,690, 18,660, 18,635, 18,600, 18,565 and 18,535

• Buy Nifty in the 18,550-18,635 range with a stop loss at 18,475 for targets of 18,660, 18,690, 18,715, 18,750, 18,790 and 18,825

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 43,850 for targets of 43,500, 43,400, 43,325, 43,275, 43,200, 43,125, 43,075 and 43,000

• Aggressive traders can buy Nifty Bank in the 43,200-43,400 range with a stop loss at 43,000 for targets of 43,500, 43,625, 43,675, 43,800, 43,875 and 43,950

F&O ban update:

• New in ban: HAL

• Already in ban: Delta Corp, Indiabulls Housing Finance, IEX, India Cements, L&T Finance Holdings, Manappuram, Tata Chemicals, ZEEL

• Out of ban: IEX

Stock of the day:

Sell Concor futures with a stop loss at Rs 672 for targets of Rs 651 and Rs 643

• Concor takes first major cut in pricing in Mundra and Pipavav ports
• Price cut taken to retain market share
• CMD will be changed in October 2023

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