Anil Singhvi strategy June 21: 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 18,715-18,755 levels and a strong buy zone at 18,635-18,690 levels on Wednesday, June 21. For the Nifty Bank, the market wizard sees support at 43,500-43,625 levels and a strong buy zone at 43,200-43,400 levels. 

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

• Global: Negative

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,840-18,880 levels and a profit-booking zone at 18,900-18,975 levels.​ For the banking index, he sees a higher zone at 43,875-43,975 levels and a strong sell zone at 44,075-44,175 levels.   

• FII index longs at 52 per cent vs 51 per cent the previous day

• Nifty put-call ratio (PCR) for all contracts at 1.16 vs 0.98

• Nifty Bank PCR for all contracts at 0.92 vs 0.75

• Fear index India VIX down 0.82 per cent at 11.13

ANIL SINGHVI MARKET STRATEGY

The market guru mentions cautious signals from global markets and supply-related pressure on Dalal Street owing to big block deals. He suggests buying around key support levels and profit-taking at higher levels.

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

For existing long positions:

• Nifty intraday and closing stop loss at 18,600

• Nifty Bank intraday and closing stop loss at 43,200

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 18,900 for targets of 18,755, 18,725, 18,690, 18,660 and 18,635

• Buy Nifty in the 18,660-18,755 range with a stop loss at 18,600 for targets of 18,800, 18,815, 18,840, 18,860 and 18,880

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 44,000 for targets of 43,675, 43,525, 43,450, 43,400, 43,350, 43,275 and 43,200

• Aggressive traders can buy Nifty Bank in the 43,350-43,500 range with a stop loss at 43,200 for targets of 43,625, 43,675, 43,750, 43,825, 43,875, 43,925 and 43,975

F&O ban update:

• New in ban: BHEL, Hindustan Copper

• Already in ban: Delta Corp, HAL, Indiabulls Housing Finance, India Cements, L&T Finance Holdings

• Out of ban: Manappuram, Tata Chemicals, ZEEL

Stock of the day:

Buy Shriram Finance near the block deal price for a 3-5 per cent upside; stop loss one per cent below the block deal price 

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