Anil Singhvi strategy June 22: 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 18,755-18,825 levels and a strong buy zone at 18,660-18,725 levels on Thursday, June 22. For the Nifty Bank, the market wizard sees support at 43,625-43,750 levels and a strong buy zone at 43,400-43,525 levels. 

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

• Global: Negative

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,875-18,925 levels and a profit-booking zone at 18,950-19,025 levels.​ For the banking index, he sees a higher zone at 43,975-44,075 levels and a strong sell zone at 44,175-44,275 levels.   

• FII index longs at 53 per cent vs 52 per cent the previous day

• Nifty put-call ratio (PCR) for all contracts at 1.18 vs 1.16

• Nifty Bank PCR for all contracts at 0.95 vs 0.92

• Fear index India VIX up 1.44 per cent 11.29

ANIL SINGHVI MARKET STRATEGY

The market guru mentions lacklustre signals from global markets. He suggests profit-taking at higher levels and buying close to key support 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 18,650

• Nifty Bank intraday stop loss at 43,350 and closing stop loss at 43,450

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 18,825, 18,800, 18,755, 18,720, 18,690 and 18,660

• Buy Nifty in the 18,720-18,800 range with a stop loss at 18,650 for targets of 18,825, 18,850, 18,875, 18,900, 18,925 and 18,975

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank with a stop loss at 44,100 for targets of 43,775, 43,700, 43,625, 43,550, 43,500, 43,450, 43,400 and 43,350 

• Aggressive traders can buy Nifty Bank in the 43,500-43,625 range with a stop loss at 43,350 for targets of 43,675, 43,750, 43,800, 43,850, 43,925, 43,975 and 44,075

F&O ban update:

• New in ban: PNB

• Already in ban: BHEL, Delta Corp, HAL, Hindustan Copper, L&T Finance Holdings

• Out of ban: Indiabulls Housing Finance, India Cements

Stock of the day:

Buy Mankind Pharma with a stop loss at Rs 1,680 for targets of Rs 1,725, Rs 1,740 and Rs 1,765

• Strong presence in the Indian market 
• Reduction in raw material prices

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.