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

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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

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