Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 18,690-18,755 levels and a strong buy zone at 18,560-18,660 levels on Friday, June 23. 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: Neutral
  • FII: Negative
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive

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For the 50-scrip headline index, he expects a higher zone at 18,800-18,875 levels and a profit-booking zone at 18,900-19,000 levels.​ For the banking index, he sees a higher zone at 43,850-43,975 levels and a strong sell zone at 44,025-44,125 levels.   

  • FII index longs at 53 per cent vs 53 per cent the previous day
  • Nifty put-call ratio (PCR) for all contracts at 1.11 vs 1.18
  • Nifty Bank PCR for all contracts at 0.85 vs 0.95
  • Fear index India VIX up 2.26 per cent 11.55

ANIL SINGHVI MARKET STRATEGY

The market wizard points out slight weakness in global markets, and suggests booking profit at higher levels and buying around key support levels. 

Traders can expect a strong upmove above 18,900 and 44,100 levels in the Nifty and the Nifty Bank respectively, he says. They need not worry as long as the indices holds the 18,475 and 43,000 levels on a closing basis, he adds. 

For existing long positions:

  • Nifty intraday and closing stop loss at 18,550
  • 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 18,755, 18,720, 18,690, 18,660, 18,635, 18,600 and 18,560
  • Buy Nifty in the 18,635-18,720 range with a stop loss at 18,550 for targets of 18,755, 18,775, 18,800, 18,825, 18,850 and 18,875 

For new positions in Nifty Bank:

  • Aggressive traders can sell Nifty Bank in the 43,875-44,000 range with a stop loss at 44,125 for targets of 43,825, 43,775, 43,675, 43,625, 43,525, 43,450, 43,400 and 43,350
  • Aggressive traders can buy Nifty Bank in the 43,350-43,525 range with a stop loss at 43,200 for targets of 43,625, 43,675, 43,750, 43,800, 43,875, 43,925 and 43,975

F&O ban update:

  • New in ban: RBL Bank
  • Already in ban: BHEL, Hindustan Copper, L&T Finance Holdings, PNB
  • Out of ban: Delta Corp, HAL

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