Anil Singhvi strategy April 26: Important levels to track in Nifty 50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,665-17,725 levels and a strong buy zone at 17,550-17,625 levels on Wednesday, April 26. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 42,375-42,500 levels and a strong buy zone at 42,150-42,275 levels.

Here's how Anil Singhvi sums up the market setup on April 26: 

• Global: Negative

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,775-17,825 levels and a strong sell zone at 17,850-17,925 levels.​ For the banking index, he sees a higher zone at 42,725-42,850 levels and a strong sell zone at 42,950-43,075 levels.

• FII index longs at 45 per cent on Wednesday vs 44 per cent the previous day
• Nifty put-call ratio (PCR) at 1.16 vs 1.13
• Nifty Bank PCR at 1.05 vs 1.25
• Fear index India VIX down one per cent at 11.52

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 17,600
• Nifty Bank intraday and closing stop loss at 42,250

For existing short positions:

• Nifty intraday and closing stop loss at 17,875
• Nifty Bank intraday and closing stop loss at 43,000

For new positions in Nifty:

• Buy Nifty in the 17,625-17,700 range with a stop loss at 17,550 for targets of 17,750, 17,775, 17,800, 17,825 and 17,850

• Sell Nifty in the 17,800-17,875 range with a stop loss at 17,925 for targets of 17,750, 17,725, 17,700, 17,665 and 17,625

For new positions in Nifty Bank:

• Buy Bank Nifty in the 42,275-42,375 range with a stop loss at 42,200 for targets of 42,500, 42,600, 42,675, 42,725 and 42,850

• Aggressive traders can buy Nifty Bank with a strict stop loss at 42,450 for targets of 42,725, 42,850, 42,950, 43,000, 43,075 and 43,150

• Aggressive traders can sell Nifty Bank in the 42,850-43,000 range with a strict stop loss at 43,150 for targets of 42,725, 42,675, 42,600, 42,500, 42,375 and 42,275

F&O ban

• New in ban: Zee Entertainment
• Out of ban: None
• Already in ban: None

Q4 results review

Bajaj Auto

• Strong results on all parameters
• Improvement in margins
• Outlook better for FY24

Tata Consumers

• Strong results
• Outperformance by global business
• Wait for conference call today
• Stock has already run up before results

Dalmia Bharat 

• Weak performance due to cost pressure
• Stock to fall 2-3 per cent

AU Small Finance 

• Strong results on all parameters
• Commentary bit cautious

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