Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,125-23,225 levels and a strong buy zone at 23,000-23,075 levels for the headline Nifty50 index on Thursday, January 16. For the Nifty Bank, he expects support at 48,525-48,750 levels and a strong buy zone at 48,050-48,250 levels. 

Here's how the market guru sums up the trade setup this morning: 

  • Global: Positive
  • FII: Negative
  • DII: Positive
  • F&O: Positive
  • Sentiment: Positive
  • Trend: Negative
  • FII long positions unchanged at 17 per cent as on Wednesday
  • Nifty put-call ratio (PCR) at 0.82 vs 0.86
  • Nifty Bank PCR at 0.59 vs 0.60
  • Volatility index India VIX down one per cent at 15.26

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The market wizard sees a higher zone at 23,350-23,500 levels and a profit-booking zone at 23,525-23,635 levels for the headline index.  

For the banking index, he sees a higher zone at 49,225-49,475 levels and a profit-booking zone at 49,750-49,950 levels.  

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 23,050
  • Nifty Bank intraday stop loss at 48,500 and closing stop loss at 48,000

For existing short positions:

  • Nifty intraday stop loss at 23,350 and closing stop loss at 23,525
  • Nifty Bank intraday stop loss at 49,100 and closing stop loss at 49,500 

For new positions in Nifty50:

  • Buy Nifty with a stop loss at 23,100 for targets of 23,340, 23,425, 23,500, 23,550, 23,600 and 23,635
  • Aggressive traders can sell Nifty in the 23,500-23,625 range with a strict stop loss at 23,750 for targets of 23,425, 23,350, 23,265, 23,225 and 23,175

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 48,500 for targets of 49,075, 49,225, 49,375, 49,475, 49,750, 49,825 and 49,950
  • Aggressive traders can sell Nifty Bank in the 49,750-49,975 range with a strict stop loss at 50,250 for targets of 49,500, 49,400, 49,250, 49,100, 49,000 and 48,750

Stocks in F&O ban ​

  • New in ban: AB Fashion, Manappuram, Kalyan Jewellers
  • Already in ban: Angel One, Aarti Industries, L&T Finance, Bandhan Bank, Hindustan Copper, RBL Bank
  • Out of ban: None

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