Anil Singhvi Market Strategy January 7: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,450-23,550 levels and a strong buy zone at 23,265-23,350 levels for the headline Nifty50 index on Tuesday, January 7. For the Nifty Bank, he expects support at 49,650-49,750 levels and a stronger support zone at 49,075-49,275 levels. 

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 18 per cent vs 17 per cent before Monday's session

• Nifty put-call ratio (PCR) at 0.72 vs 0.86 

• Nifty Bank PCR at 0.70 vs 0.83 

• Volatility index India VIX up 15.5 per cent at 15.65

The market wizard sees a higher zone at 23,725-23,850 levels and a profit-booking zone at 23,870-24,000 levels for the headline index.  

For the banking index, he sees a higher zone at 50,475-50,725 levels and a profit-booking zone at 50,900-51,075 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 23,450 and closing stop loss at 23,550

• Nifty Bank intraday and closing stop loss at 49,700 

For existing short positions:

• Nifty intraday stop loss at 23,750 and closing stop loss at 23,825
• Nifty Bank intraday stop loss at 50,500 and closing stop loss at 50,750

For new positions in Nifty50:

• The best range to buy Nifty is 23,350-23,475 with a stop loss at 23,250 for targets of 23,550, 23,600, 23,650, 23,725, 23,750 and 23,800

• Aggressive traders can buy Nifty with a strict stop loss at 23,500 for targets of 23,725, 23,750, 23,800, 23,850, 23,925 and 24,000

• Aggressive traders can sell Nifty in the 23,800-23,925 range with a strict stop loss at 24,025 for targets of 23,750, 23,725, 23,650, 23,600, 23,550 and 23,525

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 49,075-49,275 with a stop loss at 49,000 for targets of 49,425, 49,650, 49,750, 49,900, 50,000 and 50,075

• Aggressive traders can buy Nifty Bank with a strict stop loss at 49,650 for targets of 50,175, 50,475, 50,600, 50,725, 50,850, 50,950 and 51,000

• Aggressive traders can sell Nifty Bank in the 50,725-50,950 range with a strict stop loss at 51,100 for targets of 50,500, 50,375, 50,075, 50,000, 49,925 and 49,800

Stocks in F&O ban ​

• New in ban: Hindustan Copper
• Already in ban: RBL Bank, Manappuram Finance
• Out of ban: None

Stocks of the Day

Buy Kalyan Jewellers futures with a stop loss at Rs 735 for targets of Rs 760, Rs 770 and Rs 782

• Strong quarterly update

Buy Info Edge futures with a stop loss at Rs 8,750 for targets of Rs 8,990, Rs 9,010 and Rs 9,175

• Strong quarterly update
• Standalone billings up 16 per cent at Rs 668 crore

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