Anil Singhvi Market Strategy August 1: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,850-24,950 levels and a strong buy zone at 24,775-24,835 levels on Thursday, August 1. 

For the Nifty Bank, he expects support to come in at 51,275-51,350 levels followed by a strong buy zone at 51,000-51,175 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 65 per cent vs 66 per cent the previous day

• Nifty put-call ratio (PCR) at 1.28 vs 1.23

• Nifty Bank PCR at 0.90 vs 0.77

• Volatility index India VIX up three per cent at 13.25

He expects a "blue-sky zone" above 25,050 for the headline index with the next target near the 25,200 mark.  

For the banking index, he expects a higher zone at 51,775-51,950 and a profit-booking zone at 52,175-52,350 levels.

What to do when Nifty50 crosses 25,000 mark?

• Hold on to long positions
• Buy every dip
• Trend very strong as long as Nifty50 stays above 24,400 on a closing basis
• Plenty of opportunities in midcap & smallcap stocks 
• Buy stocks available at attractive valuations; focus on companies staging good results 
• PSU stocks to remain strong

Nifty Bank August F&O Series Outlook

• August series has ended positively in six out of the past 10 years
• Index shed 1,317 points in July series
• Rollovers moderately high, at 76 per cent
• Wait for a breakout on either side in the 51,000-52,000 range
• A breakout beyond the upper end of the range more likely

What to do with Infosys shares?

• Rs 32,000 crore GST notice is quite big
• No need to panic; buy in case of a gap-down start to the day
• Good entry point in futures at Rs 1,815-1,835 
• Investors may hold on to their positions

EDITOR’S TAKE

• Wall Street investors cheering hopes of a September rate cut
• Strong buying by domestic funds
• FII outflows decreasing
• Metal, mining and auto stocks to attract buying interest on the back of strong results
• Fiscal deficit data signals economic strength

ANIL SINGHVI MARKET STRATEGY   

For existing long positions:

• Nifty intraday and closing stop loss at 24,775
• Nifty Bank intraday and closing stop loss at 51,175

For existing short positions:

• Nifty intraday stop loss at 25,050 and closing stop loss at 24,950

• Nifty Bank intraday stop loss at 52,000 and closing stop loss at 51,800

For new positions in Nifty50: 

• Buy Nifty with a stop loss at 24,850 for targets of 25,000 and 25,050; above 25,050, hold long positions for a target near 25,200 with a trailing stop loss 

• Sell trigger in Nifty will only come if it breaks below 24,775; otherwise, aggressive traders can sell near 25,200 with a strict stop loss 50 points higher 

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 51,250-51,400 with a stop loss at 51,150 for targets of 51,550, 51,775, 51,875, 51,950, 52,075, 52,175, 52,275 and 52,350

• Aggressive traders can sell Nifty Bank in the 51,875-51,950 range with a strict stop loss at 52,050 for targets of 51,775, 51,550, 51,400, 51,325, 51,250 and 51,175

Stocks in F&O ban

• New in ban: Granules India
• Already in ban: India Cements
• Out of ban: None

Tata Steel Results Review 

• Operationally strong numbers
• Stock should go up 3-5 per cent but Rs 17,000 crore royalty issue from Odisha problematic
• Tata Steel futures have support at Rs 161, and higher levels at Rs 171, Rs 173 and Rs 175

Stocks of the Day

Buy Coal India futures with a stop loss at Rs 510 for targets of Rs 535, Rs 545 and Rs 555; Diwali target at Rs 625 

• Extraordinary strong performance
• Company set to get rerated

Buy Vedanta futures with a stop loss at Rs 443 for targets of Rs 458 and Rs 463

• Metals have bounced in the global markets post-Fed meeting

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