Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,575-24,640 levels and a strong buy zone at 24,475-24,550 levels on Wednesday, August 21. For the Nifty Bank, he expects support to come in at 50,375-50,525 levels and a buy zone at 50,175-50,275 levels.

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He sees a higher zone for the headline index coming in at 24,775-24,825 levels and a profit-booking zone at 24,850-24,950 levels. For the Nifty Bank, he expects a higher zone at 50,975-51,075 levels and a profit-booking zone at 51,175-51,350 levels.

Here's how the market wizard sums up the market setup:  

  • Global: Neutral
  • FII: Neutral
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive
  • FII long positions at 52 per cent vs 50 per cent the pervious day
  • Nifty put-call ratio (PCR) at 1.27 vs 1.17
  • Nifty Bank PCR at 1.01 vs 0.78
  • Volatility index India VIX down 3.5 per cent at 13.82

ANIL SINGHVI MARKET STRATEGY   

For existing long positions:

  • Nifty intraday and closing stop loss at 24,500
  • Nifty Bank intraday and closing stop loss at 50,250

For existing short positions:

  • Nifty intraday and closing stop loss at 24,750
  • Nifty Bank intraday and closing stop loss at 51,100

For new positions in Nifty50:

  • The best range to buy Nifty is 24,540-24,640 with a stop loss at 24,500 for targets of 24,700, 24,730, 24,775, 24,800, 24,835 and 24,855
  • Aggressive traders can sell Nifty in the 24,775-24,850 range with a strict stop loss at 24,950 for targets of 24,735, 24,700, 24,640, 24,600, 24,575 and 24,550

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 50,375-50,525 with a stop loss at 50,250 for targets of 50,725, 50,800, 50,875, 50,975, 51,075, 51,250 and 51,350
  • Aggressive traders can sell Nifty Bank in the 51,175-51,350 range with a strict stop loss at 51,500 for targets of 51,025, 50,875, 50,800, 50,725, 50,600 and 50,525

Stocks in F&O ban 

  • New in ban: NALCO
  • Out of ban: NMDC, PNB, Chambal Fertilisers, IndiaMART
  • Already in ban: Birlasoft, Balrampur Chini, Hindustan Copper, Piramal Enterprises, GNFC, Aarti Industries, Sun TV, Granules India, AB Fashion, LIC Housing Finance, India Cements, Bandhan Bank, Manappuram Financial, SAIL, RBL Bank

Stock of the Day

Buy Cyient shares with a stop loss at Rs 1,900 for targets of Rs 1,955, Rs 1,975 and Rs 1,995

  • Cyient selling 14.5 per cent stake in Cyient DLM
  • Company to reduce debt using the proceeds but the stock already rose six per cent on Tuesday
  • Don’t chase if it makes a big gap-down opening

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