Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,775-24,825 levels and a strong buy zone at 24,600-24,700 levels on Monday, August 26. 

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For the Nifty Bank, he expects support to come in at 50,700-50,850 levels and a buy zone at 50,375-50,525 levels.

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

  • Global: Positive
  • FII: Positive
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive
  • FII long positions flat at 52 per cent as the previous session
  • Nifty put-call ratio (PCR) at 1.27 vs 1.4
  • Nifty Bank PCR at 0.86 vs 0.94
  • Volatility index India VIX up 4.25 per cent at 13.55

The market wizard sees a higher zone at 24,900-24,975 levels and a profit-booking zone at 25,000-25,075 for the Nifty50. For the banking index, he sees a higher zone coming in at 51,175-51,350 levels and a profit-booking zone at 51,500-51,650 levels.

MARKET STRATEGY 

For existing long positions:

  • Nifty intraday and closing stop loss at 24,700
  • Nifty Bank intraday and closing stop loss at 50,700 

For existing short positions:

  • Nifty intraday and closing stop loss at 24,900
  • Nifty Bank intraday stop loss at 51,150 and closing stop loss at 51,000 

For new positions in Nifty50:

  • Buy Nifty with a stop loss at 24,700 for targets of 24,900, 24,950, 24,975, 25,000 and 25,075
  • Aggressive traders can sell Nifty in the 24,950-25,075 range with a strict stop loss at 25,125 for targets of 24,900, 24,870, 24,825, 24,800 and 24,775

For new positions in Nifty Bank: 

  • Buy Nifty Bank with a stop loss at 50,775 for targets of 51,100, 51,175, 51,250, 51,350, 51,500, 51,575 and 51,650
  • Aggressive traders can sell Nifty Bank in the 51,350-51,500 range with a strict stop loss at 51,650 for targets of 51,250, 51,175, 51,100, 51,025, 50,950 and 50,850
Stocks in F&O ban
  • New in ban: Balrampur Chini
  • Already in ban: Birlasoft, Hindustan Copper, GNFC, Aarti Industries, Sun TV, Granules India, AB Fashion, India Cements, NALCO, Chambal Fertilisers, IEX, RBL Bank
  • Out of ban: PEL, LIC Housing Finance

Stocks of the Day

Buy Ambuja Cements futures with a stop loss at Rs 622 for targets of Rs 640, Rs 649 and Rs 655

  • GQG bought 2.68 crore shares in a block deal on Friday

Sell Zydus futures with a stop loss at Rs 1,200 for targets of Rs 1,130 and Rs 1,120

  • Teva received approval for generic Asacol HD
  • Teva launched the product in the market and granted the company 180-day exclusivity
  • Product contributed $140-160 million of sales in FY24 and 25 per cent of EBITDA for Zydus
  • With the launch of Teva's generic, sales of the product are believed to fall by 40-50 per cent

Buy Vedanta futures with a stop loss at Rs 444 for targets of Rs 458 and Rs 464

  • Metals strong on rate cut expectations

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