Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,300-24,425 levels and a stronger support zone at 24,075-24,200 levels on Monday, August 5. 

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For the Nifty Bank, he expects support to come in at 50,775-50,900 and 50,450-50,550 levels and a stronger support zone at 49,900-50,100 levels.

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

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Negative
  • Trend: Positive
  • FII long positions at 64 per cent vs 66 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.91 vs 1.04
  • Nifty Bank PCR at 0.78 vs 0.71
  • Volatility index India VIX up 11 per cent at 14.32

He sees a higher zone for the headline index coming in at 24,575-24,675 levels and at 51,075-51,250 levels for the banking index.

ANIL SINGHVI MARKET STRATEGY   

For existing long positions:

  • Nifty intraday stop loss at 24,500 and closing stop loss at 24,400
  • Nifty Bank intraday stop loss at 51,000 and closing stop loss at 50,875

For existing short positions:

  • Nifty intraday and closing stop loss at 24,850
  • Nifty Bank intraday and closing stop loss at 51,650

For new positions in Nifty50: 

  • Sell Nifty with a stop loss at 24,850 for targets of 24,500, 24,425, 24,350, 24,300, 24,240 and 24,200
  • Aggressive traders can buy Nifty in the 24,075-24,200 range only if it trades above 24,725; use a strict stop loss at 23,975 for targets of 24,300, 24,350, 24,400, 24,475, 24,575 and 24,650

For new positions in Nifty Bank: 

  • Sell Nifty Bank with a stop loss at 51,650 for targets of 51,025, 50,900, 50,775, 50,550, 50,450, 50,100, 50,000 and 49,900
  • Aggressive traders can buy Nifty Bank in the 49,900-50,100 range with a strict stop loss at 49,800 for targets of 50,425, 50,550, 50,775, 50,875 and 51,000

Stocks in F&O ban

  • New in ban: Chambal Fertilisers, AB Capital
  • Already in ban: IndiaMART, Birlasoft, RBL Bank, GNFC, Granules India, India Cements
  • Out of ban: None

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