Anil Singhvi Market Strategy August 8: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,050-24,175 levels and a strong buy zone at 23,900-24,000 levels on Thursday, August 8.
For the Nifty Bank, he expects support to come in at 49,650-49,775 levels followed by a stronger support zone at 49,350-49,500 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Negative
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Cautious
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Trend: Neutral
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FII long positions at 56 per cent vs 57 per cent the previous day
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Nifty put-call ratio (PCR) at 0.88 vs 0.71
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Nifty Bank PCR at 0.87 vs 0.57
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India VIX down 14 per cent at 16.17
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.
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
- Nifty intraday SL 24175 n Closing SL 23975
- Bank Nifty Intraday n Closing SL 49650
For existing short positions:
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Nifty Intraday n Closing SL 24400
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Bank Nifty Intraday SL 50300 n Closing SL 50750
For new positions in Nifty50:
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Aggressive Traders Buy Nifty in 24000-24175 range:
Strict SL 23875 Tgt 24300, 24335, 24375, 24400, 24425, 24475 -
Aggressive Traders Sell Nifty in 24300-24400 range:
Strict SL 24500 Tgt 24200, 24125, 24075, 24000, 23950, 23900
For new positions in Nifty Bank:
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Aggressive Traders Buy Bank Nifty in 49650-49800 range:
Strict SL 49500 Tgt 49975, 50100, 50275, 50425, 50550, 50675, 50750 -
Aggressive Traders Sell Bank Nifty in 50425-50675 range:
Strict SL 50800 Tgt 50300, 50125, 50000, 49800, 49725, 49650
Stocks in F&O ban
- New In Ban: AB Fashion
- Out Of Ban: Granules, Chambal Fertilizer
- Already In Ban: LIC Hsg Fin, Manappuram Fin, Hind Copper, AB Capital, IndiaMART, Birlasoft, RBL Bank, GNFC, India Cements
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08:55 AM IST