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. 

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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:

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Cautious
  • Trend: Neutral
  • FII long positions at 56 per cent vs 57 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.88 vs 0.71
  • Nifty Bank PCR at 0.87 vs 0.57
  • 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:

  • Nifty Intraday n Closing SL 24400
  • Bank Nifty Intraday SL 50300 n Closing SL 50750

     

For new positions in Nifty50: 

  • 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: 

  • 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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