Anil Singhvi Market Strategy July 1: 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.

Here is what Zee Business Managing Editor Anil Singhvi makes of the market today.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,865-23,975 levels and a strong buy zone at 23,725-23,800 levels on Monday, July 1.

For the Nifty Bank, he expects support to come in at 51,850-52,000 levels and a strong buy zone at 51,650-51,775 levels.

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

Global: Neutral
FII: Positive
DII: Positive
F&O: Neutral
Sentiment: Positive
Trend: Positive
FII long positions at 83 per cent vs 82 per cent the previous day
Nifty put-call ratio (PCR) at 1.17 vs 1.49
Nifty Bank PCR at 0.71 vs 0.97
Volatility index India VIX down 2.5 per cent at 13.80

He sees a higher zone for the headline index emerging at 24,075-24,175 levels followed by a "blue-sky zone" above 24,225.

For the banking index, he expects a higher zone at 52,600-52,750 levels and a strong sell zone at 52,800-52,975 levels.

Why is India the real World Champion?

India beat strong teams like Pakistan Afghanistan, Australia and England in T20 World Cup
India defeated South Africa, Bangladesh, NEpal and USA with difficulty
Rohit Sharma is the world's best cricket captain
Jasprit Bumrah's bowling is second to none across the globe
Strong batting skills by Rohit Sharma, Virat Kohli, Rishabh Pant and Suryakumar Yadav
Strong all-rounders Hardik Pandya, Axar Patel and Ravindra Jadeja in the middle order
Powerful coach Rahul Dravid

Cricket and Dalal Street

Strong work as a team | A portfolio must have stocks with strong fundamentals
Rohit Sharma's captaincy worked wonders | Picking the right stock at the right time is important, just like a good fund manager
Virat Kohli's strong performance matters even more in a big match | Even if stocks like Reliance don't work every day, they contribute handsomely to life highs in the market
30 runs in 30 balls is a rate that generally leads to a defeat | It is important to have faith in the upside in case of a big fall in a bull run
Suryakumar Yadav's unbelievably strange catch | It is important to stay alert in a weak and volatile market
Jasprit Bumrah's bold bowling | Discipline and consistency lead to wealth creation
Rahul Dravid's dependable coaching | One must learn from the experience of big market voices

EDITOR'S TAKE

Strong FII inflows on Friday despite weakness on Dalal Street
FIIs made net purchases of Rs 7,000 crore in stock and index futures
Domestic funds net bought shares worth Rs 6,650 crore in the cash market
Trading opportunities on both sides in Nifty and Nifty Bank
Buy at key support levels
Keep booking profits at higher levels
Market action has shifted from largecap stocks to midcap and smallcap stocks
Signs of good buying in cash market stocks
After consolidation, focus on midcap and smallcap stocks till the emergence of fresh peaks in the market
Very strong support for Nifty50 placed at 23,800-23,900 levels
Very strong support for Nifty Bank at 51,650-51,850 levels
Only one thing to be cautious about: FII positions extremely high at 83 per cent
Profit-taking expected near life highs

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday stop loss at 23,800 and closing stop loss at 23,850
Nifty Bank intraday stop loss at 51,950 and closing stop loss at 52,300

For existing short positions:

Nifty intraday stop loss at 24,225 and closing stop loss at 24,050
Nifty Bank intraday stop loss at 53,050 and closing stop loss at 52,900

For new positions in Nifty50:

The best range to buy Nifty is 23,800-23,900 with a stop loss at 23,650 for targets of 23,975, 24,000, 24,050, 24,085 and 24,175
Aggressive traders can sell Nifty in the 24,075-24,175 range with a strict stop loss at 24,225 for targets of 24,025, 24,000, 23,900, 23,870 and 23,800

For new positions in Nifty Bank:

The best range to buy Nifty Bank is 51,700-51,925 with a stop loss at 51,600 for targets of 52,000, 52,225, 52,350, 52,475, 52,600 and 52,725
Aggressive traders can sell Nifty Bank in the 52,600-52,800 range with a strict stop loss at 53,000 for targets of 52,375, 52,250, 52,025, 51,925, 51,850 and 51,775

Stocks in F&O ban