Anil Singhvi Market Strategy July 12: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,150-24,200 levels and a strong buy zone at 24,000-24,125 levels on Friday, July 12, a day after Tata Consultancy Services (TCS) kicked off a new earnings season for India Inc. 

For the Nifty Bank, he expects support to come in at 51,850-52,000 levels and a stronger support zone at 51,650-51,750 levels.

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

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 78 per cent vs 80 per cent the previous day

• Nifty put-call ratio (PCR) at 1.29 vs 0.97

• Nifty Bank PCR at 0.89 vs 0.79

• India VIX down three per cent at 14.00

He sees a higher zone for the headline index at 24,350-24,400 levels and a strong sell zone at 24,425-24,475 levels. 

For the banking index, he expects a higher zone at 52,500-52,650 levels and a strong sell zone at 52,700-52,875 levels.

ANIL SINGHVI MARKET STRATEGY   

For existing long positions:

• Nifty intraday stop loss at 24,125 and closing stop loss at 24,275

• Nifty Bank intraday and closing stop loss at 52,000

For existing short positions:

• Nifty intraday stop loss at 24,500 and closing stop loss at 24,450

• Nifty Bank intraday stop loss at 52,550 and closing stop loss at 52,675

For new positions in Nifty50: 

• The best range to buy Nifty is 24,075-24,200 with a stop loss at 24,000 for targets of 24,275, 24,300, 24,325, 24,360, 24,400 and 24,430

• Aggressive traders can sell Nifty in the 24,350-24,450 range with a strict stop loss at 24,525 for targets of 24,300, 24,275, 24,235, 24,200, 24,175 and 24,150

For new positions in Nifty Bank: 

• Aggressive traders can buy Nifty Bank in the 51,950-52,075 range with a strict stop loss at 51,750 for targets of 52,175, 52,250, 52,300, 52,375, 52,475, 52,575, 52,650 and 52,725

• Aggressive traders can sell Nifty Bank in the 52,575-52,725 range with a strict stop loss at 52,875 for targets of 52,500, 52,425, 52,300, 52,175, 52,075, 52,000, 51,850 and 51,775

Stocks in F&O ban

• Already in ban: RBL Bank, Balrampur Chini, IEX, Chambal Fertilisers, Indus Towers, GNFC, Bandhan Bank, Piramal Enterprises, AB Fashion, India Cements
• New in ban: None
• Out of ban: None

Results review 

Buy TCS futures with a stop loss at Rs 3,890 for targets of Rs 3,960, Rs 3,995 and Rs 4,040

• Very strong results on all parameters
• Strong growth in all business verticals

Stock of the Day

Buy LTIMindtree futures with a stop loss at Rs 5,380 for targets of Rs 5,485 and Rs 5,520

• Strong results from TCS are a positive trigger for IT stocks
• Expect good results from LTIMindtree 

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