Anil Singhvi Market Strategy July 16: 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 24,460-24,525 levels and a strong buy zone at 24,335-24,435 levels on Tuesday, July 16, as Dalal Street heads into a mid-week holiday the next day. For the Nifty Bank, he expects support to come in at 52,150-52,275 followed by a stronger support zone at 51,850-52,000 levels.

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

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 80 per cent vs 79 per cent the previous day

• Nifty put-call ratio (PCR) at 1.33 vs 1.28

• Nifty Bank PCR at 1.13 vs 0.86

• Volatility index India VIX up three per cent at 14.16

He sees a "blue-sky zone" for the headline index above the 24,650 mark. 

For the banking index, he expects a higher zone at 52,675-52,800 levels and a profit-booking zone at 52,875-53,025 levels.

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 51,950 and closing stop loss at 52,100

For existing short positions:

• Nifty intraday and closing stop loss at 24,650

• Nifty Bank intraday stop loss at 52,700 and closing stop loss at 52,900

For new positions in Nifty50: 

• The best range to buy Nifty is 24,435-24,525 for targets of 24,575, 24,600 and 24,625 with a stop loss at 24,300; above 24,650, one may hold their long positions with a trailing stop loss

• Aggressive traders can sell Nifty with a strict stop loss at day high only if it trades below 24,475 

For new positions in Nifty Bank: 

• Aggressive traders can buy Nifty Bank in the 52,075-52,275 range with a strict stop loss at 51,950 for targets of 52,425, 52,500, 52,575, 52,650, 52,775 and 52,875

• Aggressive traders can sell Nifty Bank in the 52,775-52,975 range with a strict stop loss at 53,100 for targets of 52,675, 52,575, 52,500, 52,425, 52,300 and 52,175

Stocks in F&O ban

• New in ban: Hindustan Copper
• Out of ban: Balrampur Chini, IEX, Bandhan Bank, Piramal Enterprises
• Already in ban: GMR Airports, RBL Bank, Chambal Fertilisers, AB Fashion, Indus Towers, GNFC, India Cements

Stocks of the Day

Buy Vedanta futures at Monday’s closing price of Rs 464

• Add more near Rs 455 and Rs 445 in case the stock falls
• Target at Rs 468, Rs 478 and Rs 490
• The company has announced an Rs 8,500-crore QIP at the floor price of Rs 461.26/share

Buy Neuland Labs shares with a stop loss at Rs 8,200 for targets of Rs 8,380, Rs 8,450 and Rs 8,600

• Goldman Sachs has maintained 'buy' rating, raised target to Rs 10,200 from Rs 9,100

Buy Bharti Hexacom shares with a stop loss at Rs 1,050 for targets of Rs 1,080 and Rs 1,090

• Telecom stocks looking very strong
• JP Morgan has initiated coverage with 'buy' rating, Rs 1,280 target 

Buy Vodafone Idea futures with a stop loss at Rs 16.5 for targets of Rs 17, Rs 17.25 and Rs 17.50

• CJI has agreed to consider the company's listing plea to correct computational errors in AGR dues 

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