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

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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 

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.