Anil Singhvi Market Strategy July 22: Important levels to track in Nifty50, Nifty Bank today as India awaits Economic Survey
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.
![Anil Singhvi Market Strategy July 22: Important levels to track in Nifty50, Nifty Bank today as India awaits Economic Survey](https://cdn.zeebiz.com/sites/default/files/2024/07/22/305967-anil-singhvi-2.jpg?im=FitAndFill=(1200,900))
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,300-24,400 levels and a stronger support zone at 24,150-24,250 levels on Monday, July 22.
For the Nifty Bank, he expects support to come in at 51,850-52,000 levels followed by a stronger support zone at 51,650-51,750 levels.
Here's how Anil Singhvi sums up the market setup:
-
Global: Negative
-
FII: Positive
-
DII: Neutral
-
F&O: Neutral
-
Sentiment: Neutral
-
Trend: Positive
-
FII long positions at 79 per cent vs 81 per cent the previous day
-
Nifty put-call ratio (PCR) at 1.11 vs 1.40
-
Nifty Bank PCR at 0.76 vs 1.06
-
India VIX up two per cent at 14.83
He expects a higher zone for the headline index at 24,585-24,650 levels followed by a strong sell zone at 24,800-24,850 levels.
For the banking index, he expects a higher zone at 52,450-52,575 levels and a strong sell zone at 52,675-52,825 levels.
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
-
Nifty intraday and closing stop loss at 24,475
-
Nifty Bank intraday and closing stop loss at 52,000
For existing short positions:
-
Nifty intraday stop loss at 24,675 and closing stop loss at 24,800
-
Nifty Bank intraday stop loss at 52,825 and closing stop loss at 53,000
For new positions in Nifty50:
-
Sell Nifty with a stop loss at 24,675 for targets of 24,435, 24,400, 24,350, 24,300, 24,250, 24,200 and 24,150
-
The best range to buy Nifty is 24,150-24,300 with a stop loss at 24,100 for targets of 24,350, 24,400, 24,435, 24,500, 24,525 and 24,585
For new positions in Nifty Bank:
-
Aggressive traders can sell Nifty Bank in the 52,575-52,775 range with a strict stop loss at 53,000 for targets of 52,450, 52,325, 52,275, 52,175, 52,075, 52,000, 51,850 and 51,750
-
Aggressive traders can buy Nifty Bank in the 51,750-51,850 range with a strict stop loss at 51,650 for targets of 52,000, 52,075, 52,175, 52,275, 52,375 and 52,450
Stocks in F&O ban
- Already in ban: India Cements, HAL, SAIL, Bandhan Bank, Vedanta, Balrampur Chini, Piramal Enterprises, Hindustan Copper, GMR Airports, RBL Bank, GNFC
- New in ban: None
- Out of ban: None
Result Review
HDFC Bank
- Nothing great, nothing bad
- Asset quality deteriorates
- NIMs slightly better than estimates
- Futures have support at Rs 1,580 and higher levels at Rs 1,630 and Rs 1,645
Kotak Mahindra Bank
- Big profit due to exceptional gains
- Operationally weak results
- Impressive loan and deposit growth
- Asset quality deteriorates
- NIMs weaker than expectations
- Futures have support at Rs 1,775 and Rs 1,790; a sell zone at Rs 1,830-1,850 levels
RBL Bank
- Results better than estimates
- NIM strong but RoE still much lower
- Futures have support at Rs 232 and Rs 240; a higher level at Rs 262
JSW Steel
- Results weak on all fronts
- Worst operational performance
- Not a good indicator for the steel sector
- Futures have support at Rs 866 and Rs 872, and a sell zone at Rs 900-920
Stocks of the Day
Buy ICICI Lombard futures with a stop loss at Rs 1,867 for targets of Rs 1,900, Rs 1,915 and Rs 1,930
- Results strong on all parameters
Sell Reliance futures with a stop loss at Rs 3,140 for targets of Rs 3,050, Rs 3,020 and Rs 2,990
- Results disappointing on all fronts
Sell Wipro futures with a stop loss at Rs 566 for targets of Rs 534, Rs 523, Rs 520 and Rs 515
- Worst results in the entire IT sector
- Operational results weak
- Weak guidance and outlook
- ADR closed 11 per cent lower
Sell Can Fin Homes shares with a stop loss at Rs 861 for targets of Rs 835, Rs 830 and Rs 820
- Results below estimates
- NIMs declined, cost of borrowing up
Sell Indian Hotel futures with a stop loss at Rs 584 for targets of Rs 570, Rs 563 and Rs 550
- Mixed results, in line with estimates
- Nothing great, nothing bad
Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
07:40 AM IST