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 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

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