Anil Singhvi Market Strategy July 25: After Budget, important levels to track in Nifty50, Nifty Bank today
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: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,150-24,300 levels and a stronger support zone at 24,000-24,100 levels on Thursday, July 25, days after the finance minister unveiled the Narendra Modi government's first Budget after returning to power for a third straight term.
For the Nifty Bank, he expects support to come in at 50,675-50,775 and 50,450-50,575 levels followed by a strong buy zone at 49,900-50,100 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Negative
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Negative
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Trend: Positive
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FII long positions at 69 per cent vs 74 per cent the previous day
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Nifty put-call ratio (PCR) unchanged at 0.87
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Nifty Bank PCR at 0.83 vs 0.56
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India VIX down 8 per cent at 11.76
He expects a higher zone for the headline index at 24,400-24,475 levels and a strong sell zone at 24,500-24,575 levels.
For the banking index, he expects a higher zone at 51,775-51,925 levels and a strong sell zone at 52,000-52,175 levels.
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 24,300
- Nifty Bank intraday stop loss at 51,000 and closing stop loss at 51,300
For existing short positions:
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Nifty intraday and closing stop loss at 24,600
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Nifty Bank intraday and closing stop loss at 52,050
For new positions in Nifty50:
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Sell Nifty stop loss at 24,600 for targets of 24,300, 24,250, 24,200, 24,175, 24,125, 24,075 and 24,000
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Aggressive traders can buy Nifty in the 24,075-24,150 range with a strict stop loss at 23,975 for targets of 24,200, 24,240, 24,280, 24,300, 24,325, 24,400 and 24,425
For new positions in Nifty Bank:
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Sell Nifty Bank with a stop loss at 51,550 for targets of 51,150, 51,000, 50,800, 50,675, 50,575 and 50,450
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Aggressive traders can buy Nifty Bank in the 50,450-50,575 range with a strict stop loss at 50,350 for targets of 50,775, 50,975, 51,150, 51,300, 51,475 and 51,775
Stocks in F&O ban
- New in ban: Vodafone Idea
- Out of ban: GNFC, SAIL
- Already in ban: India Cements
Stocks of the Day
Buy L&T futures with a stop loss at Rs 3,490 for targets of Rs 3,545 and Rs 3,565
- Results strong
- Good order inflow during election time
- Strong margins
Sell Axis Bank futures with a stop loss at Rs 1,255 for targets of Rs 1,210, Rs 1,180 and Rs 1,155
- Disaster results among all banks so far
- Axis Bank shorts may trigger a small recovery from lower levels
- Don’t sell if the stock makes a big gap-down opening
- 'Sell on rise' a better strategy
Sell JSPL futures with a stop loss at Rs 980 for targets of Rs 950, Rs 940 and Rs 925
- Results weak on all parameters
- Only problem is that the stock reacted wildly and differently to results
- Don’t short in case of a big gap-down opening
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08:53 AM IST