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 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:

• Global: Negative
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Negative
• Trend: Positive
• FII long positions at 69 per cent vs 74 per cent the previous day
• Nifty put-call ratio (PCR) unchanged at 0.87
• Nifty Bank PCR at 0.83 vs 0.56
• 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:

• Nifty intraday and closing stop loss at 24,600
• Nifty Bank intraday and closing stop loss at 52,050

For new positions in Nifty50: 

• 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
• 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: 

• 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
• 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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