Anil Singhvi Market Strategy July 4: 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 24,125-24,200 levels and a strong buy zone at 24,000-24,075 levels on Thursday, July 4. For the Nifty Bank, he expects support to come in at 52,800-52,975 levels and a strong buy zone at 52,600-52,750 levels.

Here's how Anil Singhvi sums up the market setup:

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 84 per cent vs 82 per cent the previous day

• Nifty put-call ratio (PCR) at 1.24 vs 1.15

• Nifty Bank PCR at 1.15 vs 0.75

• Volatility index India VIX down three per cent at 13.21

He sees a "blue-sky zone" emerging for the headline index above 24,325 with the next big target range of 24,450-24,600. 

For the banking index, he expects a higher zone at 53,175-53,250 levels and a blue-sky zone above 53,300 with the next big target near 53,500-54,000 levels. 

EDITOR'S TAKE | Nifty below 24,150 & Nifty Bank below 52,450 will be the first sign of weakness on Dalal Street, says market guru Anil Singhvi 

• Strong buying by FIIs in cash and futures segments
• Market at lifetime high, technically very strong
• Strong signals from global markets
• Weakness in dollar index
• Market is ready to scale fresh peaks
• Continue with 'buy on dips' strategy
• Midcap & smallcap stocks to see buying interest; use declines to buy
• PSU and metal stocks to see strong action

Three key things to be cautious about at higher levels

• FII index long positions extremely high at 84 per cent
• Some profit booking can emerge owing to Nifty weekly F&O expiry
• Crude oil at two-month high

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday stop loss at 24,150 and closing stop loss at 24,000

• Nifty Bank intraday stop loss at 52,800 and closing stop loss at 52,450

For existing short positions:

• Nifty intraday and closing stop loss at 24,325

• Nifty Bank intraday and closing stop loss at 53,300

For new positions in Nifty50: 

• The best range to buy Nifty is 24,125-24,200 with a stop loss at 23,975 for targets of 24,275 and 24,300; above 24,325 one may hold their long positions with a trailing stop loss

• The next big target is placed in the 24,450-24,600 range

• Sell Nifty with a strict stop loss at 24,325 only if it trades below 24,125 

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 52,600-52,800 with a strict stop loss at 52,450 for targets of 52,875, 52,975, 53,075, 53,175 and 53,250

• Sell Nifty Bank with a strict stop loss at 53,100 only if it trades below 52,800 

Stocks in F&O ban

• New in ban: Hindustan Copper
• Out of ban: Indus Towers
• Already in ban: India Cements

Stocks of the Day

Buy Bandhan Bank futures with a stop loss at Rs 207 for targets of Rs 216, Rs 219 and Rs 222

• Strong quarterly update

Buy NMDC futures with a stop loss at Rs 249 for targets of Rs 256, Rs 259 and Rs 263

• Metal, mining and iron ore stocks looking good
• Dollar index weak

'Cricket World Champion' Stock

Buy HUDCO shares for targets of Rs 375, Rs 450 and Rs 600

• The best stock to invest in to play the ‘Housing For All’ theme
• Loan book expected to grow double in four years
• Do SIP on every 10 per cent fall

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