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

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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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