Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,175-24,235 levels and a strong buy zone at 24,050-24,150 levels on Monday, July 8. 

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For the Nifty Bank, he expects support to come in at 52,175-52,300 levels and a stronger support zone at 51,850-52,000 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 unchanged at 84 per cent vs Friday
  • Nifty put-call ratio (PCR) at 1.20 vs 1.27
  • Nifty Bank PCR at 0.78 vs 1.12
  • India VIX down one per cent at 12.70

He sees a higher zone for the headline index at 24,360-24,400 levels and a "blue-sky zone" above 24,425. 

For the banking index, he expects a higher zone at 52,800-52,975 levels and a strong sell zone at 53,025-53,175 levels.

What to do till Budget?

  • No sign of a big fall till Budget
  • Expect Budget to be good for the market
  • Keep buying on dips till Budget
  • Buy in cash segment stocks

Where to expect buying till Budget?

  • Rural and housing stocks to be in focus
  • Buy in FMCG, IT, telecom, chemical, fertiliser stocks

EDITOR’S TAKE 

  • Strong global signals
  • Mixed FII data; slightly positive
  • Nifty50 scaled a record closing high on Friday; technically very strong
  • Buy on dips to key support levels
  • Very strong support for Nifty50 at 24,000-24,150 levels
  • Buying to gather steam once Nifty holds 24,500
  • Buying in Nifty Bank not exciting yet
  • Nifty50 suitable for buying, Nifty Bank for selling for now
  • IndusInd, BoB, AU Small Finance Bank Q1 updates weak
  • IT, FMCG, pharma stocks to remain strong
  • Midcap & smallcap stocks to clock strong gains

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 52,250 and closing stop loss at 52,150

For existing short positions:

  • Nifty intraday stop loss at 24,425 and closing stop loss at 24,325
  • Nifty Bank intraday stop loss at 52,825 and closing stop loss at 53,125

For new positions in Nifty50: 

  • The best range to buy Nifty is 24,075-24,200 with a stop loss at 23,950 for targets of 24,235, 24,275, 24,300, 24,325, 24,360 and 24,400
  • Aggressive traders can sell Nifty in the 24,400-24,500 range with a strict stop loss at 24,550 for targets of 24,365, 24,325, 24,300, 24,235, 24,200 and 24,175

For new positions in Nifty Bank: 

  • Aggressive traders can buy Nifty Bank in the 52,000-52,175 range with a strict stop loss at 51,800 for targets of 52,300, 52,375, 52,475, 52,600, 52,675 and 52,750
  • The best range to sell Nifty Bank is 52,800-52,975 with a stop loss at 53,150 for targets of 52,675, 52,600, 52,500, 52,375, 52,300, 52,250, 52,175 and 52,025

Stocks in F&O ban

  • New in ban: GNFC
  • Already in ban: Bandhan Bank, Piramal Enterprises, AB Fashion, Hindustan Copper, India Cements
  • Out of ban: None

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