Anil Singhvi Market Strategy July 9: 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 24,175-24,250 levels and a strong buy zone at 24,050-24,150 levels on Tuesday, July 9. 

For the Nifty Bank, he expects support to come in at 52,000-52,175 levels and a strong buy zone at 51,650-51,850 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions unchanged at the previous day's level, still high at 84 per cent

• Nifty put-call ratio (PCR) at 1.18 vs 1.20

• Nifty Bank PCR at 0.70 vs 0.78

• India VIX up 7.1 per cent at 13.60

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 52,675-52,825 levels and a strong sell zone at 52,875-53,025 levels.

EDITOR’S TAKE | Very strong support for Nifty50 at 24,000-24,150, strong support for Nifty Bank at 51,850-52,000 

• Market has moved in a tight range for two days
• Nifty strong but Nifty Bank weak
• Traders will get ample opportunities on both sides
• Three straight days of close above 24,300 a positive sign
• Good domestic fund inflows but negligible FII inflows 
• FII sold stock and indices
• Very strong support for Nifty50 placed in the 24,000-24,150 range
• A higher range for Nifty50 at 24,400-24,500 levels
• Strong support for Nifty Bank at 51,850-52,000 
• A higher range for Nifty Bank at 52,800-53,000 levels
• Buying to continue in PSU, fertiliser, chemical, FMCG stocks
• Be selective in midcap & smallcap stocks

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday and closing stop loss at 24,150

• Nifty Bank intraday 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 24,125-24,250 with a stop loss at 24,000 for targets of 24,275, 24,300, 24,325, 24,350 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, 24,250, 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, 52,425, 52,500, 52,600 and 52,675, 52,750 and 52,825

• The best range to sell Nifty Bank is 52,725-52,875 with a stop loss at 53,050 for targets of 52,600, 52,500, 52,425, 52,375, 52,300, 52,250, 52,175 and 52,025

Stocks in F&O ban

• New in ban: Chambal Fertilisers & Chemicals, Indus Towers
• Already in ban: GNFC, Bandhan Bank, Piramal Enterprises, AB Fashion, Hindustan Copper, India Cements
• Out of ban: None

Stocks of the Day

Buy Affle India shares with a stop loss at Rs 1,345 for targets of Rs 1,395 and Rs 1,420

• Citi has initiated coverage with 'buy' rating, Rs 1,600 target 

Buy Emami shares with a stop loss at Rs 740 for targets of Rs 760, Rs 768 and Rs 782

• Citi has increased its target to Rs 900 from Rs 625
• Expect strong earnings growth

Buy Pitti Engineering shares with a stop loss at Rs 1,150 for targets of Rs 1,170, Rs 1,180 and Rs 1,190

• The company has come out with a QIP for the first time
• Strong response expected
• We gave strong buy call from the June 2, 2021 level of Rs 102 

Buy LT Foods shares with a stop loss at Rs 253 for targets of Rs 264, Rs 268 and Rs 275

• Government may relax rice export rules

Buy KRBL shares with a stop loss at Rs 303 for targets of Rs 313, Rs 319 and Rs 322

• Looking very attractive

Budget Stock Pick

• Duration: 12-18 months
• Proven track record of growth 
• Falling raw material prices of palm oil, sugar and flour to improve margins
• New products in the premium and gifting segments will drive growth
• Strong monsoon and government's higher rural focus to improve consumption
• Do SIP at every 7 per cent fall

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