Anil Singhvi Market Strategy June 13: 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 23,225-23,300 levels and a strong buy zone at 23,100-23,200 levels on Thursday, June 13.

For the Nifty Bank, he expects support to come in at 49,525-49,700 levels and a strong buy zone at 49,275-49,400 levels.

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

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 41 per cent vs 37 per cent the previous day

• Nifty put-call ratio (PCR) unchanged at 1.02

• Nifty Bank PCR at 0.92 vs 0.81

• India VIX down 2.5 per cent at 14.39

He sees a higher zone for the headline index at 23,425-23,500 levels and a "blue-sky zone" above 23,525 with the next targets and 23,600 and 23,800 levels.

For the banking index, he expects a higher zone at 50,075-50,225 levels and a profit-booking zone at 50,475-50,650 levels.

EDITOR’S TAKE 

• Signals from Fed policy review not great
• However, limited impact on Wall Street
• Domestic consumer inflation at one-year low
• Easing inflation and weak industrial output growth may lead RBI into thinking about rate cuts
• Mild buying by FIIs and DIIs
• Nifty very strong after registering intraday and closing highs
• Sentiment strong owing to strong buying interest in midcap and smallcap shares
• Buy at key support levels
• Book profit at resitance levels
• Buying expected to continue in cash stocks on Thursday

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday and closing stop loss at 23,175

• Nifty Bank intraday stop loss at 49,500 and closing stop loss at 49,275

For existing short positions:

• Nifty intraday stop loss at 23,525 and closing stop loss at 23,350

• Nifty Bank intraday stop loss at 50,250 and closing stop loss at 50,000

For new positions in Nifty50: 

• The best range to buy Nifty is 23,200-23,300 with a stop loss at 23,100 for targets of 23,390, 23,425 and 23,475; one may hold their positions above 23,525 with a trailing stop loss

• Aggressive traders can sell Nifty either near 23,500 or below 23,200 with a strict stop loss placed 100 points away 

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 49,625-49,800 wiht a stop loss at 49,500 for targets of 49,900, 49,975, 50,075, 50,225, 50,475 and 50,650

• Aggressive traders can sell Nifty Bank in the 50,475-50,650 range with a strict stop loss at 50,750 for targets of 50,250, 50,100, 50,025, 49,900, 49,800 and 49,700

F&O ban update 

• Already in ban: Hindustan Copper, GMR Airports, India Cements, Balrampur Chini, SAIL
• Out of ban: Zee Entertainment Enterprises 
• New in ban: None

Stocks of the Day

Buy Ambuja Cement futures with a stop loss at Rs 662 for targets of Rs 676, Rs 682 and Rs 690

• Ambuja looking for a big acquisition in the southern part of the country
• Stock in a strong uptrend

Buy Mankind Pharma shares with a stop loss at Rs 2,200 for targets of Rs 2,275, Rs 2,300 and Rs 2,345

• Pharma stocks in a strong uptrend
• Motilal Oswal Financial Services has assigned a strong target of Rs 2,650

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