Anil Singhvi Market Strategy June 18: 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 23,350-23,400 levels and a strong buy zone at 23,250-23,325 levels on Tuesday, June 18, as Dalal Street returns to trade after a long weekend owing to the Bakra Eid holiday on Monday. 

For the Nifty Bank, he expects support to come in at 49,800-49,900 levels and a strong buy zone at 49,525-49,700 levels.

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

• Global: Positive

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 48 per cent vs 46 per cent the previous day

• Nifty put-call ratio (PCR) at 1.30 vs 1.20

• Nifty Bank PCR at 0.96 vs 0.82

• Volatility index India VIX down five per cent at 12.82

He sees a "blue-sky zone" zone for the headline index at 23,525 followed by the next big targets at 23,600 and 23,800.

For the banking index, he expects a higher zone at 50,175-50,250 and a profit-booking zone at 50,475-50,650 levels.

EDITOR’S TAKE 

• Very strong global signals
• Strong FII and DII inflows 
• Market very strong technically following lifetime highs on Friday
• Direct tax collection data strong
• Strong support for Nifty at 23,200-23,400, next big target at 23,800-24,000
• Next big target for Nifty Bank at 50,500-50,650
• Banking index ready to reach 51,000 straightaway after these targets
• Strong buying likely to continue in midcap & smallcap stocks
• One should continue with a 'buy on dips' strategy
• Strong action expected in banking, FMCG, defence, railway shares
• Weakness expected in metal stocks

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday and closing stop loss at 23,300

• Nifty Bank intraday and closing stop loss at 49,675

For existing short positions:

• Nifty intraday and closing stop loss at 23,525

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

For new positions in Nifty50: 

• Buy Nifty with a stop loss at 23,400 for targets of 23,525 and 23,600; next big target at 23,800

• Sell Nifty only if it breaks below 23,250

For new positions in Nifty Bank: 

• Buy Nifty Bank for targets of 50,100, 50,175, 50,225, 50,475 and 50,650 with a stop loss at 49,700 

• Sell Nifty Bank in the 50,475-50,650 range with a stop loss at 50,750 for targets of 50,250, 50,175, 50,100, 50,000 and 49,925

F&O ban update 

• New in ban: Balrampur Chini
• Already in ban: Hindustan Copper, GMR Airports, India Cements, SAIL, Sun TV
• Out of ban: None 

Stocks of the Day

Buy HAL futures with a stop loss at Rs 5,150 for targets of Rs 5,270, Rs 5,325 and Rs 5,390

• The company has received a proposal from the Defence Ministry for 156 light combat helicopters worth Rs 45,000 crore

Buy RVNL shares with a stop loss at Rs 386 for targets of Rs 395, Rs 399 and Rs 407

• Railway stocks looking very strong
• Declared L1 bidder from East Coast Railway for Rs 160-crore project

Sell Vedanta futures with a stop loss at Rs 454 for targets of Rs 441, Rs 435 and Rs 430

• Metals weak globally for a third consecutive day
• Copper and aluminium at a two-month low

Buy HBL Power shares with a stop loss at Rs 472 for targets of Rs 483, Rs 487 and Rs 495

• Prospects for stocks related to railway security system looking strong

ixigo listing: What should investors do?

• ixigo shares expected to list in the Rs 120-130 range vs their issue price of Rs 93
• We suggested applying for a good listing gain and for the long term
• Short-term Investors can keep a stop loss at Rs 110
• Long-term investors must hold
• Those who didn’t get allotment can buy only if the price comes in the Rs 100-110 range 

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