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. 

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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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