Anil Singhvi Market Strategy June 20: 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 23,325-23,425 levels and a strong buy zone at 23,200-23,300 levels on Thursday, June 20. For the Nifty Bank, he expects support to come in at 51,000-51,150 levels and a strong buy zone at 50,575-50,775 levels.

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

• Global: Neutral

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 54 per cent vs 49 per cent the previous day

• Nifty put-call ratio (PCR) at 1.10 vs 1.26

• Nifty Bank PCR at 1.40 vs 1.22

• Volatility index India VIX up six per cent at 13.71

He sees a higher zone for the headline index emerging at 23,550-23,650 levels and a "blue-sky zone" above 23,700 with the next big targets at 23,800 and 24,000.

For the banking index, he expects a higher zone at 51,800-51,950 levels and a blue-sky zone above 52,050.

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday stop loss at 23,400 and closing stop loss at 23,250

• Nifty Bank intraday and closing stop loss at 51,000

For existing short positions:

• Nifty intraday stop loss at 23,700 and closing stop loss at 23,575

• Nifty Bank intraday stop loss at 52,050 and closing stop loss at 51,500

For new positions in Nifty50: 

• The best range to buy Nifty is 23,325-23,425 with a stop loss at 23,200 for targets of 23,465, 23,500, 23,550, 23,575 and 23,650

• Aggressive traders can sell Nifty in the 23,550-23,650 range with a strict stop loss at 23,700 for targets of 23,500, 23,465, 23,440, 23,415, 23,350 and 23,325

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 50,575-50,775 with a stop loss at 50,400 for targets of 50,950, 51,125, 51,375 and 51,475

• Aggressive traders can buy Nifty Bank in the 51,000-51,150 range with a strict stop loss at 50,900 for targets of 51,375, 51,475, 51,650, 51,800 and 51,950

• Sell Nifty Bank in the 51,800-51,950 range with a stop loss at 52,050 for targets of 51,525, 51,425, 51,150, 51,025, 50,800 and 50,675

F&O ban update 

• New in ban: Indus Towers, Chambal Fertilisers, HAL
• Out of ban: Sun TV, GNFC
• Already in ban: Piramal Enterprises, Balrampur Chini, Hindustan Copper, India Cements, SAIL

Stock of the Day

Buy Uno Minda shares with a stop loss at Rs 1,040 for targets of Rs 1,075, Rs 1,085 and Rs 1,100

• Auto ancillary stocks looking strong
• Goldman Sachs has initiated coverage with 'buy' rating, Rs 1,350 target

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