Anil Singhvi Market Strategy June 21: 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 23,450-23,515 levels and a strong buy zone at 23,325-23,425 levels on Friday, June 21. For the Nifty Bank, he expects support to come in at 51,275-51,400 levels and a strong buy zone at 51,000-51,150 levels.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 57 per cent vs 54 per cent the previous day

• Nifty put-call ratio (PCR) at 1.29 vs 1.10

• Nifty Bank PCR at 1.24 vs 1.40

• Volatility index India VIX down three per cent at 13.35

He sees a higher zone for the headline index emerging at 23,625-23,675 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 51,850-51,950 levels and a blue-sky zone above 52,050.

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday and closing stop loss at 23,400

• Nifty Bank intraday and closing stop loss at 51,200

For existing short positions:

• Nifty intraday stop loss at 23,700 and closing stop loss at 23,625

• Nifty Bank intraday stop loss at 52,050 and closing stop loss at 51,800

For new positions in Nifty50: 

• The best range to buy Nifty is 23,425-23,525 with a stop loss at 23,300 for targets of 23,565, 23,600, 23,625 and 23,665; above 23,700, one may hold their long positions with a trailing stop loss 

• Aggressive traders can sell Nifty in the 23,625-23,700 range with a strict stop loss at 23,750 for targets of 23,575, 23,525, 23,475, 23,425 and 23,400

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 51,275-51,400 with a stop loss at 51,200 for targets of 51,500, 51,775, 51,850 and 51,950; above 52,050, one my hold their long positions with a trailing stop loss

• Aggressive traders can sell Nifty Bank only if it breaks below 51,200 with a strict stop loss at 51,500

Stocks in F&O ban

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

Stocks of the Day

Buy LTIMindtree futures with a stop loss at Rs 4,990 for targets of Rs 5,095 and Rs 5,150

Buy HCLTech futures with a stop loss at Rs 1,432 for targets of Rs 1,465 and Rs 1,470

Buy Mphasis futures with a stop loss at Rs 2,402 for targets of Rs 2,455 and Rs 2,470

• Accenture results good 
• Reduction in guidance less than expected
• Positive for Indian IT companies

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