Anil Singhvi Market Strategy June 24: 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 23,300-23,400 levels and a strong buy zone at 23,175-23,275 levels on Monday, June 24. For the Nifty Bank, he expects support to come in at 51,225-51,400 levels and a stronger support zone at 51,000-51,150 levels.

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

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions unchanged at 57 per cent 

• Nifty PCR at 1.04 vs 1.29

• Nifty Bank PCR at 1.05 vs 1.24

• India VIX down 1.5 per cent at 13.18

He sees a higher zone for the headline index emerging at 23,500-23,550 levels and a strong sell zone at 23,625-23,665 levels.

For the banking index, he expects a higher zone at 51,825-51,950 levels and a "blue-sky zone" above 52,050.

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday stop loss at 23,375 and closing stop loss at 23,250

• Nifty intraday and closing stop loss at 51,200

For existing short positions:

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

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

For new positions in Nifty50: 

• Sell Nifty with a stop loss at 23,675 for targets of 23,440, 23,400, 23,350, 23,300, 23,325 and 23,265

• The best range to buy Nifty is 23,300-23,400 with a stop loss at 23,200 for targets of 23,440, 23,465, 23,500, 23,550, 23,575 and 23,625

For new positions in Nifty Bank: 

• Sell Nifty Bank with a stop loss at 52,000 for targets of 51,400, 51,275, 51,225, 51,150, 51,000 and 50,800

• Aggressive traders can buy Nifty Bank in the 51,000-51,150 range with a strict stop loss at 50,900 for targets of 51,275, 51,400, 51,500, 51,650, 51,775 and 51,850

Stocks in F&O ban

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

Stocks of the Day

Sell Coromandel futures with a stop loss at Rs 1,565 for targets of Rs 1,530, Rs 1,520 and Rs 1,510

• Profit booking expected in fertiliser stocks

Buy TBO Tech shares with a stop loss at Rs 1,570 for targets of Rs 1,610, Rs 1,625 and Rs 1,645

• Goldman has initiated coverage with 'buy' rating, Rs 1,970 target 

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