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

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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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