Anil Singhvi Market Strategy June 25: 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 23,425-23,500 levels and a strong buy zone at 23,300-23,400 levels on Tuesday, June 25. For the Nifty Bank, he expects support to come in at 51,225-51,400 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: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 59 per cent vs 57 per cent the previous day

• Nifty put-call ratio (PCR) at 1.14 vs 1.04

• Nifty Bank PCR at 1.23 vs 1.05

• India VIX up 6.5 per cent at 14.06

He sees a higher zone for the headline index emerging at 23,565-23,665 levels and a "blue-sky zone" above the 23,700 mark.

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

EDITOR'S TAKE

• Mixed global signals 
• Strong buying by FIIs in stock and index futures
• India's CAD data positive
• Dalal Street in high spirits following Monday's recovery from lower levels
• Midcap & smallcap stock recovery very positive
• Market ready to register a new high before monthly F&O expiry
• Strong support for Nifty at 23,200-23,400 levels
• Strong support for Nifty Bank at 51,000-51,150 levels
• Positional buying opportunities in cement and telecom stocks
• Strong buying expected in sugar and coffee stocks

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday stop loss at 23,350 and closing stop loss at 23,450

• Nifty Bank intraday and closing stop loss at 51,350

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: 

• The best range to buy Nifty is 23,400-23,500 with a stop loss at 23,300 for targets of 23,535, 23,565, 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 23,625-23,675 range for targets of 23,575, 23,540, 23,500, 23,465, 23,440 and 23,400 with a strict stop loss at 23,725 

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 51,225-51,400 with a stop loss at 51,000 for targets of 51,500, 51,650, 51,700, 51,775, 51,825 and 51,950

• Aggressive traders can sell Nifty Bank in the 51,825-51,950 range with a strict stop loss at 52,050 for targets of 51,700, 51,650, 51,500, 51,400, 51,275 and 51,150

Stocks in F&O ban

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

Stocks of the Day

• The company has signed a technology agreement with a Chinese company for lithium-ion cells
• The stock is trading at an attractive discount in comparison to Exide

• Manufacturing stocks looking very strong
• Strong fundamentals at attractive valuations

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