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

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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

Buy Amara Raja Energy & Mobility shares for targets of Rs 1,400, Rs 1,415 and Rs 1,435 with a stop loss at Rs 1,365 
  • 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
Buy Sansera Engineering shares for targets of Rs 1,300, Rs 1,310 and Rs 1,325 with a stop loss at Rs 1,260 
  • Manufacturing stocks looking very strong
  • Strong fundamentals at attractive valuations

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