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 shares his strategy for todays session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
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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