Anil Singhvi Market Strategy June 27: 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 23,675-23,750 levels and a strong buy zone at 23,525-23,625 levels on Thursday, June 27, the last trading session of the June F&O series. 

For the Nifty Bank, he expects support to come in at 52,375-52,500 levels and a strong buy zone at 51,850-52,050 levels.

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

• Global: Neutral

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 67 per cent vs 61 per cent the previous day

• Nifty put-call ratio (PCR) at 1.31 vs 1.38

• Nifty Bank PCR at 1.06 vs 1.61

• Volatility index India VIX down two per cent at 14.05

He sees a higher zone for the headline index emerging at 23,900-23,975 levels and a "blue-sky zone" above 24,025 with the next big targets at 24,200 and 24,500. 

For the banking index, he expects a blue-sky zone above 53,050 with the next big targets at 53,500 and 54,000 levels. 

EDITOR'S TAKE

• Mixed global signals
• Strong dollar index posing mild pressure across Asia
• Buy in case of a weak opening
• Adopt 'buy on dips' strategy on F&O expiry day
• Buy as quickly and as much as the magnitude of the gap-down opening
• Nifty Bank might slow down after monthly F&O expiry
• Buying expected in IT, pharma and FMCG shares amid sectoral churning
• Midcap, smallcap stocks likely to see strong buying action

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

• Nifty intraday and closing stop loss at 23,650

• Nifty Bank intraday and closing stop loss at 52,350

For existing short positions:

• Nifty intraday stop loss at 24,000 and closing stop loss at 23,900

• Nifty Bank intraday and closing stop loss at 53,050

For new positions in Nifty50: 

• The best range to buy Nifty is 23,625-23,750 with a stop loss at 23,500 for targets of 23,800, 23,865, 23,890, 23,950 and 24,000

• Aggressive traders can sell Nifty with a strict stop loss at 24,025 for targets of 23,800, 23,750, 23,725, 23,675, 23,625 and 23,565

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 51,850-52,050 with a stop loss at 51,650 for targets of 52,350, 52,475, 52,600, 52,725, 52,875 and 52,975

• Aggressive traders can sell Nifty Bank with a strict stop loss at 53,050 for targets of 52,625, 52,500, 52,375, 52,050, 51,950 and 51,850

Stocks in F&O ban

• New in ban: India Cements
• Already in ban: PNB, SAIL, GNFC, Indus Towers
• Out of ban: None

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