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. 

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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

Stocks of the Day

Buy PI Industries futures with a stop loss at Rs 3,755 for targets of Rs 3,840 and Rs 3,890

  • Small yet promising biologics acquisition
  • Deal at attractive valuations
  • Jefferies has a 'buy' rating, Rs 4,740 target  

Buy PB Fintech shares with a stop loss at Rs 1,330 for targets of Rs 1,360, Rs 1,375 and Rs 1,390

  • Strong growth prospects and margin improvement 
  • Citi has maintained 'buy' rating with Rs 1,600 target 

Dr Reddy’s 

  • Good acquisition at reasonable valuations
  • 10x EBITDA/sales
  • Financials to improve from FY26
  • Company needs to spend Rs 4,835 crore upfront
  • Short-term neutral to slight negative but long-term positive
  • Long-term Investors must buy in case of a big fall in the stock
  • Good entry range in futures at Rs 5,900-5,920

July F&O series Nifty Bank outlook

  • Banking index surged 4,370 points in June series
  • Rollover jumped 3.0 per cent to 70.70 per cent from
  • FII long positions high in Nifty Bank futures, at 67 per cent 
  • Generally, July series is positive for Nifty Bank
  • Nifty Bank finished July series higher in seven out of 10 years

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