Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,700-24,800 levels and a strong buy zone at 24,575-24,650 levels on Monday, October 21. 

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For the Nifty Bank, he expects support at 51,700-51,900 levels and a stronger support zone at 51,475-51,575 levels.

Here's how the market guru sums up the trade setup this morning: 

  • Global: Positive
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII long positions at 34 per cent vs 33 per cent before the previous session
  • Nifty put-call ratio (PCR) at 0.93 vs 0.88
  • Nifty Bank PCR at 1.20 vs 0.73
  • Volatility index India VIX down 2.5 per cent at 13.04

The market wizard sees a higher zone for the headline index at 24,900-24,975 levels and a strong sell zone at 25,000-25,125 levels. 

For the banking index, he sees a higher zone at 52,275-52,425 levels and a profit-booking zone at 52,500-52,675 levels. 

MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 24,725
  • Nifty Bank intraday and closing stop loss at 51,700

For existing short positions:

Nifty intraday and closing stop loss at 25,050

Nifty Bank intraday and closing stop loss at 52,300

For new positions in Nifty50:

The best range to buy Nifty is 24,700-24,800 with a stop loss at 24,575 for targets of 24,850, 24,900, 24,950, 24,975, 25,000 and 25,050

The best range to sell Nifty is 24,925-25,025 with a stop loss at 25,150 for targets of 24,850, 24,800, 24,750, 24,725, 24,700 and 24,600

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 51,600-51,800 range with a strict stop loss at 51,450 for targets of 51,900, 52,025, 52,100, 52,175, 52,350, 52,425 and 52,500

Aggressive traders can sell Nifty Bank in the 52,350-52,500 range with a strict stop loss at 52,600 for targets of 52,200, 52,100, 52,025, 51,900, 51,800 and 51,700 

Stocks in F&O ban

  • New in ban: Aarti Industries, Birlasoft
  • Out of ban: RBL Bank, Manappuram Finance
  • Already in ban: L&T Finance, Bandhan Bank, IEX, NALCO, Tata Chemicals, Chambal Fertilisers, PNB, GNFC, Hindustan Copper, SAIL, Granules India, IDFC First Bank

RESULTS REVIEWS  

HDFC Bank 

  • Buy HDFC Bank futures with a stop loss at Rs 1,671 for targets of Rs 1,699, Rs 1,710 and Rs 1,725
  • Results stable, better than other banks
  • RoA highest in four quarters

Kotak Mahindra Bank 

  • Sell Kotak Mahindra Bank futures with a stop loss at Rs 1,892 for targets of Rs 1,835, Rs 1,824 and Rs 1,813
  • Results very weak
  • High slippages a big concern
  • Profit lowest in 12 quarters and deposit growth weakest in 7 quarters
  • Advance growth weakest in 12 quarters and NIM lowest in 10 quarters

RBL Bank 

Sell RBL Bank futures with a stop loss at Rs 209 for targets of Rs 195, Rs 185 and Rs 180

  • Results highly disappointing; everything is bad
  • Credit quality poor 
  • NIMs at a five-quarter low
  • All return ratios very weak
  • Came out of ban again today to fall again

Tech Mahindra 

Buy Tech Mahindra futures with a stop loss at Rs 1,670 for targets of Rs 1,715 and Rs 1,735

  • Results excellent 
  • Margins and deal wins strong 

Tata Consumer Products 

Sell Tata Consumer Products futures with a stop loss at Rs 1,110 for targets of Rs 1,072, Rs 1,065 and Rs 1,045

  • Operational results extremely weak 
  • India business performance poor  

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