Anil Singhvi Market Strategy November 18: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about 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 23,300-23,400 levels and a strong buy zone at 23,000-23,200 levels on Monday, November 18, when the market is set to resume trading after a long weekend owing to the Guru Nanak Jayanti holiday on November 15.
For the Nifty Bank, he expects support at 49,750-49,900 levels and a stronger support zone at 49,425-49,650 levels.
Here's how the market guru sums up the trade setup this morning:
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Global: Negative
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Negative
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Trend: Negative
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FII long positions at 23 per cent vs 22 per cent before the last session
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Nifty put-call ratio (PCR) at 0.88 vs 0.70
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Nifty Bank PCR at 0.95 vs 1.12
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Volatility index India VIX down 4 per cent at 14.78
The market wizard sees a higher zone for the headline index at 23,575-23,675 levels and a strong sell zone at 23,750-23,875 levels.
For the banking index, he sees a higher zone at 50,575-50,800 levels and a strong sell zone at 51,000-51,175 levels.
MARKET STRATEGY
For existing long positions:
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Nifty intraday and closing stop loss at 23,450
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Nifty Bank intraday and closing stop loss at 49,900
For existing short positions:
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Nifty intraday and closing stop loss at 23,700
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Nifty Bank intraday and closing stop loss at 50,600
For new positions in Nifty50:
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The best range to sell Nifty is 23,675-23,775 with a stop loss at 23,900 for targets of 23,625, 23,550, 23,500, 23,400, 23,350 and 23,300
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Aggressive traders buy Nifty in the 23,100-23,300 range with a strict stop loss at 22,900 for targets of 23,475, 23,500, 23,550, 23,600, 23,675 and 23,750
For new positions in Nifty Bank:
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Aggressive traders can sell Nifty Bank in the 50,800-51,000 range with a strict stop loss at 51,200 for targets of 50,575, 50,375, 50,200, 50,100, 50,000, 49,950 and 49,750
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Aggressive traders can buy Nifty Bank in the 49,650-49,750 range with a strict stop loss at 49,500 for targets of 49,900, 50,000, 50,075, 50,175, 50,375 and 50,550
Stocks in F&O ban
- Out of ban: Aarti Industries
- Already in ban: GNFC, Hindustan Copper, AB Fashion, Granules India
- New in ban: None
Result Reviews
Hero MotoCorp
- Revenue and profit better than estimates
- Operational performance in line with expectations
- The stock has fallen 16 per cent in one month
- If the stock makes a weak start to the day, buy futures for targets of Rs 4,700 and Rs 4,750 with a stop loss at Rs 4,550
Grasim
- Results below estimates
- Operational performance weak
- Sell Grasim futures with a stop loss at Rs 2,590 for targets of Rs 2,500, Rs 2,470 and Rs 2,445
Glenmark Pharma
- Results slightly better than estimates
- The stock has fallen 15 per cent in one month
- IF the stock opens lower, buy futures for targets of Rs 1,555, Rs 1,570 and Rs 1,600 with a stop loss at Rs 1,520
Muthoot Finance
- Results slightly above estimates
- Highest-ever loan AUM
- NIM impressive at 11.54 per cent
- Buy Muthoot Finance futures for targets of Rs 1,795, Rs 1,820 and Rs 1,850 with a stop loss at Rs 1,750
Stocks of the Day
Sell MGL futures with a stop loss at Rs 1,345 for targets of Rs 1,260, Rs 1,230, Rs 1,210 and Rs 1,180
- Gas allocation reduced by 18 per cent
Sell IGL futures with a stop loss at Rs 414 for targets of Rs 385, Rs 372 and Rs 355
- Gas allocation reduced by 20 per cent
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