Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,550-22,625 levels and a strong buy zone at 22,425-22,500 levels for the headline Nifty50 index on Tuesday, April 30. For the Nifty Bank, he expects support to come in at 48,900-49,050 levels and a strong buy zone at 48,500-48,675 levels.

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

  • Global: Positive
  • FII: Positive
  • DII: Positive  
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive

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He expects a higher level for the headline index at 22,700-22,775 levels and a "blue sky" zone above the 22,800 mark. 

For the banking index, Singhvi expects a blue sky zone above 49,575 and the next target at around 49,900-50,000 levels. 

ANIL SINGHVI MARKET STRATEGY  

  • FII index longs at 43 per cent vs 35 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.23 vs 0.96
  • Nifty Bank PCR higher, at 1.54 vs 0.85
  • Volatility index India VIX up 12 per cent at 12.24

Editor's take

  • Global markets strong for a second straight day
  • FIIs pause after selling spree, emerge buyers after five days of back-to-back selling
  • Strong moves expected on Dalal Street despite mild buying by FIIs and DIIs; generally, markets tend to jump on the slightest easing of outflow pressure
  • Strong support for Nifty50 at 22,400-22,500 levels, for Nifty Bank at 48,500-48,700 levels
  • One may buy midcap & smallcap firms posting good results

For existing long positions:

  • Nifty intraday stop loss at 22,500 and closing stop loss at 22,400
  • Nifty Bank intraday and closing stop loss at 48,900

For existing short positions:

  • Nifty intraday and closing stop loss at 22,800
  • Nifty Bank intraday and closing stop loss at 49,575

For new positions in Nifty:

  • Buy Nifty stop loss at 22,500 for targets of 22,675, 22,700, 22,750 and 22,775; above 22,800, one may hold their position with a trailing stop loss 
  • Sell Nifty only if it breaks below 22,400; aggressive traders can sell Nifty near 22,750-22,775 levels with a strict stop loss at 22,825

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 49,250 for a target of 49,500; above 49,575, Nifty Bank in a blue sky zone where one may hold their position with a trailing stop loss
  • Next logical target at 49,900-50,000 levels
  • Sell Nifty Bank only if it breaks below 48,900, with a strict stop loss at 49,100 

F&O ban update

  • New in ban: Biocon
  • Already in ban: Vodafone Idea
  • Out of ban: None

JNK India shares to enter the listed space today; here's what to expect: 

  • The IPO received a huge response, subscribed 28 times
  • A strong listing expected; debut expected at Rs 515-530 levels vs issue price of Rs 415
  • The market wizard advised applying for the IPO from a long-term perspective
  • Short-term investors can keep a stop loss at Rs 480 and hold

Stocks of the day

Sell Tata Chemicals futures with a stop loss at Rs 1,120 for targets of Rs 1,070 and Rs 1,055

  • Results very weak on all parameters
  • Margin down at 12.7 per cent from 22 per cent 
  • Management's outlook cautious 

Sell Birlasoft futures with a stop loss at Rs 689 for targets of Rs 669 and Rs 662 

  • Results slightly below estimates
  • Nomura has lowered its target from Rs 950 to Rs 850

Buy Can Fin Homes futures with a stop loss at Rs 735 for targets of Rs 760 and Rs 770

  • Results in line with expectations
  • Asset quality stable 
  • Stock may see some short covering
  • NIM improved

Buy Poonawalla Fincorp shares with a stop loss at Rs 480 for targets of Rs 500 and Rs 510

  • Results strong on all parameters
  • Profit up 83 per cent 
  • Asset quality improved

Buy Hindustan Copper futures with a stop loss at Rs 384 for targets of Rs 399, Rs 404 and Rs 408

  • Metals in a strong uptrend
  • LME copper up two per cent on Monday

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