Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 22,350-22,400 levels and a strong buy zone at 22,250-22,325 levels on Tuesday, May 7. For the Nifty Bank, he expects support to come in at 48,650-48,800 levels followed by a stronger support zone at 48,425-48,575 levels.

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

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

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He expects a higher zone for the headline index at 22,500-22,565 levels and a profit-booking zone at 22,600-22,650 levels. For the banking index, he expects a higher zone at 49,125-49,250 levels and a profit-booking zone at 49,400-49,600 levels.

ANIL SINGHVI MARKET STRATEGY  

  • FII index longs at 45 per cent vs 44 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.85 vs 0.89
  • Nifty Bank PCR at 0.66 vs 0.68
  • Volatility index India VIX up 13.5 per cent at 16.60

For existing long positions:

  • Nifty intraday and closing stop loss at 22,325
  • Nifty Bank intraday and closing stop loss at 48,650

For existing short positions:

  • Nifty intraday and closing stop loss at 22,600
  • Nifty Bank intraday and closing stop loss at 49,300

For new positions in Nifty:

  • The best range to buy Nifty is 22,325-22,400 with a stop loss at 22,250 for targets of 22,450, 22,500, 22,550, 22,570 and 22,600
  • Sell Nifty in the 22,575-22,650 range with a stop loss at 22,725 for targets of 22,500, 22,475,  22,450, 22,415, 22,375 and 22,350

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank in the 48,650-48,800 range with a strict stop loss at 48,475 for targets of 48,900, 48,975, 49,050, 49,125, 49,250 and 49,400
  • Aggressive traders can sell Nifty Bank in the 49,250-49,400 range with a strict stop loss at 49,625 for targets of 49,125, 49,050, 48,975, 48,925, 48,800 and 48,650

F&O ban update

  • New in ban: SAIL
  • Already in ban: Balrampur Chini, GMR Airports, AB Fashion, Vodafone Idea, Biocon
  • Out of ban: None

Results reviews

Godrej Consumer Products 

  • Buy Godrej Consumer Products futures with a stop loss at Rs 1,210 for targets of Rs 1,265 and Rs 1,280
  • Results much better than estimates
  • Volume growth strong at 12 per cent, best in sector
  • Loss due to exceptional item of Rs 2,375 crore
  • Operational performance very strong

Gujrat Gas 

  • Buy Gujrat Gas futures with a stop loss at Rs 542 for targets of Rs 558 and Rs 565
  • Results better than estimates
  • Operational performance strong 

Lupin 

  • Lupin futures have support at Rs 1,655 and Rs 1,637 and higher levels at Rs 1,715 and Rs 1,730
  • Operational performance strong 
  • Profit booking expected on a gap-up opening
  • Management confident of FY25

Stocks of the Day

Buy Marico futures with a stop loss at Rs 526 for targets of Rs 540, Rs 545 and Rs 552

  • Results came during market hours on Monday
  • Commentary very strong 

Buy HPCL futures with a stop loss at Rs 507 for targets of Rs 528, Rs 534 and Rs 540

  • Crude oil trading lower
  • BPCL and HPCL to consider bonus issues on May 9 

Buy Titagarh Wagons shares with a stop loss at Rs 1,020 for targets of Rs 1,060 and Rs 1,075

  • Morgan Stanley has initiated coverage with 'overweight' rating and Rs 1,285 target 
  • Railway stocks looking very strong

Buy Hindalco futures with a stop loss at Rs 637 for targets of Rs 654 and Rs 660

  • Strong performance by Novalis in Q4
  • Jefferies has raised target to Rs 810 from Rs 700, maintained 'buy' rating 

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