Anil Singhvi strategy April 26: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,425-22,500 levels and a strong buy zone at 22,325-22,400 levels for the headline Nifty50 index on Friday, April 26. For the Nifty Bank, he expects support to come in at 48,125-48,250 levels and a strong buy zone at 47,900-48,025 levels.

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

• Global: Negative 

• FII: Neutral

• DII: Positive   

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher level for the headline index at 22,600-22,675 levels and a strong sell zone at 22,700-22,775 levels. 

For the banking index, Singhvi expects a higher zone at 48,625-48,725 levels and a strong sell zone at 48,875-49,050 levels. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 39 per cent vs 31 per cent the previous day

• Nifty put-call ratio (PCR) at 1.28 vs 1.04

• Nifty Bank PCR at 1.16 vs 0.97

• Volatility index India VIX up 4.5 per cent at 10.73

Editor's take

• Global signals weak
• Strong buying by domestic funds
• Expiry adjustment in FII flow data
• Bajaj Finance and LTTS results weak
• Friday's closing to be a make-or-break moment; a positive closing may lead to life highs next week
• Strong support for Nifty50 at 22,300-22,400, for Nifty Bank at 47,900-48,075 
• closing levels above 22,500 in Nifty and 48,500 in Nifty Bank may lead to strong buying
• Be selective while buying midcap and smallcap stocks

What to expect in May F&O series 

• In eight out of last 10 years, May series has been positive (negative only in 2020 and 2022)
• Series begins with light rollovers, at 70 per cent vs 65 per cent a month ago
• FII index long positions at 39 per cent vs 45 per cent a month ago
• A positive bias expected in the first half of the series
• The second half to be impacted by election results

For existing long positions:

• Nifty intraday stop loss at 22,450 and closing stop loss at 22,300

• Nifty Bank intraday stop loss at 48,000 and closing stop loss at 47,725

For existing short positions:

• Nifty intraday and closing stop loss at 22,650
• Nifty Bank intraday and closing stop loss at 48,725

For new positions in Nifty:

• Buy Nifty in the 22,400-22,500 range with a stop loss at 22,300 for targets of 22,575, 22,625, 22,650, 22,675, 22,700 and 22,750

• Aggressive traders can sell Nifty in the 22,625-22,750 range with a strict stop loss at 22,800 for targets of 22,575, 22,500, 22,475, 22,450, 22,400 and 22,350

For new positions in Nifty Bank:

• Buy Nifty Bank in the 48,025-48,175 range with a stop loss at 47,900 for targets of 48,250, 48,300, 48,475, 48,625, 48,675 and 48,725

• Aggressive traders can sell Nifty Bank in the 48,725-48,875 range with a strict stop loss at 49,050 for targets of 48,625, 48,500, 48,300, 48,225, 48,150 and 48,075

F&O ban update

• New in ban: Vodafone Idea
• Out of ban: SAIL, AB Fashion, Hindustan Copper
• Already in ban: None

Results review 

Bajaj Finance 

Sell Bajaj Finance shares in the cash segment with a stop loss at Rs 7,365 for targets of Rs 7,100 and Rs 7,030

• Guidance weak 
• Fear of growth moderation

LTTS 

Sell LTTS shares in the cash segment with a stop loss at Rs 5,250 for targets of Rs 5,000, Rs 4,900 and Rs 4,880

• Results weak on all parameters
• Guidance cut
• Could be the "accident of the day"

IndusInd Bank

Sell IndusInd Bank shares in the spot market with a stop loss at Rs 1,525 for targets of Rs 1,480 and Rs 1,465

• Numbers look better than estimates but internal are weak
• Slippages and provisions increased. NIMs not improved

Tech Mahindra

Tech Mahindra shares have support at Rs 1,140 and Rs 1,165 levels in the cash segment, and higher levels at Rs 1,220 and Rs 1,245

• Numbers look bad but outlook better
• Buy if the stock makes a big gap-up opening

Stock Of The Day

Buy Himadri Chemicals shares in the cash segment with a stop loss at Rs 357 for targets of Rs 377, Rs 382 and Rs 388

• Strong operational performance

Buy Avas Financial shares in the spot market with a stop loss at Rs 1,580 for targets of Rs 1,635 and Rs 1,655

• Results strong 
• NIM at 7.91 per cent
• Disbursements up 39 per cent 

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