Anil Singhvi strategy April 25: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,300-22,375 levels and a strong buy zone at 22,150-22,200 levels for the headline Nifty50 index on Thursday, April 25. For the Nifty Bank, he expects initial support to come in at 47,900-48,025 levels followed by a strong buy zone at 47,575-47,675 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 22,450-22,500 levels and a strong sell zone at 22,500-22,550 levels. 

For the banking index, Singhvi expects a higher zone at 48,250-48,325 levels and a strong sell zone at 48,425-48,575 levels. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 31 per cent vs 34 per cent the previous day

• Nifty put-call ratio (PCR) at 1.04 vs 1.06

• Nifty Bank PCR at 0.97 vs 0.90

• Volatility index India VIX up one per cent at 10.28

Editor's take

• Global signals weak 
• Institutional flows mixed; buying by domestic funds
• A big gap-down opening will offer opportunities to buy
• One may buy near key support levels and book profit at higher levels
• A fall below 22,300 for Nifty50 and 47,850 for Nifty Bank will be the first sign of weakness
• Those who have bought at lower levels can book profit in the range of 22,500-22,600 in Nifty50 and 48,500-48,700 in Nifty Bank
• Good opportunities in midcap and smallcap stocks

For existing long positions:

• Nifty intraday and closing stop loss at 22,300

• Nifty Bank intraday and closing stop loss at 47,850

For existing short positions:

• Nifty intraday and closing stop loss at 22,500
• Nifty Bank intraday and closing stop loss at 48,350

For new positions in Nifty:

• Sell Nifty with a stop loss at 22,500 for targets of 22,350, 22,325, 22,300, 22,250, 22,200 and 22,150

• Aggressive traders can buy Nifty in the 22,300-22,375 range strict stop loss at 22,150 for targets of 22,400, 22,450, 22,475, 22,500 and 22,550

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 48,350 for targets of 48,025, 47,925, 47,825, 47,675, 47,625 and 47,575

• Buy Nifty Bank in the 47,575-47,675 range with a stop loss at 47,450 for targets of 47,725, 47,775, 47,825, 47,900 and 47,975

• Aggressive traders can buy Nifty Bank in the 47,900-48,025 range with a strict stop loss at 47,800 for targets of 48,075, 48,175, 48,250, 48,300, 48,425 and 48,475

F&O ban update

• New in ban: SAIL, AB Fashion
• Out of ban: Vodafone Idea, ZEEL
• Already in ban: Hindustan Copper

Results reviews

HUL 

• Results in line with expectations; nothing great, nothing bad
• Futures have support at Rs 2,230 and a higher level at Rs 2,285

LTIMindtree 

• Results below estimates
• Stock has already fallen before results and may recover from lower levels
• Futures have support at Rs 4,650 and Rs 4,610, and a higher level at Rs 4,765

Indian Hotels Company 

• Sell futures near Rs 620 with a stop loss at Rs 630 for targets of Rs 592 and Rs 575
• Results mixed 
• Margin below estimates
• Management commentary very weak
• Stock should fall; one may book profit if it opens higher

AU Small Finance Bank 

• Results a mixed bag 
• NII and profit in line with expectations 
• Improvement in NPA
• NIM below estimate
• Futures have support at Rs 600 and a higher level at Rs 635

Oracle

• Sell Oracle futures with a stop loss at Rs 7,500 for targets of Rs 7,210, Rs 7,100 and Rs 6,960
• Results weak 
• Stock has already seen a big run-up

Stocks of the day

Buy Axis Bank futures with a stop loss at Rs 1,050 for targets of Rs 1,082, Rs 1,100 and Rs 1,120

• Highest ever RoA and RoE
• Solid deposit growth at 6.5 per cent
• Buy if opens flat or gap down

Sell Kotak Mahindra Bank futures with a stop loss at Rs 1,855 for targets of Rs 1,775, Rs 1,760 and Rs 1,745

• Strong action by RBI
• Bank stopped from issuing credit cards and opening new online accounts

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