Anil Singhvi strategy April 25: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for todays session on Dalal Street. Check out 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 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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