Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,325-22,425 levels and a stronger support zone at 22,175-22,300 levels for the headline Nifty50 index on Monday, April 15.

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For the Nifty Bank, he expects initial support to come in at 47,900-48,075 levels followed by a stronger support zone at 47,550-47,725 levels.

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

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

He expects a higher level for the headline index at 22,500-22,550 levels and a strong sell zone at 22,600-22,700 levels. 

For the banking index, Singhvi expects a higher zone at 48,475-48,575 levels and a strong sell zone at 48,625-48,875 levels. 

ANIL SINGHVI MARKET STRATEGY  

  • FII index longs at 56 per cent vs 59 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.87 vs 1.03
  • Nifty Bank PCR at 0.76 vs 1.07
  • Volatility index India VIX up four per cent at 11.53

Editor's take

  • Iran-Israel tensions not too much of a concern
  • Situation under control as of now
  • Low possibility of tensions rising
  • Crude oil to determine future moves

What should traders do?

  • Keep positions light 
  • High possibility of stop losses being triggered in case of wild swings
  • One can expect a 50-100-point upmove in the Nifty50 owing to news flow
  • One should reduce both intraday and overnight positions

What should investors do?

  • No need to fear or panic
  • So many such situations have come and gone

What to change in the portfolio?

  • Exit commodity consumers to enter commodity producers
  • Rise in commodity rates to benefit commodity producers
  • Firms like Hindustan Copper, Vedanta, NMDC, NALCO, Hindalco to benefit
  • Cement, cables & wires makers may take a hit
  • Negative for construction companies such as L&T 

For existing long positions:

  • Nifty intraday stop loss at 22,300 and closing stop loss at 22,425
  • Nifty Bank intraday and closing stop loss at 48,400

For existing short positions:

  • Nifty intraday and closing stop loss at 22,725
  • Nifty Bank intraday and closing stop loss at 48,900

For new positions in Nifty:

  • Sell Nifty with a stop loss at 22,725 for targets of 22,425, 22,375, 22,350, 22,325, 22,250 and 22,200
  • Aggressive traders can buy Nifty in the 22,200-22,350 range with a strict stop loss at 22,100 for targets of 22,425, 22,450, 22,500, 22,550 and 22,600

For new positions in Nifty Bank:

  • Sell Nifty Bank with a stop loss at 48,900 for targets of 48,425, 48,250, 48,075, 48,000, 47,900 and 47,725
  • Aggressive traders can buy Nifty Bank in the 47,550-47,725 range with a strict stop loss at 47,375 for targets of 47,825, 47,900, 47,975, 48,075, 48,250 and 48,425

F&O ban update

  • New in ban: GNFC, Metropolis, PEL
  • Already in ban: Balrampur Chini, Hindustan Copper, Vodafone Idea, India Cements, NALCO, ZEEL
  • Out of ban: Exide Industries, SAIL 

Results review

TCS 

  • Numbers a mixed bag
  • Margin strong, TVS positive
  • Revenue slightly below estimates
  • Decreasing headcount a negative
  • Management commentary stable
  • A higher start may lead to profit-taking
  • Futures have support at Rs 3,980, Rs 3,955 and Rs 3,915
  • Higher levels for futures at Rs 4,045, Rs 4,075 and Rs 4,110

Noteworthy things in BJP manifesto

  • Focus on transforming India into a manufacturing hub
  • Positive for defence, railway, aviation, textiles 
  • Promotes auto, EVs, semiconductors, electronics

Stocks of the day

Buy Exide futures with a stop loss at Rs 390 for targets of Rs 410 and Rs 418

  • Stock out of ban
  • 'Buy' rating by Morgan Stanley
  • Brokerage has raised target to Rs 485 from Rs 373

Sell Maruti Suzuki futures with a  stop loss at Rs 12,370 for targets of Rs 12,050, Rs 11,940 and Rs 11,800

  • Commodity consumers looking weak

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