Anil Singhvi strategy August 1: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,650-19,700 levels and a strong buy zone at 19,565-19,600 levels on Tuesday, August 1. For the Nifty Bank, he expects support at 45,400-45,550 levels and a strong buy zone at 45,225-45,350 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi sees a higher zone in the Nifty coming in at 19,775-19,830 levels and a profit-booking zone at 19,850-19,885 levels. For the banking index, he sees a higher zone at 45,800-45,925 levels and a profit-booking zone at 46,075-46,175 levels.

ANIL SINGHVI MARKET STRATEGY

1st August Strategy: आज की स्ट्रैटेजी#FirstTrade #MarketStrategy #TradingTips #Nifty #BankNifty

Zee Business LIVE- https://t.co/iACkQI8qvG pic.twitter.com/fXXrBXpyGy

— CA Anil Singhvi Zee Business (@AnilSinghvi_) August 1, 2023

Singhvi points out that there are positive signals from global markets, and one can expect some profit booking at higher levels on Dalal Street owing to FII outflows. 

He sees consolidation in the Nifty emerging in the 19,500-20,000 range. He expects a support zone in the Nifty Bank at 45,200-45,400 levels and a higher range at 46,100-46,300 levels.

• FII index longs at 51 per cent vs 54 per cent the previous day

• Nifty put-call ratio (PCR) at 1.00 vs 0.82

• Nifty Bank PCR at 0.93 vs 0.74

• Fear index India VIX up three per cent at 10.41

For existing long positions:

• Nifty intraday and closing stop loss at 19,550

• Nifty Bank intraday stop loss at 45,200 and closing stop loss at 45,400

For existing short positions:

• Nifty intraday stop loss at 19,900 and closing stop loss at 19,850

• Nifty Bank intraday and closing stop loss at 46,000

For new positions in Nifty:

• Best buy levels in the Nifty in the 19,600-19,700 range with a  stop loss at 19,550 for targets of 19,775, 19,825, 19,850, 19,885 and 19,975

• Aggressive traders can sell Nifty in the 19,825-19,900 range with a strict stop loss at 20,000 for targets of 19,775, 19,750, 19,725, 19,700, 19,650 and 19,600

For new positions in Nifty Bank:

• Best buy levels in the Nifty Bank in the 45,350-45,475 range with a stop loss at 45,200 for targets of 45,725, 45,800, 45,850, 45,925, 46,000, 46,075 and 46,150

• Aggressive traders can sell Nifty Bank in the 45,800-45,925 range with a strict stop loss at 46,100 for targets of 45,725, 45,650, 45,575, 45,475, 45,415, 45,350 and 45,250

Stocks in F&O ban:

• New in ban: Piramal Enterprises

• Already in ban: Indiabulls Housing Finance

• Out of ban: None

Stocks of the day: 

Sell Maruti Suzuki futures with a stop loss at Rs 9,900 for targets of Rs 9,670, Rs 9,620 and Rs 9,550

• Profit and margin below estimate
• The company acquired Gujarat plant from Suzuki for Rs 12,700 crore
• Management maintains positive outlook

Buy Bandhan Bank futures with a stop loss at Rs 222 for targets of Rs 227, Rs 231 and Rs 233

• BofA-ML raised target price to Rs 300 from Rs 260
• Societe Generale bought 1.74 crore shares at Rs 218.6 apiece 

Results review:

PowerGrid

• Results below estimates on all parameters
• The stock has run up sharply ahead of results
• Power demand and bonus issue to give support at lower levels

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