Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,535-19,570 levels and a strong buy zone at 19,435-19,465 levels on Thursday, August 10, the day the RBI announces the outcome of its bi-monthly policy review. For the Nifty Bank, he expects support at 44,525-44,625 levels and a strong buy zone at 44,275-44,450 levels.

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

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

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Singhvi sees a higher zone in the Nifty at 19,650-19,725 levels and a strong sell zone at 19,750-19,825 levels. For the banking index, he sees a higher zone at 44,975-45,125 levels and a strong sell zone at 45,175-45,350 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests trimming long positions if the Nifty and the Nifty Bank close below 19,375 and 44,500 respectively. He believes that closing levels above 19,700 and 45,000 will be a sign of strength. 

  • FII index longs at 45 per cent vs 47 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.18 vs 0.99
  • Nifty Bank PCR at 0.76 vs 0.86
  • Fear index India VIX down two per cent at 11.14

For existing long positions:

  • Nifty intraday and closing stop loss at 19,425
  • Nifty Bank intraday and closing stop loss at 44,500

For existing short positions:

  • Nifty intraday and closing stop loss at 19,700
  • Nifty Bank intraday and closing stop loss at 45,200

For new positions in Nifty:

  • The best range to buy Nifty is 19,435-19,535 with a stop loss at 19,375 for targets of 19,565, 19,600, 19,635, 19,700, 19,725, 19,750 and 19,775
  • The best range to sell Nifty is 19,635-19,725 with a stop loss at 19,800 for targets of 19,600, 19,565, 19,535, 19,500, 19,465, 19,435 and 19,385

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 44,525-44,725 range with a stop loss at 44,250 for targets of 44,825, 44,875, 44,925, 44,975, 45,075, 45,125, 45,175 and 45,300
  • The best range to sell Nifty Bank is 45,100-45,300 with a stop loss at 45,500 for targets of 44,775, 44,725, 44,625, 44,525, 44,450, 44,400 and 44,275

Stocks in F&O ban:

  • Out of ban: India Cements
  • Already in ban: Chambal Fertilisers, Delta Corp, Balrampur Chini, Indiabulls Housing Finance, Hindustan Copper
  • New in ban: None

Stock of the day: 

Buy PI Industries futures with a stop loss at Rs 3,850 for targets of Rs 3,950, Rs 3,985 and Rs 4,020

  • Strong performance on all parameters
  • Outlook better with a 20 per cent revenue growth target

Sell Granules futures with a stop loss at Rs 330 for targets of Rs 313 and Rs 310

  • Weak performance on all parameters
  • Don’t short on a big gap-down

Buy Abbott futures with a stop loss at Rs 23,800 for targets of Rs 24,400 and Rs 24,600

  • Operationally very strong results
  • Strong new launches in the pipeline

Result review:

Bharat Forge 

  • Company posted strong results
  • Stock gained eight per cent on Wednesday, more upside left
  • New businesses has started delivery; a big positive
  • Futures have support at Rs 955; higher levels at Rs 1,000 and Rs 1,020 

Bata 

  • Weak results on all parameters
  • Huge shorts created on Wednesday
  • Futures trading at a Rs 16 discount
  • Futures have support at Rs 1,650; higher levels at Rs 1,710 and Rs 1,720 

Tata Power 

  • Results in line with expectations
  • Not great, not bad

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