Anil Singhvi strategy August 21: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,200-19,250 levels and a strong buy zone at 18,975-19,025 levels on Monday, August 21. For the Nifty Bank, he expects support at 43,600-43,675 levels and stronger support at 43,350-43,500 levels.

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

• Global: Negative

• FII: Negative

• DII: Neutral

• F&O: Neutral

• Sentiment: Cautious

• Trend: Neutral

Singhvi sees a higher zone in the Nifty 19,365-19,425 levels and a strong sell zone at 19,465-19,535 levels. For the banking index, he sees a higher zone at 43,950-44,075 levels and a strong sell zone at 44,200-44,400 levels.

ANIL SINGHVI MARKET STRATEGY

Traders can expect pressure in the market at higher levels owing to weakness in global markets and foreign fund outflows, said Singhvi, who suggests trimming long positions if the Nifty and the Nifty Bank close below 19,300 and 43,600 levels respectively.

It is important for the Nifty and the Nifty bank to close above 19,550 and 44,200 respectively for weakness in the market to stop, he said.  

• FII index longs at 42 per cent vs 39 per cent the previous day

• Nifty put-call ratio (PCR) at 0.98 vs 1.06

• Nifty Bank PCR at 0.78 vs 0.80

• Fear index India VIX down one per cent at 12.14

For existing long positions:

• Nifty intraday stop loss at 19,200 and closing stop loss at 19,300

• Nifty Bank intraday and closing stop loss at 43,600

For existing short positions:

• Nifty intraday and closing stop loss at 19,550

• Nifty Bank intraday and closing stop loss at 44,225

For new positions in Nifty:

• The best range to sell Nifty is 19,425-19,465 with a stop loss at 19,550 for targets of 19,365, 19,325, 19,300, 19,265, 19,235 and 19,200

• For aggressive traders, the best range to buy Nifty is 19,200-19,265 with a strict stop loss at 19,150 for targets of 19,300, 19,325, 19,365, 19,425 and 19,465

For new positions in Nifty Bank:

• For aggressive traders, the best range to sell Nifty Bank is 44,000-44,200 with a strict stop loss at 44,425 for targets of 43,950, 43,900, 43,850, 43,775, 43,675 and 43,600

• For aggressive traders, the best range to buy Nifty Bank is 43,500-43,675 with a strict stop loss at 43,350 for targets of 43,750, 43,850, 43,900, 43,950, 44,000, 44,075 and 44,200

Stocks in F&O ban:

• New in ban: Manappuram Finance
• Already in ban: PNB, Hindustan Copper, SAIL, GNFC, Granules, Zee Entertainment, Indiabulls Housing Finance, Chambal Fertilisers, Delta Corp, India Cements
• Out of ban: None

Jio Financial Services listing preview:

• The stock is expected to list around Rs 300 
• Long-term Investors can hold
• Short-term investors can keep a stop loss at Rs 250 
• The company's net worth is at Rs 1.17 lakh crore
• The company's 6.1 per cent stake in Reliance is valued at Rs 1.05 lakh crore
• Its book value is at Rs 185

Positives:

• The company has plenty of capital
• There's a possibility of the company scaling up the business in a big way

Negatives:

• The company does not have significant business at present

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.