Anil Singhvi strategy August 22: 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 19,325-19,365 levels and a stronger support zone at 19,250-19,300 levels on Tuesday, August 22. For the Nifty Bank, he expects support at 43,750-43,850 levels and a strong buy zone at 43,600-43,675 levels.

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

• Global: Negative

• FII: Negative

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

Singhvi sees a higher zone in the Nifty at 19,425-19,465 levels and a strong sell zone at 19,500-19,565 levels. For the banking index, he sees a higher zone at 44,125-44,200 levels and a strong sell zone at 44,400-44,525 levels.

ANIL SINGHVI MARKET STRATEGY

The market will offer trading opportunities on both sides amid easing pressure on account of 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 43 per cent vs 42 per cent the previous day

• Nifty put-call ratio (PCR) at 1.08 vs 0.98

• Nifty Bank PCR at 0.96 vs 0.78

• Fear index India VIX down 1.5 per cent at 11.96

For existing long positions:

• Nifty intraday stop loss at 19,250 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 19,465-19,535 with a stop loss at 19,600 for targets of 19,425, 19,400, 19,365, 19,325, 19,300 and 19,265

• The best range to buy Nifty is 19,250-19,325 with a stop loss at 19,200 for targets of 19,365, 19,400, 19,425, 19,465, 19,500 and 19,535

For new positions in Nifty Bank:

• For aggressive traders, the best range to sell Nifty Bank is 44,200-44,400 with a strict stop loss at 44,600 for targets of 44,125, 44,075, 44,000, 43,950, 43,900, 43,850, 43,775 and 43,675

• The best range to buy Nifty Bank is 43,675-43,850 with a stop loss at 43,600 for targets of 43,900, 43,950, 44,000, 44,075, 44,125, 44,200, 44,275 and 44,400

Stocks in F&O ban:

• New in ban: Metropolis

• Already in ban: Chambal Fertilisers, Delta Corp, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cement, Manappuram, PNB, SAIL, ZEEL

• Out of ban: Granules

Pyramid Technoplast IPO

Singhvi suggests avoiding the issue. Only high risk-taking investors may apply for it, he said. 

Positive

• Experienced and clean promoters
• Good financial track record
• Small size, small price IPO, can see some action post listing

Negative

• This sector never created wealth for investors
• Very small sized company
• Maintaining strong growth at a higher base will be a challenge

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