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 Wednesday, August 23. 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: Neutral
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral

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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

Traders may buy in parts in case the domestic market makes a gap-down start to the day or opens at support levels amid weakness on Wall Street though the pressure on account of FII outflows has eased somewhat, said Singhvi. 

He 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 added. 

  • FII index long positions unchanged at 43 per cent compared with the previous day
  • Nifty put-call ratio (PCR) at 0.92 vs 1.08
  • Nifty Bank PCR at 0.83 vs 0.96
  • Fear index India VIX down two per cent at 11.75

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 19465-19535 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, 19,445, 19,465 and 19,500

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 strict stop loss at 43,600 for targets of 43,900, 43,950, 44,000, 44,075, 44,125 and 44,200

Stocks in F&O ban:

  • New in ban: BHEL, Escorts
  • Already in ban: Metropolis, Delta Corp, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, PNB, SAIL, ZEEL
  • Out of ban: Chambal Fertilisers

TVS Supply Chain listing preview:

  • Expected to list near the issue price of Rs 197
  • Long-term Investors can accumulate at lower levels  

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