Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,200-19,265 levels and a strong buy zone at 18,975-19,025 levels on Tuesday, August 29. For the Nifty Bank, he expects support at 44,200-44,350 levels and a strong buy zone at 43,850-44,000 levels.

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

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

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Singhvi sees a higher zone in the Nifty at 19,325-19,365 levels and a profit-booking zone at 19,400-19,465 levels. For the banking index, he sees a higher zone at 44,625-44,775 levels and a profit-booking zone at 44,825-45,000 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests adopting a 'buy on dips' strategy as long as the Nifty stays above 19,200 on a closing basis. He sees support for the market coming in on the monthly derivatives expiry day (due on August 31) following five weeks of declines. 

The Nifty Bank has been trying to gain strength for the past four sessions, amid positive signals from US bond yields, the dollar index and Wall Street, he points out. He advises traders to trim their long positions if the Nifty and the Nifty Bank close below 19,200 and 43,850 levels respectively.

Adani group stocks are likely to determine the mood on Dalal Street during the course of the day, he adds. 

  • FII index long positions at 43 per cent vs 40 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.99 vs 0.83
  • Nifty Bank PCR at 1.06 vs 0.81
  • Fear index India VIX up three per cent at 12.40

For existing long positions:

  • Nifty intraday and closing stop loss at 19,200
  • Nifty Bank intraday stop loss at 44,200 and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,465
  • Nifty Bank intraday stop loss at 45,000 and closing stop loss at 44,625

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,200 for targets of 19,325, 19,365, 19,400, 19,425, 19,465 and 19,500
  • The best range to sell Nifty is 19,400-19,465 with a stop loss at 19,565 for targets of 19,365, 19,325, 19,300, 19,265, 19,250 and 19,225

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 44,000-44,200 range with a stop loss at 43,850 for targets of 44,275, 44,350, 44,425, 44,500, 44,575 and 44,625
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 44,200 for targets of 44,625, 44,725, 44,775, 44,825, 44,875 and 44,950
  • The best range to sell Nifty Bank is 44,775-44,950 with a stop loss at 45,075 for targets of 44,725, 44,625, 44,500, 44,425, 44,350, 44,275 and 44,200

Stocks in F&O ban:

  • New in ban: Indiabulls Housing Finance
  • Already in ban: BHEL, Escorts, GMR Airports, Hindustan Copper, India Cements, Manappuram Finance, RBL Bank, Sun TV
  • Out of ban: None

Stock of the day: 

Buy Avenue Supermarts (DMart) shares with a stop loss at Rs 3,525 for targets of Rs 3,635, Rs 3,660 and Rs 3,690

  • UBS has upgraded the stock from 'sell' to 'buy' and raised its target price to Rs 4,700 from Rs 3,700 
  • Expect strong operational performance 

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