Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,300-19,350 levels and a strong buy zone at 19,200-19,235 levels on Friday, August 4. For the Nifty Bank, he expects support at 44,275-44,400 levels and a strong buy zone at 44,125-44,225 levels.

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

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

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Singhvi sees a higher zone in the Nifty coming in at 19,500-19,550 levels and a strong sell zone at 19,600-19,675 levels. For the banking index, he sees a higher zone at 44,725-44,875 levels and a profit-booking zone at 44,925-45,075 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests trimming long positions if the Nifty and the Nifty Bank close below 19,200 and 44,000 levels respectively. He is of the view the indices face strong resistance at 19,650-19,750 and 45,500-45,700 levels respectively. 

  • FII index longs at 40 per cent vs 49 per cent
  • Nifty put-call ratio (PCR) at 0.93 vs 0.75
  • Nifty Bank PCR at 0.71 vs 0.63
  • Fear index India VIX down one per cent at 11.19

For existing long positions:

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

For existing short positions:

  • Nifty intraday and closing stop loss at 19,550
  • Nifty Bank intraday and closing stop loss at 45,100

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,200 for targets of 19,425, 19,500, 19,525, 19,600, 19,650 and 19,675
  • Best range to buy is 19,235-19,325
  • Sell Nifty in the 19,500-19,600 range with a stop loss at 19,700 for targets of 19,425, 19,385, 19,350 and 19,300

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 44,000 for targets of 44,700, 44,825, 44,875, 44,925, 45,000 and 45,075
  • Best range to buy is 44,125-44,275
  • Sell Nifty Bank with a stop loss at 45,200 for targets of 44,825, 44,725, 44,600, 44,450, 44,400, 44,325 and 44,275
  • Best range to sell is 44,925-45,075

Stocks in F&O ban:

  • Out of ban: Indiabulls Housing Finance
  • Already in ban: GNFC, Hindustan Copper, Piramal Enterprises
  • New in ban: None

Stocks of the day: 

Sell Lupin futures on a gap-up opening in the Rs 1,060-1,080 range with a stop loss at Rs 1,100 for targets of Rs 1,040, Rs 1,000 and Rs 985

  • Don’t buy on strong results
  • Strong results due to milestone income of Rs 205 crore
  • Stock up 45 per cent in three months
  • Strong operational performance in price

Concord Biotech IPO preview

  • Apply for small listing gains and for the long term

Positives:

  • Experienced promoters
  • Big investors like Rakesh Jhunjhunwala group and impressive anchor book
  • Leadership position in select API products
  • Strong growth prospects
  • Impressive financial track record

Negatives:

  • Import from China and exports to the US a bit worrisome
  • Debtors and working capital very high
  • Valuations reasonable

Results review:

Eicher Motors futures

  • 4th consecutive quarter of highest revenue and profit
  • Impressive margin
  • Increase in competition a concern
  • Support near Rs 3,325; a higher level at Rs 3,450

Bharti Airtel futures

  • Strong operational performance
  • Support at Rs 855; a higher level at Rs 890

MGL futures

  • Strong operational performance
  • Profit better than estimates
  • Weak volumes a concern for margin
  • Support at Rs 1,080; a higher level at Rs 1,145

LIC Housing futures

  • Mixed results
  • Stock fell sharply five per cent on Thursday
  • Can expect short covering
  • Support at Rs 375; a higher level at Rs 405

Cummins futures

  • Strong operational performance
  • Wait for concall today for outlook
  • Support at Rs 1,800; a higher level at Rs 1,950

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