Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the headline Nifty index at 19,435-19,535 levels on Tuesday, August 8. For the Nifty Bank, he expects support at 44,525-44,625 levels and a strong buy zone at 44,275-44,400 levels.

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

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

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Singhvi sees a higher zone in the Nifty coming in at Nifty 19,650-19,725 levels and a strong sell zone at 19,750-19,825 levels. For the banking index, he sees a higher zone 45,000-45,125 and a strong sell zone at 45,175-45,350 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests trimming long positions if the Nifty and the Nifty Bank close below 19,375 and 44,500 respectively. He is of the view that closing levels above 19,775 and 45,000 will be a sign of strength. 

He recommends adopting a 'buy on dips' strategy on the Nifty. The movement of HDFC Bank will be important to track in Tuesday's session owing to an increase in its weight in the FTSE Emerging All Cap index.

  • FII index longs at 45 per cent vs 44 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.19 vs 1.04
  • Nifty Bank PCR at 0.75 vs 0.82
  • Fear index India VIX up five per cent at 11.10

For existing long positions:

  • Nifty intraday stop loss at 19,500 and closing stop loss at 19,375
  • Nifty Bank intraday and closing stop loss at 44,500

For existing short positions:

  • Nifty intraday and closing stop loss at 19,650
  • Nifty Bank intraday and closing stop loss at 45,200

For new positions in Nifty:

  • The best range to buy Nifty is 19,435-19,535 with a stop loss at 19,375 for targets of 19,650, 19,700, 19,725, 19,765, 19,800 and 19,825
  • Sell Nifty in the 19,700-19,800 range with a stop loss at 19,900 for targets of 19,650, 19,600, 19,565, 19,535, 19,500 and 19,435

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 44,525-44,625 range with a stop loss at 44,250 for targets of 44,725, 44,775, 44,825, 44,875, 44,925 and 45,000
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 44,500 for targets of 44,925, 45,000, 45,075, 45,125, 45,225, 45,300 and 45,350
  • Sell Nifty Bank in the 45,100-45,300 range with a stop loss at 45,500 for targets of 45,000, 44,925, 44,875, 44,825, 44,775, 44,725, 44,625 and 44,525

Stocks in F&O ban:

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

Stock of the day: 

Buy Gland Pharma shares with a stop loss at Rs 1,300 for targets of Rs 1,375, Rs 1,390, Rs 1,400 and Rs 1,425

  • Results better in all parameters
  • USA product pricing improving
  • Company set to launch new products
  • Oversold pharma stocks ready for a big upside

Results review:

Godrej Consumer

  • Results below estimates on all parameters
  • Indian business volume growth strong at 10 per cent
  • Futures have support at Rs 1,005 and Rs 1,020; a higher level at Rs 1,060 

Tata Chemicals

  • Results below estimates on all parameters
  • Soda ash volume down 9.3 per cent
  • Management commentary very negative
  • Slower growth in the Chinese economy a big concern
  • Futures have support at Rs 1,010; a higher level at Rs 1,070 

Torrent Pharma

  • Results as per expectations
  • Management commentary on the US business positive
  • Support at Rs 1,970 and Rs 2,100; a higher level at Rs 2,140 

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