Anil Singhvi strategy August 9: 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 19,500-19,535 and a strong buy zone at 19,385-19,435 levels on Wednesday, August 9. For the Nifty Bank, he expects support at 44,725-44,825 levels and a strong buy zone at 44,525-44,625 levels.

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

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

Singhvi sees a higher zone in the Nifty at 19,625-19,675 levels and a strong sell zone at 19,700-19,775 levels. For the banking index, he sees a higher zone 45,075-45,225 levels and a strong sell zone at 45,300-45,475 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 believes trade opportunities will be available on either side and that closing levels above 19,650 and 45,000 will be a sign of strength. 

• 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

How the Moody's move to downgrade several US banks may impact the market

• Downgrades in banks are natural following Fitch's move to lower US rating
• Moody's maintains 'AAA' rating on the US
• A US downgrade by Moody's will be a big problem

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 19,600, 19,625, 19,650, 19,700, 19,725 and 19,750
• Aggressive traders can sell Nifty in the 19,635-19,725 range with a strict stop loss at 19,800 for targets of 19,600, 19,565, 19,535, 19,500, 19,435 and 19,385

For new positions in Nifty Bank:

• Buy Nifty Bank in the 44,525-44,625 in range with a stop loss at 44,250 for targets of 44,725, 44,775, 44,825, 44,875, 44,925 and 44,975
• Aggressive traders can buy Nifty Bank with a strict stop loss at 44,700 for targets of 45,075, 45,125, 45,175, 45,225, 45,300 and 45,350
• Aggressive traders can sell Nifty Bank in the 45,100-45,300 range with a strict 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: Chambal Fertilisers, Delta Corp
• Out of ban: GNFC, Piramal Enterprises
• Already in ban: Balrampur Chini, India Cements, Indiabulls Housing Finance, Hindustan Copper

Stock of the day: 

Buy Coal India futures with a stop loss at Rs 224 for targets of Rs 232, Rs 234 and Rs 237

• Results better than estimates on all parameters
• Coal prices started going up after a sharp fall
• Improved volumes and lower cost to benefit in future

Results review:

Siemens

• Results as per expectations
• Support for futures at Rs 3,720; a higher level at Rs 3,860 

Aarti Industries 

• Extremely weak results on all parameters
• Chemical stocks recovering despite weak results
• Don’t short at lower levels
• Support for futures at Rs 458; a higher level at Rs 487 

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