Anil Singhvi strategy January 12: Important levels to track in Nifty50, Nifty Bank, TCS, Infosys today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,550-21,600 levels and a strong buy zone at 21,450-21,515 levels on Friday, January 12, a day after Tata Consultancy Services (TCS) and Infosys reported their Q3 results. For the Nifty Bank, he expects support at 47,150-47,250 levels and a strong buy zone at 46,925-47,025 levels.

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

• Global: Neutral

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 21,700-21,750 levels and a strong sell zone at 21,775-21,850 levels. For the banking index, he sees a higher zone emerging at 47,675-47,850 levels and a strong sell zone at 47,925-48,075 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs unchanged at 63 per cent as the previous day

• Nifty put-call ratio (PCR) at 1.14 vs 1.06

• Nifty Bank PCR at 0.84 vs 0.96

• Volatility index India VIX down 1.5 per cent at 12.77 

The market wizard expects the IT sector to lead gains on Dalal Street in Friday's session owing to good quarterly numbers from the IT firms, hence support from the Nifty Bank and Reliance is not needed as such. He points out the emergence of lighter FII outflows while buying by DIIs continues for a second straight day. 

Singhvi is of the view that a recovery in the US is important despite worsening inflation. He expects the Nifty50 to move within a range of 21,500-21,800, and big moves to only emerge beyond 21,450 or 21,850 levels on either side.

The last big support for the banking index exists at 46,900-47,200, according to Singhvi.

He suggests buying into the Nifty50 at key support levels and rapid profit-taking at higher levels. 

For existing long positions:

• Nifty intraday and closing stop loss at 21,500

• Nifty Bank intraday stop loss at 46,900 and closing stop loss at 47,200

For existing short positions:

• Nifty intraday and closing stop loss at 21,800
  Nifty Bank intraday stop loss at 47,750 and closing stop loss at 48,000

For new positions in Nifty:

• The best range to buy Nifty is 21,550-21,600 with a stop loss at 21,450 for targets of 21,650, 21,675, 21,725, 21,750, 21,775 and 21,800

• The best range to sell Nifty is 21,725-21,800 with a stop loss at 21,850 for targets of 21,675, 21,650, 21,625, 21,600, 21,550 and 21,500

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,025-47,250 with a stop loss at 46,900 for targets of 47,375, 47,450, 47,500, 47,650, 47,725, 47,850, 47,925 and 48,000

• The best range to sell Nifty is 47,725-47,925 with a stop loss at 48,075 for targets of 47,650, 47,500, 47,450, 47,375, 47,250, 47,150 and 47,025

F&O ban update

• New in ban: Polycab India, Delta Corp, BHEL

• Out of ban: Chambal Fertilisers, IEX, Balrampur Chini

• Already in ban: Zee Entertainment Enterprises, PVR, Indus Tower, Hindustan Copper, Bandhan Bank, Piramal Enterprises, India Cements, Escorts, NALCO, SAIL

Results reviews

The market wizard recommends buying Infosys futures with a stop loss at Rs 1,488 for targets of Rs 1,540 and Rs 1,555. He points out the following points about the IT major's quarterly performance: 

• Results met expectations after long
• Deal wins strong
• Good environment
• Stable commentary

What happened to Infosys futures on Thursday, when the contract jumped from the intraday low of Rs 1,494 to the intraday high of Rs 1,528 within two minutes? 

‼️आखिरी 2 मिनट में 2% भागा इंफोसिस 

क्या Result हो गए थे Leak #Q3FY24 #InfosysQ3FY24 #Infosys #StockMarketindia pic.twitter.com/y6h6BBfTmd

— CA Anil Singhvi Zee Business (@AnilSinghvi_) January 12, 2024

TCS

The market guru suggests buying TCS futures with a stop loss at Rs 3,710 for targets of Rs 3,780 and Rs 3,820. 

• Strong execution
• Impressive margin improvement
• Growth back on track
• Outlook positive

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