Anil Singhvi strategy January 15: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees a strong buy zone for the headline Nifty50 index emerging at 21,775-21,850 levels on Monday, January 15. For the Nifty Bank, he expects support to come in at 47,525-47,650 levels and a strong buy zone at 47,250-47,400 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 blue-sky zone for the Nifty50 above 21,950. He expects the index to cross the 22,000 mark for the first time today. 

For the banking index, he sees a higher zone coming in at 47,925-48,075 levels and a strong sell zone at 48,150-48,350 levels.  

ANIL SINGHVI MARKET STRATEGY 

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

• Nifty put-call ratio (PCR) higher at 1.43 vs 1.14

• Nifty Bank PCR at 1.07 vs 0.84

• Volatility index India VIX up 2.5 per cent at 13.10

The market wizard expects strong buying in the IT space led by Wipro and HCL Tech on the back of strong results. He points out that the domestic funds have been net buyers on Dalal Street for a third straight day, whereas selling by foreign institutional investors has eased. 

Singhvi says that while the Nifty50 has staged a strong breakout above 21,850, the banking index has the last hurdle placed at 48,350-48,550 levels.

He expects HDFC Bank results, due on Tuesday, to dictate the movement of the Nifty Bank.

#EditorsTake : घरेलू फंड्स की खरीदारी कितनी तगड़ी?

बैंक निफ्टी के लिए क्या है आखिरी बाधा?

HDFC Bank के नतीजे तय करेंगे #banknifty की चाल?

देखिए @AnilSinghvi_ का ये वीडियो...#StockMarketNews #TradingView #AnilSinghvi pic.twitter.com/UCmDZgI5e1

— Zee Business (@ZeeBusiness) January 15, 2024

For existing long positions:

• Nifty intraday stop loss at 21,800 and closing stop loss at 21,700

• Nifty Bank intraday and closing stop loss at 47,400

For existing short positions:

• Nifty intraday and closing stop loss at 21,950

• Nifty Bank intraday and closing stop loss at 48,000

For new positions in Nifty:

• Buy Nifty with a stop loss at 21,775 for a target of 21950; above 21,950, one can hold long positions and keep a trailing stop loss

• No short advice until Nifty breaks below 21,700

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 47,400 for targets of 47,850, 48,000, 48,075, 48,150, 48,225 and 48,325

• Aggressive traders can sell Nifty Bank in the 48,150-48,350 range with a strict stop loss at 48,500 for targets of 48,075, 48,000, 47,925, 47,875 and 47,725

F&O ban update

• New in ban: Metropolis, Chambal Fertilisers

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

• Out of ban: None

Result Reviews

Wipro 

Singhvi suggests buying Wipro futures with a stop loss at Rs 460 for targets of Rs  499, Rs 505 and Rs 525

• Best IT sector performance so far
• Strong operational performance
• Healthy order book
• Management confident of recovery and future growth
• Wipro could be the best stock in IT leaders for this year

HCL Technologies

The market guru suggests buying HCL Tech futures with a stop loss at Rs 1,530 for targets of Rs 1,570, Rs 1,585, Rs 1,592 and Rs 1,640

• Results better than estimates on all parameters
• Strong deal pipeline
• Best growth and margins in this quarter among leading players
• Strong growth outlook for Q4

Stock of the day

Buy BHEL shares in the cash segment with a stop loss at Rs 194 for targets of Rs 200, Rs 204 and Rs 210

• Company received Rs 15,000 crore order from NLC India

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