Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,965-22,025 levels and a strong buy zone at 21,825-21,925 levels on Tuesday, January 16. 

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For the Nifty Bank, he expects support to come in at 47,850-48,000 levels and a strong buy zone at 47,650-47,775 levels.

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

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

Singhvi expects a blue-sky zone for the Nifty50 above the 22,150 mark. The market guru sees a higher zone for the banking index emerging at 48,250-48,350 levels and a profit-booking zone at 48,450-48,625 levels. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs unchanged at 66 per cent vs 63 per cent 
  • Nifty put-call ratio (PCR) higher at 1.52 vs 1.43
  • Nifty Bank PCR at 1.25 vs 1.07
  • Volatility index India VIX up five per cent at 13.79

The market wizard points out strong buying across the cash and futures segments by foreign institutional investors with some profit-taking by domestic funds on Monday. The Nifty50 has staged a strong breakout above 21,850 while the last bout of resistance for the banking index appears to be placed at 48,450-48,625, according to Singhvi.

Whether the Nifty Bank will scale a fresh lifetime high will be determined by HDFC Bank results during the course of the day, he says.

Singhvi recommends a 'buy on dips' strategy in the market with 21,925-22,025 and 47,725-47,850 being the perfect entry levels for the Nifty50 and the Nifty Bank, respectively. 

For existing long positions:

  • Nifty intraday stop loss at 22,000 and closing stop loss at 21,900
  • Nifty Bank intraday and closing stop loss at 48,000

For existing short positions:

  • Nifty intraday and closing stop loss at 22,150
  • Nifty Bank intraday and closing stop loss at 48,500

For new positions in Nifty:

  • The best range to buy Nifty is 21,925-22,025 with a stop loss at 21,850 for a target of 22,100; above 22,150, one can hold long positions and keep a trailing stop loss
  • Sell Nifty only if it closes below 21,875

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 47,725-47,850 with a stop loss at 47,650 for targets of 48,000, 48,075, 48,150, 48,250, 48,350, 48,450, 48,500 and 48,625
  • Aggressive traders can sell Nifty Bank in the 48,350-48,500 range with a strict stop loss at 48,650 for targets of 48,250, 48,150, 48,075, 48,000, 47,850 and 47,725

F&O ban update

  • New in ban: Biocon
  • Out of ban: NALCO
  • Already in ban: Metropolis, Chambal Fertilisers, Polycab India, Delta Corp, BHEL, Zee Entertainment Enterprises, PVR, Indus Tower, Hindustan Copper, Bandhan Bank, Piramal Ent, India Cements, Escorts, SAIL

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