Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,525-21,575 levels and a strong buy zone at 21,400-21,465 levels on Tuesday, January 23. For the Nifty Bank, he expects support to come in at 45,650-45,725 levels and a strong buy zone at 45,425-45,550 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 21,650-21,725 and a strong sell zone at 21,750-21,850 levels. For the banking index, he expects a higher zone at 46,300-46,475 levels and a strong sell zone at 46,750-46,850 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market wizard expects ICICI Bank's good quarterly numbers to support the Nifty Bank, as the market opens amid three straight days of gains on Wall Street and a bounceback on Dalal Street owing to decreasing FII outflows. He believes traders have a host of buying opportunities for sharp upmoves in the midcap and smallcap segments. 

Singhvi points out light positions in the Nifty and Nifty Bank indices ahead of their monthly derivative expires due this week, and suggests profit-taking at the upper ends of the trading range. 

  • FII index longs at 46 per cent vs 47 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.86 vs 0.96
  • Nifty Bank PCR at 0.69 vs 0.59
  • Volatility index India VIX down 0.5 per cent at 13.80

For existing long positions:

  • Nifty intraday stop loss at 21,525 and closing stop loss at 21,450
  • Nifty Bank intraday stop loss at 45,500 and closing stop loss at 45,700

For existing short positions:

  • Nifty intraday and closing stop loss at 21,725
  • Nifty Bank intraday and closing stop loss at 46,250

For new positions in Nifty:

  • Buy Nifty with a stop loss at 21,525 for targets of 21,675, 21,725, 21,750, 21,775, 21,800 and 21,850
  • Aggressive traders can sell Nifty in the 21,725-21,850 range with a strict stop loss at 21,900 for targets of 21,675, 21,650, 21,625, 21,575 and 21,550

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank with a strict stop loss at 45,700 for targets of 46,175, 46,250, 46,375, 46,475, 46,750 and 46,850
  • Aggressive traders can sell Nifty Bank in the 46,750-46,850 range with a strict stop loss at 47,000 for targets of 46,500, 46,375, 46,300, 46,250, 46,175 and 46,075

F&O ban update

  • New in ban: IRCTC
  • Out of ban: Hindustan Copper
  • Already in ban: AB Fashion, Balrampur Chini, Delta Corp, IEX, NALCO, OFSS, Polycab India, RBL Bank, SAIL, Zee Entertainment Enterprises

RESULTS REVIEWS

ICICI Bank

Futures have support at Rs 970 and a higher level at Rs 1,030

  • Results better than expectations
  • Management confident of future growth
  • Strong balance sheet

Colgate-Palmolive

  • Stock has support at Rs 2,460 and a higher level at Rs 2,600
  • Strong results
  • 33.5% EBITDA margins at all time high
  • Volume growth -1% not very strong

IDFC First Bank

  • Results a mixed bag
  • NII and NIM above estimates
  • Guidance not very strong

Stocks of the day

Buy Cipla futures with a stop loss at Rs 1,288 for targets of Rs 1,330 and Rs 1,345

  • Results better than estimates on all parameters
  • Highest-ever sales in US business

Buy Tata Power futures with a stop loss at Rs 342 for targets of Rs 355 and Rs 360

  • PM announced one crore rooftop solar projects
  • Installation and commissioning of business of Tata Power to benefit

Medi Assist Health listing today

The market guru, who had advised high risk-taking investors to subscribe to the IPO for a horizon of 2-3 years and buy post-listing, expects the stock to list near the Rs 440-450 range.

He suggests investors keep a stop loss at the issue price of Rs 418.

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