Anil Singhvi strategy July 20: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty headline index coming in at 19,700-19,750 levels and a strong buy zone at 19,565-19,600 levels on Thursday, July 20. For the Nifty Bank, he expects support at 45,300-45,450 levels and a strong buy zone at 45,075-45,225 levels.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a higher zone in the Nifty at 19,850-19,900 levels and a profit-booking zone at 19,950-20,000 levels. For the banking index, he sees a higher zone at 45,800-45,900 levels and a "blue sky zone" above 46,000. 

ANIL SINGHVI MARKET STRATEGY

20th July Strategy : आज की स्ट्रैटेजी #FirstTrade #MarketStrategy #TradingTips #Nifty #BankNifty

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— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 20, 2023

Singhvi recommends continuing with a 'buy on dips' strategy amid strong signals from global markets as well as foreign institutional investors. He points out that only closing levels below 19,300 and 44,600 in the Nifty and the Nifty Bank should be considered a sign of weakness respectively.

For existing long positions:

• Nifty intraday stop loss at 19,650 and closing stop loss at 19,550

• Nifty Bank intraday stop loss at 45,275 and closing stop loss at 45,000

For existing short positions:

• Nifty intraday and closing stop loss at 19,900

• Nifty Bank intraday stop loss at 46,000 and closing stop loss at 45,700

For new positions in Nifty:

• Buy Nifty in the 19,700-19,750 range with a stop loss at 19,650 for targets of 19,800, 19,825, 19,850 and 19,900

• A sell trigger in the Nifty will come only if it trades below 19,500

• Aggressive traders can sell Nifty near 20,000 as well

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,300-45,450 range with a stop loss at 45,000 for targets of 45,550, 45,650, 45,700, 45,800 and 45,900

• Aggressive traders can buy Nifty Bank with a strict stop loss at 45,250 for targets of 45,800, 45,900, 46,000; above 46,000, Nifty Bank in a blue sky zone

• Aggressive traders sell Nifty Bank in the 45,900-46,000 range with a stop loss at 46,100 for targets of 45,700, 45,650, 45,550, 45,450, 45,400, 45,350 and 45,300

Stocks in F&O ban:

• New in ban: Polycab, L&T Finance
• Already in ban: RBL Bank, Delta Corp, Manappuram Finance, Indiabulls Housing Finance
• Out of ban: None

Results review:

L&T Finance Holdings

• Strong results on all parameters
• Strong performance by the retail segment
• Improvement in asset quality
• Stock in F&O ban and already up 50 per cent in three months

Can Fin Home futures 

• NII and profit above estimates but asset quality deteriorates
• Stock up 47 per cent in three months
• Support near Rs 780, resistance near Rs 830

Tata Communications 

• Good results
• Strong data revenue growth of 17 per cent
• A slight miss on the margin front due to an increase in operational expenses
• In all three companies, conference calls today; more clarity will come afterwards

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