Anil Singhvi strategy July 26: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,600-19,650 levels and a strong buy zone at 19,500-19,565 levels on Wednesday, July 26. For the Nifty Bank, he expects support at 45,500-45,625 levels and a strong buy zone at 45,300-45,450 levels.

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

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi sees a higher zone in the Nifty coming in at 19,725-19,775 levels and a profit-booking zone at 19,815-19,875 levels. For the banking index, he sees a higher zone at 46,075-46,175 levels and a strong sell zone at 46,250-46,375 levels.

ANIL SINGHVI MARKET STRATEGY

26th July Strategy: आज की स्ट्रैटेजी #FirstTrade #MarketStrategy #TradingTips #Nifty #BankNifty

Zee Business https://t.co/kInoyDJFMq pic.twitter.com/zLeBRh9yd2

— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 26, 2023

Singhvi expects excitement in the market owing to positive moves in global equities, foreign institutional inflows and strong domestic results, though he believes some profit-booking may occur on account of a key Fed rate decision later on Wednesday and the monthly derivative expiry on Dalal Street the next day. 

He expects thinner trade on Wednesday ahead of a significant session on Thursday. He expects consolidation in the Nifty in the 19,500-20,000 range, and sees support for the Nifty Bank coming in at 45,300-45,500 followed by a higher range at 46,200-46,400 levels. 

• FII index longs at 66 per cent vs 69 per cent the previous day

• Nifty put-call ratio (PCR) light, at 0.81 vs 0.82

• Nifty Bank PCR light, at 0.77 vs 0.9

• Fear index India VIX down 12 per cent at 10.24

For existing long positions:

• Nifty intraday and closing stop loss at 19,550

• Nifty Bank intraday stop loss at 45,600 and closing stop loss at 45,400

For existing short positions:

• Nifty intraday and closing stop loss at 19,850

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

For new positions in Nifty:

• Buy Nifty with a stop loss at 19,550 for targets of 19,725, 19,750, 19,780, 19,815, 19,835 and 19,875

• Sell Nifty in the 19,775-19,875 range with a stop loss at 20,000 for targets of 19,725, 19,700, 19,675, 19,650, 19,615 and 19,565

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,450-45,625 range with a stop loss at 45,300 for targets of 45,700, 45,850, 45,925, 46,075 and 46,150

• Aggressive traders can buy Nifty Bank with a strict stop loss at 45,600 for targets of 45,925, 46,075, 46,150, 46,200 and 46,350

• Sell Nifty Bank in the 46,150-46,250 range with a stop loss at 46,400 for targets of 46,075, 45,925, 45,850, 45,700, 45,625 and 45,550

Stocks in F&O ban:

• New in ban: Sun TV

• Already in ban: RBL Bank, Canara Bank, Delta Corp, Indiabulls Housing Finance

• Out of ban: PNB

Stocks of the day: 

Buy L&T futures with a stop loss at Rs 2,555 for targets of Rs 2,610 and Rs 2,630

• Strong results on all parameters
• Buyback at Rs 3,000
• Margin at 10.2 per cent, below estimate
• The management may revise guidance in the next quarter

Sell SBI Life futures with a stop loss at Rs 1,335 for targets of Rs 1,280 and Rs 1,265

• Weak performance on all parameters
• APE and VNB margins below estimates

Results review:

Tata Motors

• Strong all-round performance
• The stock should open in the Rs 650-660 range
• DVR to run 15 per cent

Dixon Tech

• In-line results
• The stock may see some short covering
• Support at Rs 3,900, a higher level at Rs 4,250

Yatharth Hospital IPO:

Singhvi recommends applying for listing gains. He has identified the following key points about the company: 

Positive

• Experienced promoters
• Strong financial data
• Reasonable valuation

Negative

• Low occupancy levels
• So far high growth on a low base

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