Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,315-19,365 levels and a strong buy zone at 19,200-19,275 levels on Tuesday, November 7. For the Nifty Bank, he expects support at 43,325-43,425 levels and a strong buy zone at 43,150-43,225 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,435-19,485 levels and a strong sell zone at 19,500-19,575 levels. For the banking index, he sees a higher zone coming in at 43,725-43,875 levels and a strong sell zone at 43,950-44,050 levels.  

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests buying near key support levels amid mixed domestic and global signals, as he sees buying opportunities in midcap and smallcap shares. He recommends continuing with a 'buy on dips' strategy till Diwali.   

The market wizard expects strong support for the Nifty and the Nifty Bank coming in at 19,215-19,315 and 43,150-43,325 levels, and a recovery to extend all the way to 19,450-19,550 and 43,875-44,050 levels, respectively. 

  • FII index long positions at 20 per cent vs 18 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.14 vs 0.96
  • Nifty Bank PCR at 1.10 vs 1.01
  • Fear index India VIX up 2.04 per cent at 11.11

For existing long positions:

  • Nifty intraday stop loss at 19,300 and closing stop loss at 19,200
  • Nifty Bank intraday stop loss 43,400 and closing stop loss at 43,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,500
  • Nifty Bank intraday and closing stop loss at 44,000

For new positions in Nifty:

  • The best range to buy Nifty is 19,300-19,365 with a stop loss at 19,200 for targets of 19,385, 19,410, 19,435, 19,465 and 19,485
  • The best range to sell Nifty is 19,465-19,550 with a stop loss at 19,600 for targets of 19,435, 19,410, 19,385, 19,365, 19,340 and 19,315

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 43,225-43,425 with a stop loss at 43,000 for targets of 43,550, 43,625, 43,725, 43,825 and 43,875
  • The best range to sell Nifty Bank is 43,725-43,875 with a stop loss at 44,050 for targets of 43,625, 43,550, 43,425, 43,325, 43,275 and 43,225

F&O ban update

  • Already in ban: GNFC
  • New in ban: None
  • Out of ban: None

Stocks of the day: 

Buy RR Kabel shares with a stop loss at Rs 1,390 for targets of Rs 1,430, Rs 1,442 and Rs 1,455

  • Impressive first results after listing
  • Strong operational performance

Buy Gland Pharma shares with a stop loss at Rs 1,560 for targets of Rs 1,600, Rs 1,615 and Rs 1,630

  • Strong operational performance
  • 22 per cent QoQ US revenue growth impressive
  • Stock can be re-rated on strong revenue growth

Sell SAIL futures with a stop loss at Rs 89 for targets of Rs 85.5 and Rs 84.25

  • Citi downgraded and reduced target from Rs 110 to Rs 80

Honasa Consumers (Mamaearth) listing preview:

Singhvi, who advised that only investors with a high-risk appetite should apply for the IPO for the long term, suggests short-term investors keep a stop loss at the IPO price. 

He expects the stock to list in the range of Rs 335-350, slightly above the issue price of Rs 324.  

Protean Egov Tech IPO preview: 

Singhvi suggests subscribing to the issue for a reasonable listing gain and for the long term. He points out the following key points about the company: 

Positive:

  • Market leader in e-governance solutions
  • Experienced and professional management
  • Debt-free company with strong cash flows
  • Strong growth outlook
  • Attractive valuations

Negative:

  • Mostly dependent on government projects

ASK Automotive IPO preview:

Singhvi recommends applying for the issue from a perspective of 2-3 years, highlighting the following key points about the company:

Positive:

  • Experienced and clean promoters
  • Strong leadership in products with 50 per cent market share
  • Strong financial track record

Negative:

  • It is an OFS, which means no money will go to the company
  • Promoters need to dilute 10 per cent more in future
  • Though revenue growth is impressive but margins fluctuate between 8 per cent and 12 per cent
  • Valuations reasonable at par with peers

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