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

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 20,000-20,050 levels and a strong buy zone at 19,865-19,950 levels on Wednesday, September 20, as market participants return to trade after a holiday. For the Nifty Bank, he expects support at 45,425-45,575 levels and a strong buy zone at 45,150-45,300 levels.

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

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi sees a higher zone emerging in the Nifty at 20,100-20,135 levels and a profit-booking zone at 20,165-20,225 levels. For the banking index, he expects a higher zone at 45,900-46,000 levels and a strong sell zone at 46,150-46,300 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi expects pressure in the market owing to HDFC Bank amid weakness in global markets, crude oil quoting near $96-odd a barrel levels and FII outflows. One can expect fresh strength in the market once the Nifty and the Nifty Bank cross 20,225 and 46,400 levels, respectively. 

He sees strong support for the Nifty and the banking index coming in at 19,825-19,950 and 45,150-45,325 levels, respectively. 

• FII long positions at 65 per cent vs 66 per cent the previous day
• Nifty put-call ratio (PCR) at 1.10 vs 1.31
• Nifty Bank PCR at 0.81 vs 1.05
• Fear index India VIX down one per cent at 10.84

For existing long positions:

• Nifty intraday and closing stop loss at 19,975

• Nifty Bank intraday and closing stop loss at 45,800

For existing short positions:

• Nifty intraday and closing stop loss at 20,225

• Nifty Bank intraday and closing stop loss at 46,325

For new positions in Nifty:

• Sell Nifty with a stop loss at 20,225 for targets of 20,075, 20,050, 20,000, 19,950, 19,915, 19,865 and 19,825

• Buy Nifty in the 19,865-20,000 range with a stop loss at 19,800 for targets of 20,050, 20,075, 20,100, 20,125, 20,165 and 20,190

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 46,325 for targets of 45,800, 45,650, 45,575, 45,525, 45,400, 45,325, 45,225 and 45,150

• Aggressive traders can buy Nifty Bank in the 45,150-45,325 range with a strict stop loss at 45,000 for targets of 45,400, 45,525, 45,575, 45,625, 45,700, 45,800 and 45,875

Stocks in F&O ban:

• New in ban: PNB, Delta Corp

• Already in ban: Chambal Fertilisers, Balrampur Chini, BHEL, Zee Entertainment Enterprises, REC, IEX, Manappuram, Indiabulls Housing Finance

• Out of ban: India Cements, Hindustan Copper

Stock of the day:

Sell HDFC Bank futures with a stop loss at Rs 1,640 for targets of Rs 1,615, Rs 1,601 and Rs 1,585

• Management revealed in a meeting with analysts that it expects a reduction in NIM and pressure on asset quality due to the merger 
• JPMorgan, Jefferies and HSBC have reduced targets

RR Kabel listing preview:

Singhvi expects RR Kabel shares to list around Rs 1,100-1,125 levels, as against the upper end of its issue price at Rs 1,035. He suggests short-term investors place a stop loss at Rs 1,075.

He had recommended subscribing to the IPO from a long-term perspective.

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