Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,725-19,825 levels and a strong base at 19,550-19,650 levels on Thursday, September 21. For the Nifty Bank, he expects support at 45,000-45,150 levels and a strong base at 44,825-44,950 levels.

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

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

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Singhvi sees a higher zone coming in for the Nifty at 19,900-19,950 levels and a profit-booking zone at 20,000-20,075 levels. For the banking index, he expects a higher zone at 45,525-45,650 levels and a profit-booking zone at 45,750-45,900 levels. 

ANIL SINGHVI MARKET STRATEGY  

Although pressure is likely to persist on Dalal Street owing to weak domestic as well as global signals, and a weekly expiry of F&O contracts due at the end of the session, the Nifty may manage to fare better than the Nifty Bank, according to Singhvi.  

He sees strong support for the Nifty and the banking index emerging at 19,600-19,725 and 44,825-45,000 levels, respectively.  

  • FII index long positions at 61 per cent vs 65 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.80 vs 1.10
  • Nifty Bank PCR at 0.82 vs 0.81
  • Fear index India VIX up three per cent at 11.13

For existing long positions:

  • Nifty intraday and closing stop loss at 19,800
  • Nifty Bank intraday and closing stop loss at 45,000

For existing short positions:

  • Nifty intraday stop loss at 20,000 and closing stop loss at 20,100
  • Nifty Bank intraday stop loss at 45,750 and closing stop loss at 46,000

For new positions in Nifty:

  • Sell Nifty with a stop loss at 20,050 for targets of 19,865, 19,825, 19,775, 19,725 and 19,650
  • Aggressive traders can buy Nifty in the 19,725-19,825 range with a strict stop loss at 19,600 for targets of 19,865, 19,900, 19,950, 19,990 and 20,050

For new positions in Nifty Bank:

  • Sell Nifty Bank with a stop loss at 45,750 for targets of 45,275, 45,150, 45,000, 44,950, 44,875, 44,825, 44,775 and 44,725
  • Aggressive traders can buy Nifty Bank in the 44,825-45,000 range with a strict stop loss at 44,650 for targets of 45,150, 45,275, 45,375, 45,500, 45,575, 45,650 and 45,725

Stocks in F&O ban:

  • New in ban: Hindustan Copper
  • Already in ban: PNB, Delta Corp, Chambal Fertilisers, Balrampur Chini, BHEL, Zee Entertainment Enterprises, Manappuram, Indiabulls Housing Finance
  • Out of ban: REC, IEX

Stocks of the day:

Buy Syrma SGS with a stop loss at Rs 515 for targets of Rs 535, Rs 540 and Rs 548; buy Kaynes Technology with a stop loss at Rs 2,020 for targets of Rs 2,080, Rs 2,095 and Rs 2,120

  • EMS stocks looking good on strong fund buying

Sell Apollo Tyres futures with a stop loss at Rs 384 for targets of Rs 373, Rs 370 and Rs 366

  • Production halted at Gujarat facility

EMS listing preview:

  • Expected to list around Rs 300 vs issue price of Rs 211
  • Short-term Investors should keep a trailing stop loss at Rs 275 
  • Earlier, Singhvi advised to apply for the IPO for big listing gains

Sai Silks (Kalamandir) IPO preview:

Singhvi suggests investors avoid the issue, citing the following key points: 

Negative:

  • Highly competitive business
  • De-growth in the saree industry
  • Only present in southern parts of the country; expansion will be a challenge
  • 31 per cent of promoter holdings pledged
  • Huge dead inventory levels

Positive:

  • Leading player in the southern parts of the country
  • valuation reasonable, "neither attractive nor expensive"

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