Anil Singhvi strategy September 27: 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 emerging at 19,550-19,600 levels and a strong buy zone at 19,465-19,525 levels on Wednesday, September 27. For the Nifty Bank, he expects support at 44,400-44,525 levels and a strong base at 44,000-44,200 levels.

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

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

Singhvi sees a higher zone coming in at 19,675-19,735 levels and a strong sell zone at 19,750-19,800 levels for the Nifty. For the banking index, he expects a higher zone at 44,675-44,775 levels and a strong sell zone at 44,925-45,000 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi points out that any big recovery in the Nifty as well as the Nifty Bank, which are close to their strong support levels, is unlikely ahead of the monthly derivatives expiry on Thursday. One can also expect pressure in the market owing to weakness in global markets and persistent FII outflows, he adds.

He sees strong support coming in for the Nifty and the Nifty Bank at 19,450-19,550 and 43,800-44,000 levels and holds the view that only closing levels above 19,800 and 45,000 should be considered the first sign of a recovery, respectively.

• FII index long positions at 48 per cent vs 49 per cent the previous day
• Nifty put-call ratio (PCR) at 0.92 vs 0.91
• Nifty Bank PCR at 0.77 vs 0.82
• Fear index India VIX up 2.5 per cent at 11.19

For existing long positions:

• Nifty intraday stop loss at 19,575 and closing stop loss at 19,500
• Nifty Bank intraday and closing stop loss at 44,400

For existing short positions:

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

For new positions in Nifty:

• Sell Nifty with a stop loss at 19,800 for targets of 19,635, 19,600, 19,575, 19,550, 19,525, 19,485 and 19,465
• Buy Nifty in the 19,525-19,600 range with a stop loss at 19,425 for targets of 19,635, 19,665, 19,700, 19,725 and 19,750

For new positions in Nifty Bank:

• Sell Nifty Bank in the 44,750-44,900 range with a stop loss at 45,000 for targets of 44,675, 44,625, 44,550, 44,450 and 44,400
• Aggressive traders can sell Nifty Bank with a strict stop loss at 44,800 for targets of 44,550, 44,400, 44,325, 44,200, 44,125 and 44,000
• Aggressive traders can buy Nifty Bank in the 44,200-44,400 range with a strict stop loss at 44,000 for targets of 44,525, 44,600, 44,725, 44,775 and 44,900

Stocks in F&O ban:

• New in ban: Delta Corp, India Cements
• Out of ban: Granules India
• Already in ban: Balrampur Chini, Canara Bank, Hindustan Copper, Indiabulls Housing Finance

Stocks of the day:

Buy Dalmia Bharat futures with a stop loss at Rs 2,330 for targets of Rs 2,385, Rs 2,410 and Rs 2,455

-Increase in cement prices in the south and the north from October 1

Buy Cyient shares with a stop loss at Rs 1,650 for targets of Rs 1,700, Rs 1,725 and Rs 1,750

-Morgan Stanley raised its price target for the stock from Rs 1,550 to Rs 2,000

Signatureglobal (India) listing preview:

Singhvi, who earlier advised to apply for the IPO from a long-term perspective, expects the stock to debut in the range of Rs 420-440 as against the issue price of Rs 385.

• Investors must hold for 2-3 years; short-term investors can keep a stop loss at Rs 400
• Long-term investors can buy near Rs 400

Sai Silks (Kalamandir) listing preview:

Singhvi, who earlier gave an 'avoid' call on the IPO, expects the stock to list near the issue price of Rs 222.

-Short-term investors can keep a stop loss at the issue price

Updater Services IPO preview:

Singhvi suggests only investors with a high-risk appetite to apply for the IPO from a long-term perspective.

-Better to buy post-listing

He identified the following key points about the company:

Positive:

• Experienced management
• Impressive track record of acquisitions
• Strong growth outlook

Negative:

• High attrition rate
• Debt-equity ratio higher than industry average
• Expensive valuations 

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