Anil Singhvi Market Strategy August 6: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,900-24,050 levels and a stronger support zone at 23,625-23,800 levels on Tuesday, August 6. For the Nifty Bank, he expects support to come in at 49,900-50,100 levels followed by a strong base at 49,500-49,700 levels.
He expects a higher zone for the headline index at 24,200-24,350 levels and a profit-booking zone at 24,400-24,500 levels. For the banking index, he expects a higher zone at 50,550-50,750 levels and a profit-booking zone at 50,975-51,175 levels.
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How Anil Singhvi sums up the market setup
Global: Neutral
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Cautious
Trend: Neutral
FIIs Long position at 60% Vs 64%
Nifty put-call ratio (PCR) at 0.72 vs 0.91 the previous day
Nifty Bank PCR at 0.59 vs 0.78
India VIX up 42 per cent at 20.37
ANIL SINGHVI MARKET STRATEGY | For existing long positions
Nifty intraday and closing stop loss at 23,875
Nifty Bank intraday and closing stop loss at 49,700
ANIL SINGHVI MARKET STRATEGY | For existing short positions
Nifty intraday and closing stop loss at 24,400
Nifty Bank intraday and closing stop loss at 51,000
ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty50
Buy Nifty with a stop loss at 23,875 for targets of 24,200, 24,300, 24,350, 24,400, 24,475 and 24,500
Aggressive traders can sell Nifty in the 24,350-24,500 range with a strict stop loss at 24,600 for targets of 24,300, 24,200, 24,075, 24,000 and 23,900
ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty Bank
Buy Nifty Bank with a stop loss at 49,700 for targets of 50,425, 50,550, 50,750, 50,875, 50,975 and 51,175
Aggressive traders can sell Nifty Bank in the 50,750-50,975 range with a strict stop loss at 51,100 for targets of 50,550, 50,425, 50,100, 50,000, 49,900 and 49,725
Stocks in F&O ban
New in ban: Hindustan Copper
Already in ban: Chambal Fertilisers, AB Capital, IndiaMART, Birlasoft, RBL Bank, GNFC, Granules India, India Cements
Out of ban: None
