Anil Singhvi Market Strategy August 9: 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 a strong buy zone for the headline Nifty50 index to emerge at 24,000-24,125 levels on Friday, August 9. For the Nifty Bank, he expects support to come in at 50,100-50,125 and a strong buy zone at 49,675-49,825 levels.
He expects a higher zone coming for the headline index coming in at 24,300-24,375 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 and a profit-booking zone at 50,875-50,975 levels.
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How Anil Singhvi sums up the market setup
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Anil Singhvi Market Strategy | For existing long positions
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Anil Singhvi Market Strategy | For existing short positions
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ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty50
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ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty Bank
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Stock of the Day | ABB India
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The market guru suggests buying ABB futures for targets of Rs 8,100, Rs 8,200 and Rs 8,350 with a stop loss at Rs
7,895.
The company has staged an operationally strong performance during the June quarter with a record margin of 19.2 per cent and a very strong outlook for order inflows, he points out.
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Seesaw moves at lower levels a good sign
Four back-to-back sessions of big gaps between opening and closing levels
Wild swings in intraday trade
These are signs of a bottom
Important for Nifty50 to hold 23,875 and Nifty Bank to hold 49,650 on a closing basis
Closing levels above 24,500 and 51,350 will signal a short-term bottom, respectively
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