Anil Singhvi Market Strategy July 26: After Budget, 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 24,200-24,300 levels and a strong buy zone at 24,075-24,150 levels on Friday, July 26, days after the finance minister unveiled the Narendra Modi government's first Budget after returning to power for a third straight term.
For the Nifty Bank, he expects support to come in at 50,450-50,575 and a stronger support zone at 49,900-50,100 levels.
He expects a higher zone for the headline index at 24,475-24,575 levels and a strong sell zone at 24,600-24,650 levels. For the banking index, he expects a higher zone at 51,325-51,500 levels and a strong sell zone at 51,775-51,925 levels.
Here's how Anil Singhvi sums up the market setup:
Global: Neutral
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Neutral
Trend: Positive
The market wizard also highlights four other important aspects
FII long positions at 57 per cent vs 69 per cent the previous day
Nifty put-call ratio (PCR) at 1.21 vs 0.87
Nifty Bank PCR at 0.78 vs 0.83
Volatility index India VIX up seven per cent at 12.62
ANIL SINGHVI MARKET STRATEGY | For existing long positions
Nifty intraday and closing stop loss at 24,275
Nifty Bank intraday stop loss at 50,450 and closing stop loss at 50,850
ANIL SINGHVI MARKET STRATEGY | For existing short positions
Nifty intraday stop loss at 24,600 and closing stop loss at 24,530
Nifty Bank intraday and closing stop loss at 51,350
ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty50
The best range to buy Nifty is 24,225-24,325 with a stop loss at 24,125 for targets of 24,400, 24,425, 24,475, 24,500, 24,525 and 24,580
The best range to sell Nifty is 24,475-24,575 with a stop loss at 24,675 for targets of 24,425, 24,400, 24,325, 24,300, 24,250, 24,200 and 24,150
ANIL SINGHVI MARKET STRATEGY | For new positions in Nifty Bank
Aggressive traders can buy Nifty Bank in the 49,900-50,100 range with a strict stop loss at 49,800 for targets of 50,450, 50,550, 50,775, 50,875, 51,000 and 51,300
Aggressive traders can sell Nifty Bank in the 51,775-51,925 range with a strict stop loss at 52,100 for targets of 51,500, 51,350, 51,025, 50,900, 50,800 and 50,575
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