Anil Singhvi Market Strategy July 31: 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 24,750-24,800 levels and a stronger support zone at 24,600-24,660 levels on Wednesday, July 31. For the Nifty Bank, he expects support to come in at 51,175-51,300 levels and a stronger support zone at 50,800-51,000 levels.
He expects a higher zone for the headline index at 24,950-25,000 levels and a "blue-sky zone" above the 25,050 mark. For the banking index, he expects a higher zone at 51,775-51,950 levels and a profit-booking zone at 52,175-52,350 levels.
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Anil Singhvi Market Strategy | Here is how the market guru sums up the market setup today
Global: Neutral
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Positive
Trend: Positive
FII long positions at 66 per cent vs 65 per cent the previous day
Nifty put-call ratio (PCR) at 1.23 vs 1.14
Nifty Bank PCR at 0.77 vs 0.71
INDIA VIX down 0.5 per cent at 12.88
Anil Singhvi Market Strategy | For existing long positions
Nifty intraday and closing stop loss at 24,750
Nifty Bank intraday stop loss at 51,150 and closing stop loss at 50,875
Anil Singhvi Market Strategy | For existing short positions
Nifty intraday stop loss at 25,050 and closing stop loss at 24,875
Nifty Bank intraday stop loss at 52,000 and closing stop loss at 51,800
Anil Singhvi Market Strategy | For new positions in Nifty50
Aggressive traders can buy Nifty in the 24,700-24,800 range with a strict stop loss at 24,600 for targets of 24,835, 24,860, 24,900, 24,960 and 24,990
Aggressive traders can sell Nifty in the 24,950-25,025 range with a strict stop loss at 25,075 for targets of 24,860, 24,835, 24,800, 24,775, 24,700 and 24,660
Anil Singhvi Market Strategy | For new positions in Nifty Bank
Aggressive traders can buy Nifty Bank in the 51,175-51,300 range with a strict stop loss at 51,000 for targets of 51,400, 51,500, 51,775, 51,875, 51,950, 52,175 and 52,275
Aggressive traders can sell Nifty Bank in the 51,775-51,950 range with a strict stop loss at 52,075 for targets of 51,500, 51,400, 51,325, 51,250, 51,175 and 51,025
Key takeaways from Sebi proposals on index derivatives
Contract size should be increased from Rs 10 lakh to up to Rs 30 lakh
No more daily expiry; only one big index to have weekly expiry
Like selling, buying options to also require upfront margin
At the time of expiry, calendar spread benefit won't be available
Margins to increase closer to expiry
Only a maximum of 50 strikes to remain open
Positions to be monitored on an intraday basis
Why does Sebi feel that these changes are needed?
Illogical trade trends in retail options
Daily weekly expiries promote gambling
Manifold volumes on expiry day
Wild swings with heavy volumes in last hour on expiry day
Retail F&O traders suffering huge losses
What will be the likely impact of these changes?
Sebi proposals are right, and in the right direction
Retail traders need to be protected against heavy losses
Proposals discourage gambling attitude
There will be less hope of making big profits by buying cheap options
Retail traders to incur smaller losses
One can expect some reduction in liquidity
Algo and hedge funds, proprietor brokers, instant traders to suffer losses
Reduced volumes to impact BSE and NSE
Results Review | Tata Consumer Products earnings a mixed bag; domestic business stable, global business strong
The market guru sees support for Tata Consumer Products futures coming in at Rs 1,175, and higher levels at Rs 1,200 and Rs 1,220.
Results Review | Indus Towers results good thanks to provision reversals, otherwise below expectations
The market wizard highlights that both the size and the price of Indus Towers' buyback is a big surprise.
He expects profit booking at higher levels in Indus Towers futures.
He expects support to emerge at Rs 440 and a higher level at Rs 460.
Anil Singhvi Stocks of the Day | Sell Navin Fluorine futures, results weak on all fronts
The market guru suggests selling Navin Fluorine futures for targets of Rs 3,765, Rs 3,700 and Rs 3,650 with a stop loss at Rs 3,815.
Anil Singhvi Stocks of the Day | Buy Torrent Power shares, results strong
The market wizard suggests buying Torrent Power shares in the cash segment for targets of Rs 1,635, Rs 1,650 and Rs 1,675 with a stop loss at Rs 1,580.
The power utility company clocked a 44-basis-point improvement in its quarterly margin to 20.6 per cent while its net profit grew 87 per cent.
Anil Singhvi Stocks of the Day | Buy Dixon Tech futures, results extraordinarily strong
The market guru suggests buying Dixon Tech futures for targets of Rs 12,400, Rs 12,480 and Rs 12,600 with a stop loss at Rs 11,950.
Anil Singhvi Stocks of the Day | Buy GAIL futures
The market wizard suggests buying GAIL futures for targets of Rs 238, Rs 240 and Rs 244 with a stop loss at Rs 232.
The natural gas PSU giant has staged a strong financial performance on all fronts, he adds.
Anil Singhvi Stocks of the Day | Buy Zaggle Prepaid shares
The market wizard suggests buying Zaggle Prepaid shares for targets of Rs 340, Rs 345 and Rs 350 with a stop loss at Rs 325.
Anil Singhvi Stocks of the Day | Buy 360 One Wam shares
The market guru suggests buying 360 One Wam shares for targets of Rs 1,120, Rs 1,130 and Rs 1,145 with a stop loss at Rs 1,065.
F&O Ban Update
Already in ban: India Cements
F&O Ban Update
New in ban: None
F&O Ban Update
Out of ban: None