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Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,450-24,550 levels and a strong buy zone at 24,275-24,375 levels on Tuesday, August 12. For the Nifty Bank, the market wizard expects support at 55,150-55,350 levels and a strong buy zone at 54,900-55,000 levels.
How market guru Anil Singhvi sums up trade setup:
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Global: Neutral
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FII: Positive
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DII: Positive
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F&O: Neutral
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Sentiment: Cautious
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Trend: Neutral
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FII long positions unchanged at 8 per cent as before Monday's session
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Nifty put-call ratio (PCR) at 1.03 vs 0.72
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Nifty Bank PCR at 0.81 vs 0.80
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Volatility index India VIX up 1.5 per cent at 12.22
The market wizard expects a higher zone at 24,650-24,725 levels and a profit-booking zone at 24,765-24,850 levels for the headline index.
For the banking index, he expects a higher zone at 55,650-55,750 levels and a profit-booking zone at 55,850-56,000 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
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Nifty intraday stop loss at 24,450 and closing stop loss at 24,350
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Nifty Bank intraday stop loss at 55,150 and closing stop loss at 55,000
For existing short positions:
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Nifty intraday and closing stop loss at 24,675
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Nifty Bank intraday and closing stop loss at 55,650
For new positions in Nifty50:
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The best range to buy Nifty is 24,350-24,500 with a stop loss at 24,250 for targets of 24,550, 24,600, 24,650, 24,675, 24,725, 24,765 and 24,850
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Aggressive traders can sell Nifty in the 24,675-24,800 range with a strict stop loss at 24,900 for targets of 24,635, 24,600, 24,550, 24,450, 24,375 and 24,350
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 55,000-55,225 with a stop loss at 54,900 for targets of 55,350, 55,500, 55,625, 55,750, 55,850 and 55,950
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Aggressive traders can sell Nifty Bank in the 55,750-55,950 range with a strict stop loss at 56,100 for targets of 55,650, 55,525, 55,375, 55,225, 55,150 and 55,000
Stocks in F&O ban
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New in ban: PG Electroplast
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Already in ban: PNB Housing Finance, RBL Bank
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Out of ban: None
RESULTS REVIEWS
Astral
- Results highly disappointing on all parameters
- Sell Astral futures for targets of Rs 1,365, Rs 1,350 and Rs 1,330 with a stop loss at Rs 1,405
Titagarh Rail Systems
- Results weak on all fronts
- Sell Titagarh Rail futures for targets of Rs 760, Rs 745 and Rs 735 with a stop loss at Rs 792
STOCKS OF THE DAY
Buy Belrise Industries shares for targets of Rs 137, Rs 140 and Rs 142 with a stop loss at Rs 132
- Results strong on all parameters
Sell Hindalco futures for targets of Rs 660 and Rs 653 with a stop loss at Rs 681
- Novelis results weak
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