Anil Singhvi strategy April 18: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,000-22,075 levels and a strong buy zone at 21,825-21,950 levels for the headline Nifty50 index on Thursday, April 18.

For the Nifty Bank, he expects initial support to come in at 47,125-47,250 levels followed by a stronger support zone at 46,875-47,025 levels.

Here’s how Anil Singhvi sums up the market setup:

• Global: Neutral

• FII: Negative

• DII: Positive  

• F&O: Neutral

• Sentiment: Negative

• Trend: Positive

He expects a higher level for the headline index at 22,200-22,300 levels and a strong sell zone at 22,350-22,450 levels. 

For the banking index, Singhvi expects a higher zone at 47,675-47,825 and a strong sell zone at 47,900-48,075 levels. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 44 per cent vs 49 per cent the previous day

• Nifty put-call ratio (PCR) at 0.76 vs 0.81

• Nifty Bank PCR at 0.85 vs 0.60

• Volatility index India VIX up 1.5 per cent at 12.64

Editor’s take

• No news of fresh attacks in Iran-Israel conflict
• Israel PM warned of retaliatory action
• Crude oil at $88 a good sign 
• Dow has stopped falling for two days
• Israel tensions are triggering limited reactions on Wall Street
• Wall Street market participants are more worried about delayed rate cuts
• FIIs withdrawing funds aggressively from Dalal Street
• Important for Nifty50 to hold 22,000 on a closing basis on the day of weekly F&O expiry
• Light positions in Nifty Bank following weekly expiry

What should traders do?

• Fears of war behind but markets not out of the woods yet
• Intraday and overnight swings to persist for now
• Traders should keep their positions light

What should investors do?

• Don’t panic
• Keep tracking global developments closely; stay cautious
• If Israel retaliates, make sure not to panic and buy instead
• Any 1-2 per cent gap-down opening on Dalal Street should be used as an opportunity to buy aggressively
• Such situations have come and gone so many times

For existing long positions:

• Nifty intraday and closing stop loss at 22,000

• Nifty Bank intraday and closing stop loss at 47,250

For existing short positions:

• Nifty intraday and closing stop loss at 22,300
• Nifty Bank intraday stop loss at 47,800 and closing stop loss at 48,000

For new positions in Nifty:

• Aggressive traders can sell Nifty in the 22,250-22,350 range with a strict stop loss at 22,450 for targets of 22,200, 22,150, 22,125, 22,075, 22,025 and 22,000

• Aggressive traders can buy Nifty in the 21,950-22,075 range with a strict stop loss at 21,900 for targets of 22,150, 22,200, 22,250, 22,275 and 22,300

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank in the 47,775-47,900 range with a strict stop loss at 48,050 for targets of 47,725, 47,625, 47,500, 47,325 and 47,250

• Aggressive traders can buy Nifty Bank in the 47,125-47,250 range with a strict stop loss at 46,950 for targets of 47,400, 47,475, 47,600, 47,725, 47,775 and 47,875

F&O ban update

• New in ban: Vodafone Idea
• Out of ban: India Cements, Exide Industries
• Already in ban: Bandhan Bank, SAIL, GNFC, Metropolis, PEL, Balrampur Chini, Hindustan Copper, NALCO, ZEEL

Stocks of the day

Buy ICICI Lombard futures with a stop loss at Rs 1,633 for targets of Rs 1,680 and Rs 1,695

• Results better than estimates
• Jefferies has maintained a ‘buy’ rating with a target of Rs 1,950

Sell Tata Communications futures with a stop loss at Rs 1,915 for targets of Rs 1,860, Rs 1,848 and Rs 1,838

• Results below estimates
• Weak operating performance
• Margins down 1.5 per cent 

Buy Biocon futures with a stop loss at Rs 260 for targets of Rs 272, Rs 278 and Rs 283

• The company has entered an exclusive licensing and supply agreement with Biomm
• The company will sell its products in Brazil
• The drug has a big market size of $3.7 billion in Brazil
• Biocon expected to get $500 million sales in next two years

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