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

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 21,725-21,850 levels and a stronger support zone at 21,550-21,675 levels for the headline Nifty50 index on Friday, April 19, as the country enters the first phase of a seven-phase polling process under the 2024 Lok Sabha elections.

For the Nifty Bank, he expects initial support to come in at 46,250-46,400 levels followed by a stronger support zone at 45,825-46,025 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 21,975-22,075 levels and a strong sell zone at 22,150-22,250 levels. 

For the banking index, Singhvi expects a higher zone at 46,975-47,075 levels and a strong sell zone at 47,250-47,325 levels. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 32 per cent vs 44 per cent the previous day

• Nifty put-call ratio (PCR) at 0.93 vs 0.76

• Nifty Bank PCR at 0.70 vs 0.85

• Volatility index India VIX up 3.5 per cent at 13.04

   

For existing long positions:

For existing short positions:

• Nifty Intraday SL 22225 n Closing SL 22150
  Bank Nifty Intraday n Closing SL 47325

For new positions in Nifty:

• Sell Nifty:
  SL 22100 Tgt 21850, 21800, 21775, 21725, 21675, 21625

  Buy Nifty only if it trades above 22100
  Aggressive Traders can Buy very small quantity in 21625-21800 range with Strict Stoploss of 21500 for Target up to 21975

For new positions in Nifty Bank:

• Sell Bank Nifty:
  SL 47325 Tgt 46675, 46525, 46400, 46325, 46250, 46025, 45825

  Buy Bank Nifty only if it trades above 47325
  Aggressive Traders can Buy very small quantity in 46025-46325 range with Strict Stoploss of 45800 for Target up to 46775, 46975

F&O ban update

• New in ban: Exide Industries 
• Already in ban: Vodafone Idea, Bandhan Bank, SAIL, GNFC, Metropolis, PEL, Balrampur Chini, Hindustan Copper, NALCO, ZEEL
• Out of ban: None

Results reviews

Infosys

• Weak results
• Stock already down almost 12 per cent over the last few weeks
• A 3-5 per cent fall will offer a good buying opportunity 
• Futures have support at Rs 1,355 and Rs 1,375; a higher level at Rs 1,445

Bajaj Auto

• Results strong on all parameters
• Book profit on gap-up opening
• Support at Rs 8800 and Rs 8,920; higher levels at Rs 9,175 and Rs 9,235

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