Anil Singhvi Market Strategy (April 25): Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,075-24,200 and and a strong buy zone at 23,850-24,000 levels on Friday, April 25. For the Nifty Bank, Singhvi expects support at 54,800-55,000 levels and a strong buy zone at 54,475-54,675 levels. Read on to learn about the market wizard's views for the day. 

How market guru Anil Singhvi sums up trade setup this morning: 

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 41 per cent vs 33 per cent before Thursday's session

• Nifty put-call ratio (PCR) at 1.03 vs 1.10

• Nifty Bank PCR at 1.15 vs 1.04

• Volatility index India VIX up 2 per cent at 16.25

The market wizard sees a higher zone at 24,325-24,465 levels and a strong sell zone at 24,500-24,650 levels for the headline index.

For the banking index, he sees a higher zone at 55,450-55,650 levels and a strong sell zone at 55,900-56,075 levels. 

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions: 

• Nifty intraday stop loss at 24,000 and closing stop loss at 24,100
• Nifty Bank intraday and closing stop loss at 54,900

For existing short positions:

• Nifty intraday and closing stop loss at 24,400
• Nifty Bank intraday and closing stop loss at 55,650

For new positions in Nifty50:

• Buy Nifty with a stop loss at 24,075 for targets of 24,325, 24,350, 24,400, 24,435, 24,465, 24,500 and 24,550

• Aggressive traders can sell Nifty in the 24,450-24,600 range with a strict stop loss at 24,700 for targets of 24,400, 24,365, 24,335, 24,250, 24,200 and 24,175

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 54,475-54,675 with a stop loss at 54,250 for targets of 54,950, 55,075, 55,200, 55,275, 55,375 and 55,450

• Aggressive traders can sell Nifty Bank in the 55,450-55,650 range with a strict stop loss at 55,750 for targets of 55,375, 55,300, 55,250, 55,200, 55,100 and 55,000

• Aggressive traders can sell Nifty Bank in the 55,450-55,650 range with a strict stop loss at 55,750 for targets of 55,375, 55,300, 55,250, 55,200, 55,100 and 55,000

F&O Ban Update

• Out of ban: RBL Bank

• New in ban: None

• Already in ban: None

EARNINGS REVIEWS

Axis Bank 

• Results in line with estimates
• Asset quality stable
• Deposit growth strong 
• The stock has already risen 27 per cent in 3 months
• Support at Rs 1,180 and a higher level expected at Rs 1,230

Tech Mahindra

• Results in line with estimates
• The stock has risen 13 per cent in 5 days
• Some profit-booking is expected
• Support at Rs 1,427 and Rs 1,418
• A higher level expected at Rs 1,465

Mphasis 

• Results strong, comparable with Persistent's
• The stock has risen 12 per cent in 5 days
• More upside is possible
• One may buy in case of a weak start
• Support at Rs 2,434
• Higher levels expected at Rs 2,525 and Rs 2,555

SBI Life Insurance Company

• Results slightly below estimates
• One may buy near key support levels in case of a lower opening
• Support at Rs 1,575
• A higher level expected at Rs 1,645

SBI Card 

• Results in line with estimates, but not great
• The stock has rallied 23 per cent in 3 months
• One may buy at support levels in case profit-booking occurs in the stock
• Support at Rs 910, Rs 900 and Rs 892
• Higher levels at Rs 937 and Rs 950

Cyient 

• Results extremely weak on all fronts
• A second straight quarter of disappointing results
• Sell the stock for targets of Rs 1,200, Rs 1,180 and Rs 1,165 with a stop loss at Rs 1,265 

IEX 

• Results strong 
• Power and power-related stocks are in strong demand
• Volume growth is strong at 18 per cent 
• Buy IEX shares for targets of Rs 194 and Rs 197 with a stop loss at Rs 189 

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