Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index emerging at 25,600-25,675 levels and a stronger support zone at 25,475-25,575 levels on Wednesday, January 14.
The market wizard sees support for the Nifty Bank emerging at 59,150-59,300 levels and a strong buy zone at 58,850-59,000 levels.
How market guru Anil Singhvi sums up the trade setup:
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- Global: Negative
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Cautious
- Trend: Positive
FII long positions at 7.54 per cent vs 7.78 per cent before Tuesday's session
Nifty put-call ratio (PCR) at 0.86 vs 0.90
Nifty Bank PCR at 0.96 vs 0.98
Volatility index India VIX down 1.5 per cent at 11.19
For the headline index, the market wizard expects a higher zone at 25,800-25,900 levels and a strong sell zone at 25,935-26,035 levels.
For the banking index, he expects a higher zone at 59,750-59,900 levels and a strong sell zone at 60,000-60,200 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
Nifty intraday and closing stop loss at 25,575
Nifty Bank intraday and closing stop loss at 59,250
For existing short positions:
Nifty intraday and closing stop loss at 25,950
Nifty Bank intraday and closing stop loss at 59,800
For new positions in Nifty50:
- The best range to buy Nifty is 25,475-25,625 with a stop loss at 25,400 for targets of 25,700, 25,735, 25,800, 25,850, 25,875 and 25,935
The best range to sell Nifty is 25,800-25,900 with a stop loss at 26,000 for targets of 25,750, 25,700, 25,625, 25,600, 25,550 and 25,475
For new positions in Nifty Bank:
- Aggressive traders can buy Nifty Bank in the 59,150-59,300 range with a strict stop loss at 59,000 for targets of 59,450, 59,575, 59,675, 59,750, 59,850, 59,900 and 59,975
- Aggressive traders can sell Nifty Bank in the 59,750-59,900 range with a strict stop loss at 60,000 for targets of 59,575, 59,450, 59,375, 59,325, 59,250 and 59,150
- The United States is turning more aggressive against Iran
- A decision by the US Supreme Court on tariffs likely on Wednesday
- Rapid selling by FIIs
- Lukewarm investor reaction to results
- Rising crude oil prices
Why are Nifty50 and Nifty Bank unable to sustain higher levels?
- FIIs are continuing to sell
- Donald Trump's remarks are continuing to fuel geopolitical concerns
- There’s fear that the US could attack Iran at any time
- Even good results are getting a muted market response
- Everyone is looking for an exit opportunity; no investor wants to buy at the moment
- Crude oil is also gradually moving above the $65/barrel mark
- The rupee continues to be weak against the US dollar
- DIIs are putting money in small IPOs but not buying from the market; DIIs are buying but there's no support from retail investors
- Persistent selling in midcap and smallcap stocks has weakened sentiment
How to trade Tata Elxsi
The market wizard sees support for Tata Elxsi futures placed at Rs 5,700 and Rs 5,625, with higher levels expected at Rs 5,885 and Rs 5,920. Here's how he summarises the Tata group company's Q3 results:
- Results strong on all parameters
- Excellent operational performance
- The stock has staged interesting moves in the run-up to results
- It is down one per cent in a week and 15 per cent in a month
How to trade ICICI Lombard
The market guru recommends selling ICICI Lombard futures for targets of Rs 1,865 and Rs 1,845 with a stop loss at Rs 1,920.
- Results are operationally weak
- Profit much below estimates
- Pricing pressure expected going forward
- Already in ban: Sammaan Capital, SAIL
- New in ban: None
- Out of ban: None