Anil Singhvi Market Strategy (Jan 21): How to trade Nifty50, Nifty Bank, Persistent, AU SFB

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index emerging at 25,000-25,150 levels and a stronger support zone at 24,800-24,900 levels on Wednesday, January 21.

The market wizard sees support for the Nifty Bank coming in at 59,075-59,275 levels and a strong buy zone at 58,650-58,850 levels.

How market guru Anil Singhvi sums up the trade setup:

Add Zee Business as a Preferred Source

• Global: Negative
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Negative
• Trend: Neutral

• FII long positions at 9.18 per cent vs 9.49 per cent before Tuesday's session

• Nifty put-call ratio (PCR) at 0.72 vs 0.78

• Nifty Bank PCR at 0.85 vs 1.06

• Volatility index India VIX up 8 per cent at 12.71

For the headline index, the market wizard expects a higher zone at 25,375-25,475 levels and a strong sell zone at 25,500-25,625 levels.

For the banking index, he expects a higher zone at 59,575-59,775 levels and a strong sell zone at 59,900-60,100 levels.

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

For existing long positions:

• Nifty intraday and closing stop loss at 25,150
• Nifty Bank intraday stop loss at 59,150 and closing stop loss at 59,250

For existing short positions:

• Nifty intraday and closing stop loss at 25,500
• Nifty Bank intraday and closing stop loss at 59,800

For new positions in Nifty50:

• Aggressive traders can sell Nifty in the 25,375-25,500 range with a strict stop loss at 25,650 for targets of 25,250, 25,175, 25,150, 25,100, 25,000 and 24,900
• Aggressive traders can buy Nifty in the 25,000-25,150 range with a strict stop loss at 24,950 for targets of 25,225, 25,325, 25,375, 25,425, 25,475 and 25,500

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank in the 59,775-59,975 range with a strict stop loss at 60,125 for targets of 59,600, 59,525, 59,450, 59,375, 59,300, 59,250, 59,150 and 59,000
• Aggressive traders can buy Nifty Bank in the 58,800-59,000 range with a strict stop loss at 58,600 for targets of 59,150, 59,250, 59,325, 59,400, 59,500, 59,575 and 59,775

How to trade buzzing stocks

Sell AU Small Finance Bank futures for targets of Rs 980, Rs 965 and Rs 945 with a stop loss at Rs 1,020

• Results look good overall but are weak operationally
• The stock has already rallied 16 per cent in three months

Sell Persistent Systems futures for targets of Rs 6,210, Rs 6,125 and Rs 6,050 with a stop loss at Rs 6,450

• Results are in line with estimates but the markets are punishing even in line IT results now
• The stock has already risen 9 per cent in three months

United Spirits futures have support at Rs 1,285-1,272, with a higher range expected at Rs 1,345-1,365

• Results are a mixed bag
• Volumes are lower than estimates but the product mix is good
• The stock has underperformed the market, down 6.3 per cent in a month

Buy Newgen Software shares in the cash segment for targets of Rs 635, Rs 645 and Rs 660 with a stop loss at Rs 617

• Results were announced during market hours on Tuesday
• The stock has fallen 15 per cent already and a recovery expected

Sell Vikram Solar shares in the cash segment

• Results are much below estimates
• A 5 per cent dent in the order book is a big negative
• On Tuesday, the stock fell 10 per cent
• There is more downside expected today

Sell Indus Towers futures for targets of Rs 410, Rs 406 and Rs 398 with a stop loss at Rs 425

• One may sell from a trading perspective if the stock opens higher
• This is a pure trading call ahead of results
• Those invested in the stock can hold on to their positions

Stocks in futures & options (F&O) ban

• Already in ban: Sammaan Capital, SAIL
• New in ban: None
• Out of ban: None