Anil Singhvi Market Strategy (Jan 22): How to trade Nifty50, Nifty Bank today

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 Thursday, January 22.

The market wizard sees support for the Nifty Bank coming in at 58,500-58,650 levels and a stronger support zone at 58,275-58,425 levels.

How market guru Anil Singhvi sums up the trade setup:

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

• FII long positions at 11.33 per cent vs 9.18 per cent before Wednesday's session

• Nifty put-call ratio (PCR) at 0.79 vs 0.72

• Nifty Bank PCR at 0.75 vs 0.85

• Volatility index India VIX up 8 per cent at 13.78

For the headline index, the market wizard expects a higher zone at 25,235-25,300 levels and a profit-booking zone at 25,375-25,500 levels.

For the banking index, he expects a higher zone at 59,150-59,275 levels and a profit-booking zone at 59,300-59,500 levels.

Donald Trump’s positive remarks

• A good and early trade deal with India
• PM Narendra Modi a good friend
• 10 per cent tariff on eight European countries (due from February 1) deferred now
• Will not launch an attack on Greenland
• A framework for a Greenland pact has been prepared with NATO

Positive market cues

• FII selling on Wednesday was the smallest seen in recent days
• The market appears to be oversold with RSI below 28
• Trading positions have become much lighter over the past two days
• Margin funding positions of weak investors have also declined
• Large investors didn't sell; panic selling came from retail investors
• Nifty company results post-market hours on Wednesday are good
• No result-related accident likely on Thursday

Negative cues

• No certainty as to when Trump may reverse his stance
• Persistent FII selling
• Sentiment containues to be weak
• In every recovery, selling emerges at higher levels
• A sharp fall in the rupee
• Crude oil above $65/barrel

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

For existing long positions:

• Nifty intraday stop loss at 25,000 and closing stop loss at 25,150

• Nifty Bank intraday stop loss at 58,500 and closing stop loss at 58,650

For existing short positions:

• Nifty intraday and closing stop loss at 25,300

• Nifty Bank intraday stop loss at 59,075 and closing stop loss at 59,500

For new positions in Nifty50:

• Aggressive traders can buy Nifty with a strict stop loss at 25,000 for targets of 25,225, 25,300, 25,375, 25,450 and 25,500

• Aggressive traders can sell Nifty in the 25,325-25,500 range with a strict stop loss at 25,650 for targets of 25,250, 25,175, 25,150, 25,050, 25,000 and 24,925

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank with a strict stop loss at 58,600 for targets of 59,000, 59,150, 59,225, 59,300, 59,400, 59,450, 59,500 and 59,575

• Aggressive traders can sell Nifty Bank in the 59,275-59,450 range with a strict stop loss at 59,600 for targets of 59,150, 59,000, 58,800, 58,650, 58,500 and 58,275

Stocks in futures & options (F&O) ban

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

How to trade stocks in spotlight

Buy Dr Reddy’s Labs futures for targets of Rs 1,172, Rs 1,183 and Rs 1,195 with a stop loss at Rs 1,146

• Results much better than expectations
• The stock has fallen 10 per cent in a month
• Short-covering is expected but one should avoid chasing in case of a big gap-up opening

Buy Eternal futures for targets of Rs 288, Rs 292, Rs 299 and Rs 304 with a stop loss at Rs 278

• Results are outstanding on all parameters
• Deepinder Goyal has resigned from MD and CEO position; it will not have a negative impact on the stock as he will remain Vice Chairman and Director
• The stock has fallen 16 per cent in three months
• Short-covering is expected

Buy Waaree Energies futures for targets of Rs 2,475, Rs 2,525, Rs 2,550 and Rs 2,580 with a stop loss at Rs 2,380

• Results are outstanding with a strong operational performance
• The order book is at a record Rs 60,000 crore
• The stock has fallen 20 per cent in a month and 31 per cent in three months

Buy OFSS futures for targets of Rs 7,800, Rs 7,875 and Rs 8,000 with a stop loss at Rs 7,600

• Results are strong
• The stock has fallen 11 per cent in three months

KEI Industries

• Results are a mixed bag
• The company's operational performance is slightly positive
• Comparatively, the earnings are weaker than Havells and Polycab's
• KEI futures have support at Rs 3,800 and Rs 3,830; higher levels seen at Rs 4,040 and Rs 4,100

HPCL

• The operational performance is weak on all parameters
• Futures have support at Rs 416 and Rs 420; higher levels are expected at Rs 438 and Rs 447

Bank of India

• Results are a mixed bag
• Futures have support at Rs 153 and a higher level seen at Rs 164

PNB Housing Finance

• Results are good, as expected
• The stock has already rallied
• Futures have support at Rs 910 and Rs 920
• Higher levels are expected at Rs 955 and Rs 965