Anil Singhvi Market Strategy (June 13): How to trade Nifty 50, Nifty Bank today? Key levels to track & more

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,625-24,750 levels and a stronger support zone at 24,450-24,550 levels on Friday, June 13. For the Nifty Bank, the market wizard expects support at 55,550-55,750 levels and a strong buy zone at 55,250-55,450 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

• FII long positions at 20 per cent vs 22 per cent before Thursday's session

• Nifty put-call ratio (PCR) at 0.92 vs 0.97

• Nifty Bank PCR at 0.83 vs 0.96

• Volatility index India VIX up 2.5 per cent at 14.01

The market wizard expects a higher zone at 24,825-24,900 levels and a strong sell zone at 25,000-25,100 levels for the headline index.

For the banking index, he expects a higher zone at 55,950-56,150 levels and a strong sell zone at 56,400-56,600 levels.

Is the stress due to FII selling or something else?

• On Thursday, FII outflows in cash stood at Rs 3,831 crore
• Total outflows incuding index and stock futures amounted to Rs 12,150 crore
• DIIs inflows have continued for 18th straight sessions, at Rs 9,394 crore, including Rs 7,700-crore block deal in Asian Paints 
• FIIs were gradually moving towards buying but rising geopolitical tensions could have changed that 
• After a good two-month rally and strong appreciation, it is wise to book profits now 
• Global cues may trigger some more selling 
• FIIs are not bearish on India, and may switch to buying again as soon as conditions improve

Key Nifty50 and Nifty Bank levels to watch out for

• Nifty has rallied from 24,464 all the way to 25,222 
• A close below 24,450 may turn the bullish trend into neutral 
• On the other hand, a close below 23,900 may lead to a bearish trend 
• Nifty Bank has risen from 54,576 to 57,049 
• A close below 55,350 may turn the bullish trend into neutral 
• A close below 54,575 may lead to a bearish trend 

Any positive signals?

• Domestic inflation is at a six-year low, very positive 
• Dollar index at a 4-year low, below the 98 mark 
• A massive Rs 7,700 crore block deal in Asian Paints has been smoothly absorbed by SBI Mutual Fund 

Which stocks and sectors to focus on?

• Oil and paint companies are expected to continue to reel under pressure
• Stocks linked to aviation and global trade may stay weak 
• Mild buying can be seen in FMCG stocks due to easing inflation 
• Defense stocks could be in demand amid global tensions 

What should traders and investors do now?

Traders 

• Manage risk with strict stop-losses on long positions 
• Minimise intraday and overnight exposure 
• Most day traders had their long stop-losses triggered on Thursday 

Investors

• Nobody can predict the start or end of geopolitical tensions 
• What’s certain is recovery and rally follow once tensions subside 
• Until then, you need to manage your portfolio through the fall 
• Such events offer golden chances for fresh investments during dips 
• If investing for the short term, reduce positions slightly 
• If your view is a year or longer, there’s no reason to worry

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

For existing long positions: 

• Nifty intraday stop loss at 24,800 and closing stop loss at 24,750

• Nifty Bank intraday stop loss at 55,950 and closing stop loss at 55,750

For existing short positions:

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

• Nifty Bank intraday stop loss at 56,200 and closing stop loss at 56,625

For new positions in Nifty50:

• Sell Nifty for targets of 24,750, 24,700, 24,675, 24,625, 24,550, 24,500 and 24,450 with a stop loss at 25,000 

• Aggressive traders can buy Nifty in the 24,500-24,625 range with a strict stop loss at 24,400 for targets of 24,750, 24,825, 24,850, 24,900, 24,950 and 25,000

For new positions in Nifty Bank:

• Sell Nifty Bank for targets of 55,800, 55,750, 55,675, 55,600, 55,550, 55,450, 55,350 and 55,250 with a stop loss at 56,200 

• Aggressive traders can buy Nifty Bank in the 55,450-55,675 range with a strict stop loss at 55,250 for targets of 55,750, 55,800, 55,875, 55,950, 56,000 and 56,075

Stocks in F&O ban

• New in ban: Birlasoft Tech

• Already in ban: CDSL, IEX, IREDA, RBL Bank, Titagarh, Hindustan Copper, Chambal Fertilisers, AB Fashion

• Out of ban: None

Stocks of the Day 

Sell Adani Port futures for targets of Rs 1,420, Rs 1,400 and Rs 1,390 with a stop loss at Rs 1,465 

• Negative impact on global trade due to Israel-Iran conflict

Sell Indigo futures for targets of Rs 5,400, Rs 5,345 and Rs 5,300 with a stop loss at Rs 5,525 

• Geopolitical tension and rising crude both negative for aviation sector

Sell HPCL futures for targets of Rs 385, Rs 380, Rs 377 and Rs 373 with a stop loss at Rs 399; sell Asian Paints futures for targets of Rs 2,200, Rs 2,188 and Rs 2,172 with a stop loss at Rs 2,275  

• Crude at $75 is negative