Anil Singhvi strategy for January 18: Nifty50 to find support at 17,950-18,000, strong buy zone at 17,850-17,900

Zee Business Managing Editor Anil Singhvi expects the Nifty to find support in the 17,950-18,000 band in the January 18 session, below which, he sees a strong buy zone at 17,850-17,900 levels. He sees the 50-scrip benchmark facing resistance in the 18,075-18,150 zone, followed by a strong sell zone at 18,175-18,250 levels. 

Here's how Anil Singhvi sums up the market setup today: 

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

For the Nifty Bank, Anil Singhvi sees support at 41,875-42,025 levels, below which, he expects a strong buy zone in the 41,725-41,775 band. 

He expects the banking index to face resistance at 42,375-42,500 levels, above which, he predicts a strong sell zone at 42,575-42,725 levels. 

• FIIs index long at 45 per cent vs 40 per cent
• Put-call ratio (PCR) at 1.16 vs 0.8 
• Bank Nifty PCR at 0.81 vs 0.72
• India VIX down three per cent at 14.59

Anil Singhvi market strategy

For existing long positions:

• Nifty intraday and closing stop loss at 17,850
• Bank Nifty intraday stop loss at 41,700 and closing stop loss at 42,000

For existing short positions:

• Nifty intraday and closing stop loss at 18,150
• Bank Nifty intraday stop loss at 42,725 and closing stop loss at 42,625

For new positions in Nifty50:

• Buy Nifty in the 17,850-17,900 range
• Stop loss at 17,775; Targets: 17,950, 17,975, 18,000, 18,050, 18,075
• For aggressive traders: Buy Nifty with a strict stop loss at 17,900 for targets of 18,075, 18,100, 18,125, 18,150, 18,200 and 18,250
• Sell in the 18,100-18,200 range with a strict stop loss at 18,275 for targets of 18,075, 18,050, 18,000, 17,975, 17,950 and 17,900

For new positions in Nifty Bank:

• Buy Nifty Bank in the 41,875-42,025 range with a stop loss at 41,700 for targets of 42,075, 42,175, 42,225, 42,300 and 42,375

• For aggressive traders: Buy Nifty Bank with a strict stop loss at 42,000 for targets of 42,300, 42,375, 42,450, 42,500, 42,575, 42,675 and 42,725

• Sell Nifty Bank in the 42,500-42,675 range with a stop loss at 42,750 for targets of 42,450, 42,375, 42,300, 42,225, 42,175, 42,100 and 42,025

F&O ban

• New in ban: Delta Corp, Manappuram Finance
• Already in ban: L&T Finance, GNFC, Indiabulls Housing Finance
• Out of ban: None

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