Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark to come in at 18,075-18,125 levels on Tuesday, below which, he sees a strong buy zone in the 17,950-18,025 area. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support at 42,575-42,725 levels, and a strong buy zone in the 42,375-42,500 band. 

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Here's how Anil Singhvi sums up the market setup on January 24: 

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

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,175-18,250 levels, and above those, a strong sell zone in the 18,275-18,350 band. For the banking index, he sees a higher zone at 43,000-43,150, and a strong sell area at 43,250-43,375 levels. 

Index Support levels Higher levels
Nifty50 18,125, 18,100, 18,075, 18,025, 18,000 18,150, 18,175, 18,200, 18,250, 18,275, 18,300
Nifty Bank 42,725, 42,675, 42,575, 42,500, 42,450, 42,375 42,950, 43,025, 43,150, 43,200, 43,250, 43,375
  • FIIs index long at 56 per cent on Tuedsay vs 53 per cent the previous day
  • Put-call ratio (PCR) at 0.94 vs 0.83 the previous day
  • Nifty Bank PCR at 0.95 vs 0.94 the previous day
  • Fear index India VIX down one per cent at 13.62

Anil Singhvi market strategy

For existing long positions:

  • Nifty intraday and closing stop loss at 18,000
  • Nifty Bank intraday stop loss at 42,500 and closing stop loss at 42,300

For existing short positions:

  • Nifty intraday and closing stop loss at 18,200
  • Nifty Bank intraday and closing stop loss at 43,050

For new positions in Nifty:

  • Buy Nifty50 with a stop loss at 18,000 for targets of 18,150, 18,175, 18,200, 18,250, 18,275 and 18,300
  • Aggressive traders can sell Nifty50 in the 18,225-18,300 range with a strict stop loss at 18,350 for targets of 18,175, 18,150, 18,125, 18,100, 18,050 and 18,025

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 42,500 for targets of 42,950, 43,025, 43,150, 43,200, 43,250 and 43,375
  • Aggressive traders can sell Nifty Bank in the 43,150-43,250 range with a strict stop loss at 43,400 for targets of 43,025, 42,950, 42,825, 42,725, 42,675 and 42,575

F&O ban

  • Already in ban: PVR, Delta Corp and L&T Finance
  • New in ban: None
  • Out of ban: None

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