Anil Singhvi strategy for January 30: Key market triggers, important Nifty50, Nifty Bank levels to track today
Zee Business Managing Editor Anil Singhvi shares his strategy for the January 30 session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark to come in at 17,425-17,475 levels on Monday, and a strong support zone in the 17,300-17,350 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 in the 39,850-39,925 band, and, further below, a strong buy area at 39,550-39,700 levels.
Here's how Anil Singhvi sums up the market setup on January 30:
- Global: Positive
- FII: Negative
- DII: Positive
- F&O: Positive
- Sentiment: Negative
- Trend: Negative
For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,750-17,825 levels, and further above, a strong sell zone in the 17,850-17,950 area. For the banking index, he sees a higher zone at 40,700-40,900 levels, and a strong sell zone in the 41,400-41,650 area.
- FII index long at 25 per cent today vs 38 per cent on Friday
- Put-call ratio (PCR) at 0.74 vs 0.91 on Friday
- Nifty Bank PCR at 0.48 vs 0.62
- Fear index India VIX up 18.2 per cent at 17.3
Anil Singhvi market strategy
For existing long positions:
Nifty intraday and closing stop loss at 17,450
Nifty Bank intraday and closing stop loss at 40,000
For existing short positions:
- Nifty intraday and closing stop loss at 17,900
- Nifty Bank intraday stop loss at 41,000 and closing stop loss at 41,650
For new positions in Nifty:
Aggressive traders can buy Nifty with a strict stop loss at 17,450 for targets of 17,675, 17,750, 17,800, 17,825, 17,850 and 17,900
Aggressive traders can sell Nifty in the 17,750-17,900 range with a strict stop loss at 18,000 for targets of 17,675, 17,600, 17,575, 17,500, 17,475, 17,425 and 17,350
For new positions in Nifty Bank:
- Aggressive traders can buy Nifty Bank with a strict stop loss at 40,000 for targets of 40,625, 40,700, 40,775, 40,900, 41,150, 41,200, 41,300 and 41,450
- Aggressive traders can sell Nifty Bank in the 41,400-41,650 range with a strict stop loss at 41,800 for targets of 41,200, 41,150, 40,900, 40,775, 40,650, 40,425, 40,350 and 40,150
F&O ban update
New in ban: Ambuja Cement
Out of ban: None
Already in ban: None
Catch LIVE stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.