Anil Singhvi’s Strategy July 26: Day support zone on Nifty is 15,725-15,775 & Bank Nifty is 34,550-34,675
Benchmark indices ended a volatile session with small gains on Friday, July 23, 2021. The S&P BSE Sensex was up 138.59 points or 0.26 per cent at 52,975.80. The Nifty 50 index closed 32 points or 0.20 per cent higher at 15,856.05. The Bank Nifty index rose 357.10 points or 1.03 per cent to settle at 35,034.40.
Amid neutral global markets, foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, July 26, 2021.
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Benchmark indices ended a volatile session with small gains on Friday, July 23, 2021. The S&P BSE Sensex was up 138.59 points or 0.26 per cent at 52,975.80. The Nifty 50 index closed 32 points or 0.20 per cent higher at 15,856.05. The Bank Nifty index rose 357.10 points or 1.03 per cent to settle at 35,034.40.
In the broader markets underperformed the benchmarks, the S&P BSE Midcap fell 0.07 per cent and the S&P BSE SmallCap gained 0.11 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 26:
Buy On Big Gap-down Opening due to the following reasons:
- Good Results by RIL, ICICI Bank, ITC, JSW Steel and Ambuja
- Strong buying by DIIs and FIIs in Futures
- Record high closing in US Market
Day support zone on Nifty is 15,725-15,775, below that 15,650-15,700 is strong Buy zone.
Day higher zone on Nifty is 15,850-15,925, above that 15,950-16,025 is strong Sell zone.
Day support zone on Bank Nifty is 34,550-34,675, below that 34,350-34,425 is a strong Buy zone
Day higher zone on Bank Nifty is 35,200-35,350, above that 35,425-35,575 is a strong Sell zone.
The Small Day Range for trading on Nifty is 15,775-15,900, while the medium and bigger day trading ranges are 15,725-15,925 and 15,675-15,975, respectively.
The Small Day Range for trading on Bank Nifty is 34,675-35,200, while the medium and bigger day trading ranges are 34,550-35,350 and 34,425-35,425, respectively.
FIIs Index long at 59% Vs 57%
PCR light and comfortable at 1.18 Vs 1.20
India VIX down by 1% at 11.76
For Existing Long Positions:
Nifty intraday stop loss is 15,700 and closing stop loss is 15,625.
Bank Nifty intraday stop loss is 34,900 and closing stop loss is 34,400.
For Existing Short Positions:
Nifty intraday stop loss is 16,000 and closing stop loss is 15,925.
Bank Nifty intraday and closing stop loss are 35,100.
For New Positions:
Buy Nifty in 15,700-15,775 range with a stop loss of 15,625 and target 15,815, 15,835, 15,850, 15,890, 15,915, 15,950.
Sell Nifty in 15,890-15,950 range with a stop loss of 16,000 and target 15,850, 15,825, 15,790, 15,750, 15,725.
For New Positions:
Buy Bank Nifty in 34,425-34,675 range with a stop loss of 34,350 and target 34,875, 34,975, 35,075, 35,200, 35,250.
Sell Bank Nifty in 35,200-35,350 range with a stop loss of 35,500 and target 35,075, 35,000, 34,925, 34,700, 34,575.
F&O Ban Update:
New In Ban: Voda-Idea
Out Of Ban: IB Housing Finance
4 Stocks Already In Ban: NALCO, Cadila, Sun TV, Canara Bank
Stock Of The Day:
Buy Tata Coffee: Stop loss 203 and target 215, 220, 235. A global shortage of coffee, but in India bumper crop to benefit. Coffee prices up by 35% in one month.
08:40 AM IST