Anil Singhvi’s Strategy July 29: Day support zone on Nifty is 15,625-15,650 & Bank Nifty is 34,350-34,425
Domestic equity barometers ended with minor cuts after a volatile session on Wednesday, July 28, 2021.
Amid neutral global markets, sentiment, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, July 29, 2021.
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Domestic equity barometers ended with minor cuts after a volatile session on Wednesday, July 28, 2021. The S&P BSE Sensex fell 135.05 points or 0.26 per cent to 52,443.71. The Nifty 50 index lost 37.05 points or 0.24 per cent to 15,709.40. The Bank Nifty index closed 264.55 points or 0.76 per cent lower at 34,532.90.
In the broader markets, BSE Midcap ended unchanged while the BSE SmallCap index underperformed the headline indices and slipped 0.45 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 29:
Day support zone on Nifty is 15,625-15,650, below that 15,525-15,575 is a strong Buy zone.
Day higher zone on Nifty is 15,750-15,800, above that 15,825-15,875 is a strong Sell zone.
Day support zone on Bank Nifty is 34,350-34,425, below that 33,925-34,125 is a strong Buy zone.
Day higher zone on Bank Nifty is 34,700-34,800, above that 34,875-35,075 is a strong Sell zone.
The small day range for trading on Nifty is 15,625-15,750, while the medium and bigger ranges are 15,575-15,800 and 15,525-15,850, respectively.
The small day range for trading on Bank Nifty is 34,350-34,700, while the medium and bigger ranges are 34,125-34,900 and 33,925-34,975, respectively.
FIIs Index long at 55% Vs 57%
PCR at oversold levels at 0.93 Vs 0.90, short covering expected from lower levels
India VIX up by 3% at 13.69
For Existing Long Positions:
Nifty Intraday stop loss is 15,500 and Closing stop loss is 15,575.
Bank Nifty Intraday and Closing stop loss are 34,350.
For Existing Short Positions:
Nifty Intraday and Closing stop loss are 15,925.
Bank Nifty Intraday and Closing stop loss are 35,200.
For New Positions:
Buy Nifty in 15,575-15,650 range with a stop loss of 15,500 and target 15,700, 15,725, 15,750, 15,800.
Aggressive Traders Buy Nifty with a strict stop loss of 15,625 and target 15,750, 15,800, 15,825, 15,850, 15,880.
Sell Nifty in 15800-15880 range with a stop loss of 15,925 and target 15,750, 15,725, 15,700, 15,650, 15,575.
For New Positions:
Buy Bank Nifty in 33,925-34,125 range with a stop loss of 33,850 and target 34,350, 34,425, 34,550, 34,675.
Aggressive Traders Buy Bank Nifty with a strict stop loss of 34,350 and target 34,675, 34,800, 34,900, 34,950, 35,000, 35,075.
Sell Bank Nifty in 34,875-35,075 range with a stop loss of 35,200 and target 34,800, 34,675, 34,550, 34,425, 34,350.
F&O Ban Update:
New In Ban: Sun TV
Out Of Ban: SAIL
Stocks Already In Ban: SAIL, Voda-Idea
Tatva Chintan Listing Preview: BUMPER Listing is expected in 2,100-2,300. Keep your Stoploss at 2000 levels.
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