Anil Singhvi Market Strategy July 15: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,400-24,460 levels and a strong buy zone at 24,250-24,350 levels on Monday, July 15.

For the Nifty Bank, he expects support to come in at 51,950-52,075 levels and a stronger support zone at 51,650-51,850 levels.

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

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• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 79 per cent vs 78 per cent the previous day

• Nifty put-call ratio (PCR) at 1.28 vs 1.29

• Nifty Bank PCR at 0.86 vs 0.89

• India VIX down two per cent at 13.73

He sees a higher zone for the headline index at 24,575-24,625 levels and a "blue-sky zone" above the 24,625 mark.

For the banking index, he expects a higher zone at 52,525-52,675 levels and a strong sell zone at 52,750-52,875 levels.

Three aces of buying today

• Strong rally on Wall Street
• Robust FII inflows
• Good growth in direct tax collection

Why is profit-taking possible?

• FII index long positions at 79 per cent, too high ahead of a big event like Budget
• One-sided rally of 3,000 points after election results
• Several funds and investors may want to book profits now
• Typically, the market changes direction after Budget

EDITOR’S TAKE

• Dow giving strong buying signals
• Nasdaq, S&P witnessing strong buying after a day's pause
• Net buying of Rs 12,000 crore by FIIs in cash, stock, index futures
• Direct tax collections up 20 per cent between April and July 11
• Market technically strong at life highs
• Retail investors parking funds heavily in mutual funds
• Most investors remain underinvested; everyone experiencing FOMO
• Strong support for Nifty at 24,150-24,325 levels
• Index at 25,000 before 2025 looks very easy now
• Stick to 'buy on dips' strategy
• Buying to continue in midcap & smallcap stocks
• Inflation at four-month high
• Book profits at higher levels

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 24,400 and closing stop loss at 24,275

• Nifty Bank intraday stop loss at 51,950 and closing stop loss at 52,100

For existing short positions:

• Nifty intraday stop loss at 24,625 and closing stop loss at 24,525

• Nifty Bank intraday and closing stop loss at 52,850

For new positions in Nifty50:

• The best range to buy Nifty is 24,360-24,460 with a stop loss at 24,250 for targets of 24,500, 24,575 and 24,625; above 24,625, one may hold on to their long positions with a trailing stop loss

• Sell Nifty only if it trades below 24,300

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 51,850-52,000 range with a strict stop loss at 51,750 for targets of 52,175, 52,275, 52,400, 52,475, 52,575, 52,675 and 52,800

• Aggressive traders can sell Nifty Bank in the 52,675-52,825 range with a strict stop loss at 53,000 for targets of 52,575, 52,500, 52,425, 52,300, 52,175 and 52,075

Stocks in F&O ban

• New in ban: GMR Airports
• Already in ban: RBL Bank, Balrampur Chini, IEX, Bandhan Bank, Chambal Fertilisers, Indus Towers, GNFC, Piramal Enterprises, AB Fashion, India Cements
• Out of ban: None

Results reviews

HCL Tech

• Results better than estimates
• Good but not great
• Stock rose three per cent on Friday
• Futures have support in the Rs 1,500-1,520 range and higher levels at Rs 1,580, Rs 1,595 and Rs 1,605

IREDA

• Operational performance strong but good results already priced in
• IREDA's performance suggests REC & PFC will also report good results

Stock of the Day

Buy Aurobindo Pharma shares with a stop loss at Rs 1,315 for targets of Rs 1,345, Rs 1,358 and Rs 1,370

• Company to consider buyback on July 18

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