Anil Singhvi Market Strategy June 27: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's 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.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,675-23,750 levels and a strong buy zone at 23,525-23,625 levels on Thursday, June 27, the last trading session of the June F&O series.
For the Nifty Bank, he expects support to come in at 52,375-52,500 levels and a strong buy zone at 51,850-52,050 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Neutral
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FII: Neutral
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DII: Positive
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F&O: Neutral
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Sentiment: Positive
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Trend: Positive
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FII long positions at 67 per cent vs 61 per cent the previous day
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Nifty put-call ratio (PCR) at 1.31 vs 1.38
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Nifty Bank PCR at 1.06 vs 1.61
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Volatility index India VIX down two per cent at 14.05
He sees a higher zone for the headline index emerging at 23,900-23,975 levels and a "blue-sky zone" above 24,025 with the next big targets at 24,200 and 24,500.
For the banking index, he expects a blue-sky zone above 53,050 with the next big targets at 53,500 and 54,000 levels.
EDITOR'S TAKE
- Mixed global signals
- Strong dollar index posing mild pressure across Asia
- Buy in case of a weak opening
- Adopt 'buy on dips' strategy on F&O expiry day
- Buy as quickly and as much as the magnitude of the gap-down opening
- Nifty Bank might slow down after monthly F&O expiry
- Buying expected in IT, pharma and FMCG shares amid sectoral churning
- Midcap, smallcap stocks likely to see strong buying action
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
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Nifty intraday and closing stop loss at 23,650
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Nifty Bank intraday and closing stop loss at 52,350
For existing short positions:
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Nifty intraday stop loss at 24,000 and closing stop loss at 23,900
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Nifty Bank intraday and closing stop loss at 53,050
For new positions in Nifty50:
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The best range to buy Nifty is 23,625-23,750 with a stop loss at 23,500 for targets of 23,800, 23,865, 23,890, 23,950 and 24,000
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Aggressive traders can sell Nifty with a strict stop loss at 24,025 for targets of 23,800, 23,750, 23,725, 23,675, 23,625 and 23,565
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 51,850-52,050 with a stop loss at 51,650 for targets of 52,350, 52,475, 52,600, 52,725, 52,875 and 52,975
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Aggressive traders can sell Nifty Bank with a strict stop loss at 53,050 for targets of 52,625, 52,500, 52,375, 52,050, 51,950 and 51,850
Stocks in F&O ban
- New in ban: India Cements
- Already in ban: PNB, SAIL, GNFC, Indus Towers
- Out of ban: None
Stocks of the Day
Buy PI Industries futures with a stop loss at Rs 3,755 for targets of Rs 3,840 and Rs 3,890
- Small yet promising biologics acquisition
- Deal at attractive valuations
- Jefferies has a 'buy' rating, Rs 4,740 target
Buy PB Fintech shares with a stop loss at Rs 1,330 for targets of Rs 1,360, Rs 1,375 and Rs 1,390
- Strong growth prospects and margin improvement
- Citi has maintained 'buy' rating with Rs 1,600 target
Dr Reddy’s
- Good acquisition at reasonable valuations
- 10x EBITDA/sales
- Financials to improve from FY26
- Company needs to spend Rs 4,835 crore upfront
- Short-term neutral to slight negative but long-term positive
- Long-term Investors must buy in case of a big fall in the stock
- Good entry range in futures at Rs 5,900-5,920
July F&O series Nifty Bank outlook
- Banking index surged 4,370 points in June series
- Rollover jumped 3.0 per cent to 70.70 per cent from
- FII long positions high in Nifty Bank futures, at 67 per cent
- Generally, July series is positive for Nifty Bank
- Nifty Bank finished July series higher in seven out of 10 years
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08:48 AM IST