te Anil Singhvi strategy January 29: Important levels to track in Nifty50, Nifty Bank today | Zee Business

Anil Singhvi strategy January 29: 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 strategy January 29: Important levels to track in Nifty50, Nifty Bank today
Here is what Zee Business Managing Editor Anil Singhvi makes of the market today.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,250-21,350 levels and a strong buy zone at 21,075-21,150 levels on Monday, January 29. For the Nifty Bank, he expects support to come in at 44,425-44,500 and a strong buy zone at 44,000-44,150 levels.

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

  • Global: Positive

  • FII: Negative

    TRENDING NOW

  • DII: Positive

  • F&O: Positive

  • Sentiment: Neutral

  • Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 21,450-21,550 levels and a strong sell zone at 21,575-21,675 levels. For the banking index, he expects a higher zone at 45,000-45,125 levels and a strong sell zone at 45,500-45,700 levels. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs at 22 per cent vs 48 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.04 vs 0.92
  • Nifty Bank PCR at 0.71 vs 0.60
  • Volatility index India VIX down 3.5 per cent at 13.87

For existing long positions:

  • Nifty intraday and closing stop loss at 21,225

  • Nifty Bank intraday and closing stop loss at 44,400

For existing short positions:

  • Nifty intraday stop loss at 21,500 and closing stop loss at 21,575

  • Nifty Bank intraday and closing stop loss at 45,150

For new positions in Nifty:

  • Buy Nifty with a stop loss at 21,225 for targets of 21,450, 21,475, 21,500, 21,550, 21,575 and 21,625

  • Aggressive traders can sell Nifty in the 21,550-21,650 range with a strict stop loss at 21,750 for targets of 21,500, 21,450, 21,400, 21,350, 21,300 and 21,250

For new positions in Nifty Bank:

  • Buy Nifty Bank with a strict stop loss at 44,400 for targets of 45,075, 45,125, 45,325, 45,475, 45,550, 45,625 and 45,700

  • Sell Nifty Bank in the 45,475-45,625 range with a strict stop loss at 45,750 for targets of 45,350, 45,150, 45,100, 45,025, 44,875 and 44,500

F&O ban update

  • Out of ban: Zee Entertainment Enterprises 

  • Already in ban: None

  • New in ban: None

RESULTS REVIEWS

AU Small Finance Bank 

Sell AU Small Finance Bank shares in the cash segment with a stop loss at Rs 714 for targets of Rs 685 and Rs 675

  • Results weak on all parameters
  • Increase in cost of funds
  • Increase in provisions, slippages, NPAs

Shriram Finance

Buy Shriram Finance shares in the cash segment with a stop loss at Rs 2,285 for targets of Rs 2,350, Rs 2,365 and Rs 2,395

  • NIM improvement a positive surprise
  • AUM growth strong at 21 per cent 
  • Improvement in asset quality

Cholamandalam Investment and Finance Company

Buy Cholamandalam Investment and Finance shares in the cash segment with a stop loss at Rs 1,223 for targets of Rs 1,260 and Rs 1,278

  • Results better than estimates
  • Loan growth strong at 27 per cent 
  • NIM stable at 7.4 per cen

Stocks of the day
Sell Syngene shares in the cash segment with a stop loss at Rs 697 for targets of Rs 660 and Rs 650

  • Results came on Thursday
  • Results below estimates
  • Guidance weak 

Buy Zen Tech shares with a stop loss at Rs 712 for targets of Rs 740, Rs 750 and Rs 765

  • Results strong on all parameters
  • Margin improved from 32 per cent to 43 per cent 

Buy Mangalam Cement shares with a stop loss at Rs 655 for targets of Rs 685, Rs 700 and Rs 715

  • Operational performance strong 
  • Margin up from 5.0 per cent to 13 per cent

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.

Written By: ZeeBiz WebTeam
Updated: Mon, Jan 29, 2024
09:37 am
New Delhi, ZeeBiz WebDesk
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