Anil Singhvi strategy July 18: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the July 18 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Zee Business Managing Editor Anil Singhvi sees a strong buy zone for Nifty emerging at 19,500-19,525 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty headline index coming in at 19,565-19,600 levels and a strong buy zone at 19,500-19,525 levels on Tuesday, July 18. For the Nifty Bank, he expects support at 45,225-45,350 levels and a strong buy zone at 45,075-45,175 levels.

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

Global: Positive
FII: Positive

TRENDING NOW
DII: Negative
F&O: Neutral
Sentiment: Positive
Trend: Positive

The market wizard expects a "blue sky zone" in the Nifty above 19,750. For the banking index, he sees a higher zone at 45,550-45,650 levels and a blue sky zone above 45,650.

FII index longs unchanged at 70 per cent
Nifty put-call ratio (PCR) on a higher side, at 1.54 vs 1.34
Nifty Bank PCR on a higher side, at 1.46 vs 0.86
Fear index India VIX up six per cent at 11.32

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests a 'buy on dips' strategy and adds that only closing levels below 19,300 and 44,600 in the Nifty and the Nifty Bank should be considered a sign of weakness.

He expects strength in banking and NBFC stocks owing to HDFC Bank results and the proposed demerger of Jio Financial. One can use earnings to seek buying opportunities in IT stocks, he adds.

For existing long positions:

Nifty intraday stop loss at 19,500 and closing stop loss at 19,375
Nifty Bank intraday and closing stop loss at 45,000

For existing short positions:

Nifty intraday and closing stop loss at 19,750
Nifty Bank intraday and closing stop loss at 45,700

For new positions in Nifty:

Buy Nifty in the 19,565-19,600 range with a stop loss at 19,500 for targets of 19,700 and 19,725; above 19,750, Nifty in a blue sky zone
A sell trigger in the Nifty will come only if it trades below 19,300

For new positions in Nifty Bank:

Buy Nifty Bank in the 45,175-45,350 range with a stop loss at 45,000 for targets of 45,450, 45,550, 45,650; above 45,650, Nifty Bank in a blue sky zone
A sell trigger in Nifty Bank will come only if it trades below 45,000

Stocks in F&O ban:

Out of ban: Hindustan Copper, PNB
Already in ban: RBL Bank, Delta Corp, Manappuram Finance, Indiabulls Housing Finance
New in ban: None

Why are we positive on the IT sector?

Expectation of recovery in the US
Expectations low from companies
Reasonable valuations
Despite weak results, companies maintaining full-year guidance
Big deals pipeline very strong
‘Buy in dips’ strategy

Results review:

18th July Strategy : आज की स्ट्रैटेजी

#BuyonDips #Q1Earnings #Q1FY24 #niftyOptions #BankNiftyOptions #LTIMindtree

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— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 18, 2023