Anil Singhvi strategy July 7: 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 7 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 19,300-19,350 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty headline index coming in at 19,375-19,425 levels and a strong buy zone at 19,300-19,350 levels on Friday, July 7. For the Nifty Bank, he expects support at 45,000-45,150 levels and a strong buy zone at 44,750-44,900 levels.

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

Global: Negative
FII: Positive

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

The market wizard expects a "blue sky zone" in the Nifty at 19,525. For the banking index, he sees a higher zone in the 45,425-45,500 zone and the next target at 45,650.

FII index longs on a higher side, at 73 per cent vs 72 per cent the previous day
Nifty put-call ratio (PCR) at 1.48 vs 1.37
Nifty Bank PCR at 1.12 vs 1.08
Fear index India VIX unchanged at 11.84

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 19,275
Nifty Bank intraday stop loss at 45,000 and closing stop loss at 44,750

For existing short positions:

Nifty intraday and closing stop loss at 19,525
Nifty Bank Intraday and closing stop loss at 45,500

For new positions in Nifty:

Buy Nifty in the 19,350-19,425 range with a stop loss at 19,275 for a target of 19,500; above 19,525, hold on to the long position with a 50-point stop loss on a trailing basis
Aggressive traders can sell Nifty with a strict stop loss at 19,525 for targets of 19,425, 19,400, 19,375, 19,350, 19,325 and 19,300

For new positions in Nifty Bank:

Buy Nifty Bank in the 45,000-45,150 range with a stop loss at 44,900 for targets of 45,300, 45,350, 45,415, 45,500 and 45,650
Sell Nifty Bank in the 45,425-45,625 range with a stop loss at 45,700 for targets 45,350, 45,300, 45,150, 45,075 and 45,000
Aggressive traders can sell Nifty Bank with a strict stop loss at 45,500 for targets of 45,150, 45,075, 45,000, 44,900, 44,800 and 44,750

F&O ban update: