Anil Singhvi strategy January 11: 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. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

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 21,550-21,600 levels and a strong buy zone at 21,450-21,500 levels on Thursday, January 11. For the Nifty Bank, he expects support at 47,150-47,250 levels and a strong buy zone at 46,925-47,025 levels.

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

Global: Positive
FII: Negative

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

Singhvi expects a higher zone for the Nifty50 at 21,675-21,750 levels and a strong sell zone at 21,775-21,825 levels. For the banking index, he sees a higher zone emerging at 47,650-47,725 levels and a strong sell zone at 47,850-48,000 levels.

ANIL SINGHVI MARKET STRATEGY

FII index longs at 63 per cent vs 64 per cent the previous day
Nifty put-call ratio (PCR) at 1.06 vs 0.88
Nifty Bank PCR at 0.96 vs 0.55
Volatility index India VIX down 2.2 per cent at 13.26

The market wizard believes buying by domestic funds will boost confidence on Dalal Street amid heavy selling by FIIs. He points out improvement in market mood, amid good signals from global markets following the recovery the previous day.

Singhvi expects the Nifty50 to trade in the 21,500-21,800 range, and expects big moves once the index breaks below or above the 21,450 or 21,850 levels, respectively. The last support for the Nifty Bank stands at 46,900-47,200 levels, he says.

He suggests buying into the Nifty at key support levels and rapid profit-taking at higher levels. Strength in Reliance as well as the banking index will determine market direction for the day, he adds.

For existing long positions:

Nifty intraday stop loss at 21,450 and closing stop loss at 21,500
Nifty Bank intraday stop loss at 46,900 and closing stop loss at 47,200

For existing short positions:

Nifty intraday and closing stop loss at 21,800
Nifty Bank intraday stop loss at 47,550 and closing stop loss at 48,000

For new positions in Nifty:

Buy Nifty in the 21,450-21,550 range with a stop loss at 21,400 for targets of 21,600, 21,650, 21,675 and 21,725
Aggressive traders can buy Nifty with a strict stop loss at 21,550 for targets of 21,650, 21,675, 21,725, 21,750, 21,775, 21,800 and 21,825
The best range to sell Nifty is 21,700-21,775 with a stop loss at 21,850 for targets of 21,625, 21,600, 21,550, 21,500 and 21,450

For new positions in Nifty Bank:

The best range to buy Nifty Bank is 47,000-47,150 with a stop loss at 46,900 for targets of 47,250, 47,350, 47,425, 47,500, 47,650 and 47,725
Aggressive traders can buy Nifty Bank with a strict stop loss at 47,150 for targets of 47,500, 47,650, 47,725, 47,850, 47,925 and 48,000
Sell Nifty Bank in the 47,725-47,925 range with a stop loss at 48,075 for targets of 47,650, 47,500, 47,450, 47,375, 47,250, 47,150 and 47,025

F&O ban update

New in ban: Zee Entertainment Enterprises, PVR, Indus Towers
Out of ban: GNFC, Delta Corp
Already in ban: Balrampur Chini, Hindustan Copper, Bandhan Bank, Piramal Enterprises, Chambal Fertilisers, India Cements, Escorts, NALCO, IEX, SAIL

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Sell Polycab India shares with a stop loss at Rs 4,900 for targets below Rs 4,800, Rs 4,550 and Rs 4,375

Zee Business exclusive report confirmed
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I-T search was conducted at more than 50 locations of the company in the country

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