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Anil Singhvi strategy July 26: 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 26 session. 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 July 26: Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees a strong buy zone for Nifty emerging at 19,500-19,565 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,600-19,650 levels and a strong buy zone at 19,500-19,565 levels on Wednesday, July 26. For the Nifty Bank, he expects support at 45,500-45,625 levels and a strong buy zone at 45,300-45,450 levels.

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

  • Global: Positive

  • FII: Positive

    TRENDING NOW

  • DII: Neutral

  • F&O: Neutral

  • Sentiment: Neutral

  • Trend: Positive

Singhvi sees a higher zone in the Nifty coming in at 19,725-19,775 levels and a profit-booking zone at 19,815-19,875 levels. For the banking index, he sees a higher zone at 46,075-46,175 levels and a strong sell zone at 46,250-46,375 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi expects excitement in the market owing to positive moves in global equities, foreign institutional inflows and strong domestic results, though he believes some profit-booking may occur on account of a key Fed rate decision later on Wednesday and the monthly derivative expiry on Dalal Street the next day. 

He expects thinner trade on Wednesday ahead of a significant session on Thursday. He expects consolidation in the Nifty in the 19,500-20,000 range, and sees support for the Nifty Bank coming in at 45,300-45,500 followed by a higher range at 46,200-46,400 levels. 

  • FII index longs at 66 per cent vs 69 per cent the previous day

  • Nifty put-call ratio (PCR) light, at 0.81 vs 0.82

  • Nifty Bank PCR light, at 0.77 vs 0.9

  • Fear index India VIX down 12 per cent at 10.24

For existing long positions:

  • Nifty intraday and closing stop loss at 19,550

  • Nifty Bank intraday stop loss at 45,600 and closing stop loss at 45,400

For existing short positions:

  • Nifty intraday and closing stop loss at 19,850

  • Nifty Bank intraday and closing stop loss at 46,200

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,550 for targets of 19,725, 19,750, 19,780, 19,815, 19,835 and 19,875

  • Sell Nifty in the 19,775-19,875 range with a stop loss at 20,000 for targets of 19,725, 19,700, 19,675, 19,650, 19,615 and 19,565

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 45,450-45,625 range with a stop loss at 45,300 for targets of 45,700, 45,850, 45,925, 46,075 and 46,150

  • Aggressive traders can buy Nifty Bank with a strict stop loss at 45,600 for targets of 45,925, 46,075, 46,150, 46,200 and 46,350

  • Sell Nifty Bank in the 46,150-46,250 range with a stop loss at 46,400 for targets of 46,075, 45,925, 45,850, 45,700, 45,625 and 45,550

Stocks in F&O ban:

  • New in ban: Sun TV

  • Already in ban: RBL Bank, Canara Bank, Delta Corp, Indiabulls Housing Finance

  • Out of ban: PNB

Stocks of the day: 

Buy L&T futures with a stop loss at Rs 2,555 for targets of Rs 2,610 and Rs 2,630

  • Strong results on all parameters
  • Buyback at Rs 3,000
  • Margin at 10.2 per cent, below estimate
  • The management may revise guidance in the next quarter

Sell SBI Life futures with a stop loss at Rs 1,335 for targets of Rs 1,280 and Rs 1,265

  • Weak performance on all parameters
  • APE and VNB margins below estimates

Results review:

Tata Motors

  • Strong all-round performance
  • The stock should open in the Rs 650-660 range
  • DVR to run 15 per cent

Dixon Tech

  • In-line results
  • The stock may see some short covering
  • Support at Rs 3,900, a higher level at Rs 4,250

Yatharth Hospital IPO:

Singhvi recommends applying for listing gains. He has identified the following key points about the company: 

Positive

  • Experienced promoters
  • Strong financial data
  • Reasonable valuation

Negative

  • Low occupancy levels
  • So far high growth on a low base

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

Written By: ZeeBiz WebTeam
Updated: Wed, Jul 26, 2023
09:10 am
New Delhi, ZeeBiz WebDesk
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