Anil Singhvi strategy July 28: 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 28 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 19,385-19,435 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,500-19,565 levels and a strong buy zone at 19,385-19,435 levels on Friday, July 28, the first session of the August derivative series. For the Nifty Bank, he expects support at 45,400-45,550 levels and a strong buy zone at 45,175-45,300 levels.

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

Global: Positive
FII: Positive

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

Singhvi sees a higher zone in the Nifty at 19,725-19,775 levels and a strong sell zone at 19,815-19,875 levels. For the banking index, he sees a higher zone at 45,800-45,925 levels and a strong sell zone at 46,075-46,200 levels.

ANIL SINGHVI MARKET STRATEGY

28th July Strategy: आज की स्ट्रैटेजी#FirstTrade #MarketStrategy #TradingTips #Nifty #BankNifty

Zee Business : https://t.co/XIVkO8bQAT pic.twitter.com/NY8zQIjBvo

— CA Anil Singhvi Zee Business (@AnilSinghvi_) July 28, 2023

FII index longs at 59 per cent vs 67 per cent the previous day
Nifty put-call ratio (PCR) at 0.90 vs 0.87
Nifty Bank PCR at 0.70 vs 0.93
Fear index India VIX up 0.5 per cent at 10.51

For existing long positions:

Nifty intraday stop loss at 19,500 and closing stop loss at 19,550
Nifty Bank intraday stop loss at 45,500 and closing stop loss at 45,400

For existing short positions:

Nifty intraday and closing stop loss at 19,900
Nifty Bank intraday and closing stop loss at 46,000

For new positions in Nifty:

Sell Nifty with a stop loss at 19,900 for targets of 19,600, 19,565, 19,525, 19,500, 19,435 and 19,415
Buy Nifty in the 19,500-19,565 range with a stop loss at 19,400 for targets of 19,600, 19,650, 19,675, 19,700, 19,750 and 19,775

For new positions in Nifty Bank:

Sell Nifty Bank in the 45,800-45,925 range with a stop loss at 46,100 for targets of 45,700, 45,625, 45,575, 45,450, 45,400 and 45,300
Aggressive traders can buy Nifty Bank in the 45,400-45,550 range with a strict stop loss at 45,275 for targets of 45,625, 45,700, 45,800, 45,850 and 45,925

What to expect in August F&O series

Nifty, Nifty Bank strong for four back-to-back series, having added 2,400 pts, 5,400 pts respectively
Both have registered strong moves in four out of the last five series
Nifty rollover increases to 84 per cent, open interest improves to 1.17 crore
FII index long positions at 59 per cent

Strategy for first session of August series

Weak signals for the beginning of a new monthly series
Dow halts 13-day winning run
Significant selling by FIIs on monthly expiry day
An important day to track index levels; closing levels below 19,550 for Nifty and 45,400 for Nifty Bank will be the first sign of weakness

Stocks in F&O ban:

Out of ban: Sun TV, RBL Bank, Delta Corp
New In ban: None
Already In ban: None

Stock of the day:

Buy BEL in the cash segment with a stop loss at Rs 125 for targets of Rs 129.75 and Rs 132.5

Strong operational performance
Margin and profit above estimates
Strong order book

Results review:

India Hotels

Results in-line with estimates
Margin below estimate
Stock priced to perfection
Profit-booking expected

Intellect Design

Results better than estimates
Margin strong, at 23 per cent
Some upside possible

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

TAGS: