Anil Singhvi Market Strategy (April 24): Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,125-24,250 levels and a strong buy zone at 23,900-24,075 levels on Thursday, April 24. For the Nifty Bank, Singhvi expects support at 55,000-55,150 levels and a strong buy zone at 54,475-54,675 levels. Read on to learn about the market wizard’s views for the day. 

How market guru Anil Singhvi sums up trade setup this morning: 

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 33 per cent vs 32 per cent before Wednesday’s sesson

• Nifty put-call ratio (PCR) unchanged at 1.10

• Nifty Bank PCR at 1.04 vs 1.16

• Volatility index India VIX up 5 per cent at 15.96

   

The market wizard sees a higher zone at 24,400-24,500 levels and a strong sell zone at 24,550-24,700 levels for the headline index.

For the banking index, he sees a higher zone at 55,500-55,650 levels and a profit-booking zone at 55,900-56,100 levels. 

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions: 

• Nifty Intraday SL 24000 n Closing SL 24100
• Bank Nifty Intraday n Closing SL 55000

For existing short positions:

• Nifty Intraday n Closing SL 24400
• Bank Nifty Intraday n Closing SL 55700

For new positions in Nifty50:

• Best range to Buy Nifty is 24075-24200: SL 23950Tgt 24250, 24325, 24400, 24435, 24465, 24500, 24550

• Aggressive Traders Sell Nifty in 24465-24600 range: Strict SL 24700 Tgt 24435, 24400, 24365, 24335, 24250, 24200

For new positions in Nifty Bank:

• Best range to Buy Bank Nifty is 54475-54675: SL 54250 Tgt 54950, 55150, 55250, 55300, 55375, 55450

• Aggressive Traders Buy Bank Nifty in 55000-55150 range: Strict SL 54900 Tgt 55300, 55375, 55450, 55650, 55950, 56075

• Sell Bank Nifty in 55900-56100 range: Strict SL 56200 Tgt 55650, 55450, 55375, 55300, 55250, 55175

   

F&O Ban Update

EARNINGS REVIEWS

Tata Consumer Futures:

Stable results

All business done very vell except Tea business impacted due to higher raw material cost

Buy on Dips from investment perspective

Support Levels 1122 & 1133, Higher Level 1167

Buy Persistent Systems Futures:

SL 5075 Tgt 5240, 5350, 5420

Solid all-round performance

Best results in Midcap IT stocks

Strong operational performance

LTIMindtree Futures:

Good results. Top two clients stable

Good TCV deals at 1.6 billion dollar

Seen some short covering yesterday, more expected from hedge funds

Buy at support levels

Support Level 4400, Higher Level 4675

Dalmia Bharat Futures:

Stable results. Cement stocks looking strong

Buy at support levels

Support Level 1850, Higher Level 1930

Sell Syngene Futures:

SL 760 Tgt 737, 728, 720

Very weak results on all parameters

Outlook for next year is even weaker

Bajaj Finance ‘Stock of the Day’ 

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