Anil Singhvi Market Strategy (April 25): 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 24,075-24,200 and and a strong buy zone at 23,850-24,000 levels on Friday, April 25. For the Nifty Bank, Singhvi expects support at 54,800-55,000 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: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 41 per cent vs 33 per cent before Thursday’s session

• Nifty put-call ratio (PCR) at 1.03 vs 1.10

• Nifty Bank PCR at 1.15 vs 1.04

• Volatility index India VIX up 2 per cent at 16.25

   

The market wizard sees a higher zone at 24,325-24,465 levels and a strong sell zone at 24,500-24,650 levels for the headline index.

For the banking index, he sees a higher zone at 55,450-55,650 levels and a strong sell zone at 55,900-56,075 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 54900

For existing short positions:

• Nifty Intraday n Closing SL 24400
• Bank Nifty Intraday n Closing SL 55650

For new positions in Nifty50:

• Buy Nifty: SL 24075 Tgt 24325, 24350, 24400, 24435, 24465, 24500, 24550

• Aggressive Traders Sell Nifty in 24450-24600 range: Strict SL 24700 Tgt 24400, 24365, 24335, 24250, 24200, 24175

For new positions in Nifty Bank:

• Best range to Buy Bank Nifty is 54475-54675: SL 54250 Tgt 54950, 55075, 55200, 55275, 55375, 55450

• Aggressive Traders Sell Bank Nifty in 55450-55650 range: Strict SL 55750 Tgt 55375, 55300, 55250, 55200, 55100, 55000

• Sell Nifty Bank in the 55,900-56,100 range with a strict stop loss at 56,200 for targets of 55,650, 55,450, 55,375, 55,300, 55,250 and 55,175

F&O Ban Update

• Out Of Ban: RBL Bank

• New In Ban: Nil

• Already In Ban: Nil

   

EARNINGS REVIEWS

Axis Bank (Cash):
Inline results
Stable asset quality
Strong deposit growth
Stock already ran 27% in 3 months
Support Level 1180, Higher Level 1230

Tech Mah (Cash):
Inline results
Stock ran 13% in 5 days
Some profit booking expected
Support Levels 1427 & 1418, Higher Level 1465

Mphasis (Cash):
Strong results like Persistent
Stock ran 12% in 5 days still more upside left
Buy if opens lower
Support Level 2434, Higher Levels 2525 & 2555

SBI Life (Cash):
Results slightly below estimates
Buy near support level if opens lower
Support Level 1575, Higher Level 1645

SBI Cards (Cash):
Inline results
Stock ran 23% in 3 months but results not that great
If Profit booking comes buy at support levels
Support Level 910, 900 & 892, Higher Levels 937 & 950

Sell Cyient (Cash):
SL 1265 Tgt 1200, 1180, 1165
Extremely weak results on all parameters
Continuous second quarter of disappointing results

Buy IEX (Cash):
SL 189 Tgt 194, 197
Strong results
Power and power related stocks in strong demand
Strong 18% volume growth

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