Anil Singhvi Market Strategy (April 28): 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 23,800-23,870 levels and a strong buy zone at 23,550-23,700 levels on Monday, April 28. For the Nifty Bank, Singhvi expects support at 54,175-54,300 levels and a stronger support zone at 53,400-53,600 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: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

• FII long positions at 38 per cent vs 41 per cent before Friday’s session

• Nifty put-call ratio (PCR) at 0.87 vs 1.03

• Nifty Bank PCR at 1.03 vs 1.15

• Volatility index India VIX up 5.5 per cent at 17.16

The market wizard sees a higher zone at 24,175-24,300 levels and a profit-booking zone at 24,350-24,500 levels for the headline index.

For the banking index, he sees a higher zone at 55,000-55,200 levels and a profit-booking zone at 55,250-55,450 levels. 

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

For existing long positions: 

• Nifty Intraday SL 23800 n Closing SL 24000
• Bank Nifty Intraday n Closing SL 54150

For existing short positions:

• Nifty Intraday n Closing SL 24400
• Bank Nifty Intraday n Closing SL 55000

For new positions in Nifty50:

• Aggressive Traders Buy Nifty: Strict SL 23800 Tgt 24125, 24175, 24250, 24300, 24325, 24350

• Aggressive Traders Sell Nifty in 24250-24350 range: Strict SL 24400 Tgt 24175, 24125, 24075, 24000, 23900, 23850

For new positions in Nifty Bank:

• Aggressive Traders Buy Bank Nifty in 54175-54300 range: Strict SL 53950 Tgt 54450, 54650, 54950, 55150, 55250, 55350

• Best range to Sell Bank Nifty is 55175-55375: SL 55550 Tgt 55075, 54675, 54475, 54400, 54300, 54175

No stock in F&O ban

EARNINGS REVIEWS

Buy RIL Futures:
SL 1280 Tgt 1320, 1335

Good performance and Strong guidance. 

EBIDTA in line. 

Good margins in O2C and retail biz. 

First time management confident of consumer growth

Stock Will not underperform now onwards

Buy RBL Bank Futures near 181-183 range: 

SL 178 Tgt 188, 194, 199

Pathetic result. Higher provisioning in Micro finance biz. But slippages only at 4.7% is a positive surprise. 

Now it’s a Buy as stress stabilize due to Normalization of loan portfolio

Trades at attractive valuations at 0.7 BV. 

Buy at lower levels.  Don’t sell at all

IDFC First Bank Futures:
Weak results once again
Stock ran 16% in one month
Due to recent fund raising stock will get support at lower levels
Support level 63, Higher level 71

IGL Futures:
Weak results
6% EBITDA miss
Results below expectations on both volume and margins
Support levels 167 & 170, Higher levels 182 & 184

OFSS Futures:
Mixed results
Revenue growth not impressive but strong operational performance
Stock ran 9% in one month
Support level 8280, Higher level 8940

Sell Poonawala Fincorp Futures:
SL 387 Tgt 365, 355
Results below expectations
Stock ran 20% in three months, profit booking expected

L&T Finance Futures:
Mixed results
Nothing great nothing bad
Support levels 163 & 161, Higher levels 176 & 179

Sell Tata Tech Futures:
SL 709 Tgt 671, 663
Extremely weak results on all parameters
Support levels, Higher levels

STOCK OF THE DAY: INDUS TOWERS

Buy Indus Tower Futures: SL 387 Tgt 405, 410, 416
Board meeting on 30th April to consider bonus and buyback

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