Anil Singhvi Market Strategy (April 29): 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 24,000-24,075 levels on Tuesday, April 29. For the Nifty Bank, Singhvi expects support at 55,100-55,300 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: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 42 per cent vs 38 per cent before Monday’s session

• Nifty put-call ratio (PCR) at 1.22 vs 0.87

• Nifty Bank PCR at 1.02 vs 1.03

• Volatility index India VIX down 1.25 per cent at 16.94

The market wizard sees a higher zone at 24,435-24,550 levels and a profit-booking zone at 24,575-24,700 levels for the headline index.

For the banking index, he sees a higher zone at 55,550-55,650 levels and a profit-booking zone at 55,950-56,100 levels. 

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

For existing long positions: 

• Nifty intraday stop loss at 24,200 and closing stop loss at 24,000
• Nifty Bank intraday and closing stop loss at 55,000

For existing short positions:

• Nifty intraday and closing stop loss at 23,400
• Nifty Bank intraday and closing stop loss at 55,650

For new positions in Nifty50:

• The best range to buy Nifty is 24,125-24,250 with a stop loss at 24,000 for targets of 24,350, 24,400, 24,435, 24,465, 24,500 and 24,550

• Aggressive traders can sell Nifty in the 24,500-24,650 range with a strict stop loss at 24,750 for targets of 24,435, 24,400, 24,350, 24,325, 24,250 and 24,200

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 55,100-55,350 with a stop loss at 55,000 for targets of 55,425, 55,575, 55,650, 55,950 and 56,075; above 56,100, the banking index will be in a “blue-sky zone”

• Aggressive traders can 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

5 big positive signals for Dalal Street 

• Strong FII & DII inflows
• Progress in trade deal talks
• Strength across global markets
• RBI’s OMO announcement
• Monday’s stunning recovery leading to a strong close

How much could a deal in the ongoing tariff war benefit Dalal Street?

• India has dealt with the tariff war issue positively
• India’s first position among deal earners will strengthen its position in global markets
• India is set to be USA’s preferred trade partner in future

How positive is the FII & DII trend?

• Both FIIs and DIIs seem to be focused on the long term
• A bullish trend is visible, instead of war-related caution
• In the cash segment, FIIs and DIIs have emerged net purchases for a second straight day
• FII inflows amount to Rs 10,000 crore across cash, stock and index futures segments
• FIIs are net buyers to the tune of Rs 300 crore for the month so far
• March-April could to be the first two back-to-back months of FII inflows since July 2024 

Can you expect Nifty to reach 24,500 on Tuesday?

• Nifty is set to cross 24,350 decisively on Tuesday after attempting to cross the mark for four sessions
• There is a good possibility that the Nifty approaches 24,500
• If all goes well, the next target for the headline index could be 24,800
• Nifty Bank may continue to strengthen taking positive cues from the RBI’s liquidity measures 
• The banking index can scale a fresh high beyond 56,000 

ALSO READ: RBI to purchase Rs 1.25 lakh-crore bonds in May

Stocks in F&O ban

• New in ban: RBL Bank
• Out of ban: None
• Already in ban: None

PNB Housing Finance 

• Excellent results on all parameters
• Stable NIMs and cost of funds
• Focus on affordable housing
• Trading at attractive valuations, 1.25 book value
• Buy PNB Housing futures for targets of Rs 1,003, Rs 1,014 and Rs 1,025 with a stop loss at Rs 977 

Adani Green 

• Strong 30 per cent growth by a utility company
• Trading at attractive valuation
• Buy Adani Green futures for targets of Rs 962 and Rs 968 with a stop loss at Rs 925 

Stocks of the Day: Samvardhana Motherson, Sona BLW Precision

Buy Samvardhana Motherson futures for targets of Rs 139 and Rs 142 with a stop loss at Rs 132

Buy Sona BLW futures for targets of Rs 472, Rs 475 and Rs 480 with a stop loss at Rs 453  

• USA may soften its stand on tariffs for auto and auto ancillary companies

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