Anil Singhvi strategy for January 27: Key market triggers, important Nifty50, Nifty Bank levels to track today
Zee Business Managing Editor Anil Singhvi shares his strategy for the January 27 session on Dalal Street. 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 expects support for the Nifty50 benchmark to come in at 17,800-17,850 levels on Friday, as Dalal Street returns to trade after the Republic Day holiday, and a strong buy zone in the 17,675-17,750 area. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support at 41,550-41,650 levels, and, further below, a strong buy zone in the 41,300-41,425 band.
Here's how Anil Singhvi sums up the market setup on January 27:
- Global: Positive
- FII: Negative
- DII: Positive
- F&O: Positive
- Sentiment: Neutral
- Trend: Positive
For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,975-18,025 levels, and further above, a strong sell zone in the 18,050-18,125 band. For the banking index, he sees a higher zone at 41,875-41,950 levels, and a strong sell area in the 42,025-42,175 zone.
- FIIs index longs at 38 per cent on Friday vs 58 per cent on Wednesday
- Put-call ratio (PCR) at 0.91 on Friday vs 0.81 the previous day
- Nifty Bank PCR at 0.62 vs 0.75 the previous day
- Fear index India VIX up 7.3 per cent at 14.66
Anil Singhvi market strategy
For existing long positions:
Nifty intraday stop loss at 17,750 and closing stop loss at 17,850
Nifty Bank intraday and closing stop loss at 41,500
For existing short positions:
- Nifty intraday and closing stop loss at 18,125
- Nifty Bank intraday and closing stop loss at 42,200
For new positions in Nifty:
Buy Nifty with a stop loss at 17,750 for targets of 17,950, 17,975, 18,000, 18,025, 18,050 and 18,100
Aggressive traders can sell Nifty in the 18,050-18,125 range with a strict stop loss at 18,200 for targets of 18,000, 17,975, 17,950, 17,900 and 17850
For new positions in Nifty Bank:
Aggressive traders can buy Nifty Bank with a strict stop loss at 41,500 for targets of 41,725, 41,825, 41,875, 41,950, 42,025 and 42,100
Aggressive traders can sell Nifty Bank in the 42,000-42,200 range with a strict stop loss at 42,300 for targets of 41,950, 41,875, 41,825, 41,725, 41,650 and 41,550
No stock in F&O ban
Stocks of the day:
- Sell Dixon Tech, sharp fall possible amid weak results
- Sharp gains expected in Bajaj Auto after strong results; target Rs 4,000
- Some more gain possible in Tata Motors after strong results; stock rose ahead of earnings announcement
- Cipla results weak, but concall good; core business stronger, a recovery possible
- Ceat results strong with robust cash flow
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