Anil Singhvi strategy for January 30: Key market triggers, important Nifty50, Nifty Bank levels to track today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark to come in at 17,425-17,475 levels on Monday, and a strong support zone in the 17,300-17,350 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 in the 39,850-39,925 band, and, further below, a strong buy area at 39,550-39,700 levels. 

Here's how Anil Singhvi sums up the market setup on January 30: 

• Global: Positive
• FII: Negative
• DII: Positive
• F&O: Positive
• Sentiment: Negative
• Trend: Negative

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,750-17,825 levels, and further above, a strong sell zone in the 17,850-17,950 area. For the banking index, he sees a higher zone at 40,700-40,900 levels, and a strong sell zone in the 41,400-41,650 area. 

• FII index long at 25 per cent today vs 38 per cent on Friday
• Put-call ratio (PCR) at 0.74 vs 0.91 on Friday
• Nifty Bank PCR at 0.48 vs 0.62 
• Fear index India VIX up 18.2 per cent at 17.3

Anil Singhvi market strategy

For existing long positions:

• Nifty intraday and closing stop loss at 17,450

• Nifty Bank intraday and closing stop loss at 40,000

For existing short positions:

• Nifty intraday and closing stop loss at 17,900
• Nifty Bank intraday stop loss at 41,000 and closing stop loss at 41,650

For new positions in Nifty:

• Aggressive traders can buy Nifty with a strict stop loss at 17,450 for targets of 17,675, 17,750, 17,800, 17,825, 17,850 and 17,900

• Aggressive traders can sell Nifty in the 17,750-17,900 range with a strict stop loss at 18,000 for targets of 17,675, 17,600, 17,575, 17,500, 17,475, 17,425 and 17,350

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank with a strict stop loss at 40,000 for targets of 40,625, 40,700, 40,775, 40,900, 41,150, 41,200, 41,300 and 41,450
• Aggressive traders can sell Nifty Bank in the 41,400-41,650 range with a strict stop loss at 41,800 for targets of 41,200, 41,150, 40,900, 40,775, 40,650, 40,425, 40,350 and 40,150

F&O ban update

New in ban: Ambuja Cement
Out of ban: None
Already in ban: None

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