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Market Strategy by Anil Singhvi January 16: Key levels to follow in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,125-23,225 levels and a strong buy zone at 23,000-23,075 levels in the Nifty50 headline index on Thursday, January 16. In Nifty Bank, he expects support at 48,525- 48,75 and a strong buying position 48,050-48,250 levels.

Here’s how the market guru summed up the trade setup this morning:

  • Global: Good

  • FII: Bad

  • DII: Good

  • F&O: Good

  • Feeling: Good

  • Trending: Bad

  • FIIs Long Term unchanged at 17%

  • Nifty PCR at 0.82 Vs 0.86

  • Bank Nifty PCR at 0.59 Vs 0.60

  • INDIA VIX was down 1% at 15.26

The market wizard sees a high point at 23,350-23,500 levels and a profit-booking point at 23,525-23,635 levels in the headline index.

With the bank index, you see a high point at 49,225-49,475 levels and a profit booking point at 49,750-49,950 levels.

ANIL SINGHVI MARKET STRATEGIES

For existing long positions:

For existing short positions:

  • Nifty Intraday SL 23350 n Closing SL 23525
  • Bank Nifty Intraday SL 49100 n Closing SL 49500

For new positions in Nifty50:

  • Buy Nifty:
    SL 23100 Tgt 23340, 23425, 23500, 23550, 23600, 23635

  • Aggressive Traders Sell Nifty in 23500-23625 range:
    Strict SL 23750 Tgt 23425, 23350, 23265, 23225, 23175

For new positions in Nifty Bank:

  • Buy Bank Nifty:
    SL 48500 Tgt 49075, 49225, 49375, 49475, 49750, 49825, 49950

  • Aggressive Traders Sell Bank Nifty in 49750-49975 range:
    Solid SL 50250 Tgt 49500, 49400, 49250, 49100, 49000, 48750

Stocks on F&O ban .

  • New on Block: AB Fashion, Manappuram, Kalyan Jewelers
  • Already Banned: Angel One, Aarti Ind, L&T Fin, Bandhan Bk, Hind Copper, RBL Bk
  • Out of Ban: Nil

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