Anil Singhvi's Market Strategy on Key Levels for Nifty and Nifty Bank

Anil Singhvi's Analysis of Nifty and Nifty Bank

On January 16, market expert Anil Singhvi highlighted critical support and buying levels for investors to consider. For the Nifty50 index, he identified the initial support range between 21,965 and 22,025, with a stronger buy zone at 21,825-21,925. The Nifty Bank is similarly expected to find support between 47,850 and 48,000 levels and presents a compelling buy zone at 47,650-47,775.

An overview of the market mood according to Singhvi paints a mixed picture. The sentiment is generally positive, bolstered by neutral global cues, FII positivity, and a constructive trend outlook, despite some negativity from DIIs. The F&O segment remains neutral, further outlining the market's balanced state.

Insights on Market Dynamics and Strategy

Anil Singhvi points to an optimistic scenario known as the 'blue-sky zone' for the Nifty50 above the 22,150 level. For the Nifty Bank, potential higher zones are noted at 48,250-48,350, with profit-booking advised at 48,450-48,625 levels. The current market strength is attributed to robust buying activity from foreign institutional investors, while domestic investors took some profits.

Speculations are on the rise over whether the Nifty Bank will achieve new highs, hingeing on HDFC Bank's performance results. Singhvi suggests adopting a 'buy on dips' strategy, pinpointing 21,925-22,025 and 47,725-47,850 as the prime entry levels for Nifty50 and Nifty Bank, respectively.

Existing positions should carry an intraday stop loss at 22,000 and a closing stop loss at 21,900 for Nifty, and similar stop losses at 48,000 for Nifty Bank. Conversely, existing short positions should place an intraday and closing stop loss at 22,150 for Nifty and 48,500 for Nifty Bank. For new buyers, Singhvi advises entry in the Nifty range of 21,925-22,025 with stop losses and targets outlined, while sellers should act below 21,875. Proposed buying and selling ranges for Nifty Bank are also provided with clear stop loss instructions and profit targets.

Stock Recommendations and F&O Updates

Singhvi also shares insights on stock-specific moves. PNC Infra is recommended for buying with specific stop loss and target guidelines following a significant asset sale. Indus Tower, spurred by an upgrade from JPMorgan, is also on the buy list, with precise targets aligned. Capri Global and Vedanta futures are likewise tipped for purchase, encouraged by their recent operational progress and ratings enhancement.

The article concludes with insights on the expected listing range for Jyoti CNC Automation shares, recommending a hold strategy for long-term investors with a stop loss defined.

Market, Strategy, Analysis