Anil Singhvi strategy for January 20: Key market triggers, important support levels for Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects the Nifty50 benchmark to find support at 18,000-18,050 levels on January 20, below which, he sees a strong buy zone for the index in the 17,900-17,950 band. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, Singhvi expects support at 42,025-42,125 levels, and a strong buy zone at 41,725-41,875.

Here’s how Anil Singhvi sums up the market setup on January 20:

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

For the Nifty50, Anil Singhvi expects resitance to come in at 18,150-18,200, above which, he sees a strong sell zone at 18,250-18,300 levels.

Index	Support levels	Higher levels
Nifty50	18,050, 18,025, 18,000, 17,950, 17,900, 17,850	18,125, 18,150, 18,175, 18,200, 18,250, 18,275
Nifty Bank	42,225, 42,175, 42,125, 42,075, 42,025, 41,875, 41,775, 41,725	42,375, 42,450, 42,500, 42,575, 42,675, 42,725, 42,825

FIIs index long at 50 per cent vs 51 per cent the previous day
Put-call ratio (PCR) at 1.17 vs 1.35 the previous day
Bank Nifty PCR at 0.93 vs 1.06 the previous day
India VIX down three per cent at 13.96

Anil Singhvi market strategy

For existing long positions:

Nifty intraday stop loss at 18,000 and closing stop loss at 17,850
Bank Nifty intraday and closing stop loss at 42,000

For existing short positions:

Nifty intraday and closing stop loss at 18,200
Bank Nifty intraday and closing stop loss at 42,725

For new positions in Nifty:

Sell Nifty with a stop loss at 18300 for targets of 18,050, 18,025, 18,000, 17,975, 17,950, 17,900, 17,850
Buy Nifty in the 17,950-18,050 range with a stop loss at 17,850 for targets of 18,000, 18,025, 18,050, 18,100, 18,125, 18,150

For new positions in Nifty Bank:

Sell Nifty Bank with a stop loss at 42,750 for targets of 42,225, 42,175, 42,125, 42,075, 42,025, 41,875, 41,825, 41,725
Buy Nifty Bank in the 41,875-42,025 range with a stop loss at 41,700 for targets of 42,125, 42,175, 42,225, 42,300, 42,375, 42,450, 42,550

F&O ban