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
- Already in ban: Delta Corp, Manappuram Finance, L&T Finance, GNFC
- New in ban: None
- Out of ban: None
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