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Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 23,800-23,870 levels and a strong buy zone at 23,550-23,700 levels on Monday, April 28. For the Nifty Bank, Singhvi expects support at 54,175-54,300 levels and a stronger support zone at 53,400-53,600 levels. Read on to learn about the market wizard's views for the day. 

Global: Positive

FII: Positive

DII: Positive

F&O: Neutral

Sentiment: Cautious

Trend: Positive

FII long positions at 38 per cent vs 41 per cent before Friday's session

Nifty put-call ratio (PCR) at 0.87 vs 1.03

Nifty Bank PCR at 1.03 vs 1.15

Volatility index India VIX up 5.5 per cent at 17.16

The market wizard sees a higher zone at 24,175-24,300 levels and a profit-booking zone at 24,350-24,500 levels for the headline index.

For the banking index, he sees a higher zone at 55,000-55,200 levels and a profit-booking zone at 55,250-55,450 levels. 

For existing long positions: 

For existing short positions:

For new positions in Nifty50:

Aggressive traders can buy Nifty with a strict stop loss at 23,800 for targets of 24,125, 24,175, 24,250, 24,300, 24,325 and 24,350

Aggressive traders can sell Nifty in the 24,250-24,350 range with a strict stop loss at 24,400 for targets of 24,175, 24,125, 24,075, 24,000, 23,900 and 23,850

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 54,175-54,300 range with a strict stop loss at 53,950 for targets of 54,450, 54,650, 54,950, 55,150, 55,250 and 55,350

The best range to sell Nifty Bank is 55,175-55,375 with a stop loss at 55,550 for targets of 55,075, 54,675, 54,475, 54,400, 54,300 and 54,175

No stock in F&O ban

EARNINGS REVIEWS

RBL Bank 

Pathetic results

Higher provisioning in the microfinance business

Slippages being only at 4.7% is a positive surprise

Now, it’s a 'buy' as stress stabilises due to the normalisation of its loan portfolio

The stock trades at an attractive valuation of Rs 0.7 BV

Buy at lower levels; don’t sell at all

Buy RBL Bank futures near the Rs 181-183 range with a stop loss at Rs 178 for targets of Rs 188, Rs 194 and Rs 199

IDFC First Bank

IGL Futures:

Weak results

6% EBITDA miss

Results below expectations on both volume and margins

Support levels 167 & 170, Higher levels 182 & 184

OFSS Futures:

Mixed results

Revenue growth not impressive but strong operational performance

Stock ran 9% in one month

Support level 8280, Higher level 8940

Sell Poonawala Fincorp Futures:

stop loss at 387 for targets of 365, 355

Results below expectations

Stock ran 20% in three months, profit booking expected

L&T Finance Futures:

Mixed results

Nothing great nothing bad

Support levels 163 & 161, Higher levels 176 & 179

Sell Tata Tech Futures:

stop loss at 709 for targets of 671, 663

Extremely weak results on all parameters

Support levels, Higher levels

STOCK OF THE DAY: INDUS TOWERS

Buy Indus Tower Futures: stop loss at 387 for targets of 405, 410, 416

Board meeting on 30th April to consider bonus and buyback

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