: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,200-23,275 levels and a strong buy zone at 23,100-23,175 levels for the headline Nifty50 index on Tuesday, January 21. For the Nifty Bank, he expects support at 49,000-49,075 levels and a strong buy zone at 48,550-48,750 levels. 

The market wizard views the 23,400-23,500 band as the final resistance preventing a breakout in the headline index. As soon as FII selling stops, the Nifty looks ready for a breakout with strong support at 23,175-23,275 levels, but a closing below 23,150 will lead to further weakness, he says. 

He expects very strong support for the Nifty Bank at 48,550-48,750 levels and believes the banking index may attempt to extend an upmove all the way till 49,750-49,950 levels. 

The market wizard sees a higher zone at 23,400-23,500 levels and a strong sell zone at 23,525-23,675 levels for the headline index.  

For the banking index, he sees a higher zone at 49,650-49,825 levels and a strong sell zone at 49,950-50,200 levels.  

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L&T Finance

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