NSE Nifty, Bank Nifty Strategy Today: From expiry date, FIIs, DIIs, PCR to VIX, Market Guru Anil Singhvi decodes impact
NSE Nifty, Bank Nifty Strategy Today: On Nifty and Bank Nifty strategy, Zee Business Managing Editor Anil Singhvi says global indicators are neutral. Meanwhile, the indicators around Foreign Institutional Investors (FIIs) have become neutral from positive. The indicators around Domestic Institutional Investors (DIIs) is actually negative, he explained
NSE Nifty, Bank Nifty Strategy Today: On Nifty and Bank Nifty strategy, Zee Business Managing Editor Anil Singhvi says global indicators are neutral. Meanwhile, the indicators around Foreign Institutional Investors (FIIs) have become neutral from positive. The indicators around Domestic Institutional Investors (DIIs) is actually negative, he explained.
On Wednesday, Zee Business had declared Futures and Options (F and O) market as being cautious, but this has now become positive on Thursday with an excellent Put-Call ratio. This has been the biggest change in the market sentiments, the Market Guru added.
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The overall sentiment is a bit on the cautious side, considering the Thursday expiry factor.
The Nifty Support zone for Thursday is in between 12,775 and 12, 825
The next support zone is 12,700 and 12,725, which is not likely to break easily
The upper range is in between 12.925 and 12,975. There are very less chances that the Nifty will settle above this range on the day of expiry
The range for profit booking is 13,050 and 13,125
The Nifty small range is 12,725 and 12,825
The Nifty medium range is 12,775 and 12,975
The Nifty long range is 12,725 and 13,050
For Bank Nifty
The Bank Nifty support zone for today is in between 28,650 and 28,900
The next support zone is 28,450 and 28,550
At the higher end the Bank Nifty resistance range is 29500 and 29,600
The profit booking range for Bank Nifty on Thursday is 29,750 and 29,900
The Bank Nifty small range is 29,050 and 29,500
The Bank Nifty medium range is 28,850 and 29,600
The Bank Nifty long range is 28,650 and 29,750
Role of FIIs and PCR on Thursday Trading
The Market Guru said that on the day of expiry, the long position has reduced in the index from 69 per cent to 64 per cent. He said that the data is a best indicator. In the entire series the, FIIs long position has not crossed the 75 per cent mark. At max, it has been around 72-73 per cent. Between 40-45 per cent they tend to increase their position while around 70 per cent the start reducing their positions. Over the last few trading sessions, they have reduced their positions, Singhvi said.
On PCR, the Managing Editor said that a 50bps correction in PCR is an excellent development. PCR is near its oversold position and has come down from 1.78 to 1.27. It has come down because of aggressive trader, he said.
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He however cautioned the investors on the issue of volatility (VIX) which has seen a 10 per cent jump.
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