Anil Singhvi Market Strategy (October 10): How to trade Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 25,000-25,100 levels and a strong buy zone at 24,835-24,900 levels on Friday, October 10.

For the Nifty Bank, the market wizard expects support at 55,850-56,000 levels and a strong buy zone at 55,600-55,725 levels.

How market guru Anil Singhvi sums up trade setup:

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• Global: Neutral

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Neutral

• FII long positions at 7 per cent vs 8 per cent before Thursday's session

• Nifty put-call ratio (PCR) at 1.06 vs 0.80

• Nifty Bank PCR at 1.08 vs 1.05

• Volatility index India VIX down 2 per cent at 10.12

The market wizard expects a higher zone at 25,225-25,325 levels and profit-booking zone at 25,350-25,450 levels for the headline index.

For the banking index, he expects a higher zone at 56,300-56,500 levels and a profit-booking zone at 56,575-56,700 levels.​

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions:

• Nifty intraday and closing stop loss at 24,975

• Nifty Bank intraday stop loss at 55,800 and closing stop loss at 55,575

For existing short positions:

• Nifty intraday and closing stop loss at 25,250

• Nifty Bank intraday and closing stop loss at 56,550

For new positions in Nifty50:

• The best range to buy Nifty is 25,000-25,115 with a stop loss at 24,950 for targets of 25,175, 25,200, 25,275, 25,325, 25,425 and 25,450
• Sell Nifty only if it gives up 25,000, with a stop loss at 25,200 for targets of 24,900, 24,865, 24,835, 24,800 and 24,750

• The best range to buy Nifty Bank is 55,825-56,025 with a stop loss at 55,600 for targets of 56,100, 56,150, 56,200, 56,275, 56,400 and 56,500
• Aggressive traders can buy Nifty Bank with a strict stop loss at 55,800 for targets of 56,300, 56,500, 56,575, 56,700, 56,850 and 56,975
• Aggressive traders can sell Nifty Bank in the 56,500-56,700 range with a strict stop loss at 56,800 for targets of 56,300, 56,200, 56,150, 56,100, 56,025 and 55,850

• ​Already in ban: RBL Bank
• Out of ban: None
• New in ban: None