Anil Singhvi Market Strategy (October 9): 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 24,900-25,000 levels and a strong buy zone at 24,750-24,865 levels on Thursday, October 9.

For the Nifty Bank, the market wizard expects support at 55,600-55,825 levels and a strong buy zone at 55,275-55,400 levels.

How market guru Anil Singhvi sums up trade setup:

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• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

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

• Nifty put-call ratio (PCR) at 0.80 vs 1.03

• Nifty Bank PCR at 1.05 vs 1.11

• Volatility index India VIX up 2.5 per cent at 10.31

The market wizard expects a higher zone at 25,100-25,200 levels and a strong sell zone at 25,225-25,350 levels for the headline index.

For the banking index, he expects a higher zone at 56,150-56,300 levels and a strong sell zone at 56,500-56,700 levels.​

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

For existing long positions:

• Nifty intraday and closing stop loss at 24,950

• Nifty Bank intraday and closing stop loss at 55,550

For existing short positions:

• Nifty intraday and closing stop loss at 25,225

• Nifty Bank intraday and closing stop loss at 56,560

For new positions in Nifty50:

• The best range to buy Nifty is 24,750-24,900 with a stop loss at 24,600 for targets of 24,975, 25,000, 25,050, 25,100, 25,150 and 25,200
• Aggressive traders can buy Nifty with a strict stop loss at 24,900 for targets of 25,100, 25,150, 25,200, 25,225, 25,275 and 25,325
• Aggressive traders can sell Nifty in the 25,100-25,200 range with a strict stop loss at 25,250 for targets of 25,050, 25,000, 24,950, 24,900, 24,865 and 24,835

• Aggressive traders can buy Nifty Bank in the 55,600-55,825 range with a strict stop loss at 55,500 for targets of 55,975, 56,100, 56,150, 56,250, 56,300 and 56,500
• Aggressive traders can sell Nifty Bank in the 56,250-56,500 range with a strict stop loss at 56,600 for targets of 56,150, 56,025, 55,825, 55,725, 55,600 and 55,400

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