Anil Singhvi Market Strategy (October 8): 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 25,000-25,075 levels and a stronger support zone at 24,835-24,950 levels on Wednesday, October 8.

For the Nifty Bank, the market wizard expects support at 56,000-56,100 levels and a strong buy zone at 55,725-55,875 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 unchanged at 7 per cent as before Tuesday's session

• Nifty put-call ratio (PCR) at 1.04 vs 1.33

• Nifty Bank PCR at 1.11 vs 1.13

• Volatility index India VIX down 1.4 per cent at 10.05

The market wizard expects a higher zone at 25,150-25,225 levels and a profit-booking zone at 25,275-25,425 levels for the headline index.

For the banking index, he expects a higher zone at 56,500-56,700 levels and a profit-booking zone at 56,850-56,975 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 55,900

For existing short positions:

• Nifty intraday and closing stop loss at 25,275

• Nifty Bank intraday and closing stop loss at 56,575

For new positions in Nifty50:

• Aggressive traders can buy Nifty in the 24,950-25,075 range with a strict stop loss at 24,825 for targets of 25,115, 25,150, 25,225, 25,275 and 25,325
• Aggressive traders can sell Nifty in the 25,225-25,350 range with a strict stop loss at 25,450 for targets of 25,175, 25,115, 25,075, 25,025, 24,975 and 24,900

• Aggressive traders can buy Nifty Bank at 56,025-56,100 with a strict stop loss at 55,900 for targets of 56,225, 56,400, 56,500, 56,575, 56,700 and 56,850
• Aggressive Traders can sell Nifty Bank in 56,500-56,700 range with a strict stop loss at 56,800 for targets of 56,400, 56,250, 56,150, 56,100, 56,025 and 55,900

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