Anil Singhvi’s Strategy October 11: Day support zone on Nifty is 17,800-17,850 & Bank Nifty is 37,525-37,650

Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), future & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, October 11, 2021. 

The domestic stock market ended with strong gains on Friday, October 8, 2021, after the Reserve Bank of India's Monetary Policy Committee decided to maintain its status quo on the interest rate. The S&P BSE Sensex advanced 381.23 points, or 0.64 per cent, to 60,059.06. The Nifty 50 index added 104.85 points, or 0.59 per cent, to 17,895.20. The Nifty Bank remained almost flat and added just 22.05 points, or 0.06 per cent, to close at 37,775.25.

In the broader markets, the BSE MidCap index ended 0.15 per cent higher and the BSE SmallCap index added 0.83 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 11:

The Day support zone on Nifty is 17,800-17,850, below that 17,700-17,750 is a strong Buy zone.

Day higher zone on Nifty is 17,900-17,940, above that 18,000-18,075 is a strong Profit booking zone.

The Day support zone on Bank Nifty is 37,525-37,650, Below that 37,325-37,450 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,925-38,100, above that 38,175-38,350 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,840-17,940, while the medium and bigger day ranges are 17,800-18,000 and 17,750-18,075, respectively.

See Zee Business Live TV Streaming Below:

The small day range for trading on Bank Nifty is 37,650-37,925, while the medium and bigger day ranges are 37,525-38,100 and 37,425-38,350, respectively.

FIIs Index long unchanged at 59%

PCR at 1.30 Vs 1.29

India VIX up down 3% at 15.65

For Existing Long Positions:

Nifty Intraday stop loss is 17,750 and Closing stop loss is 17,600.

Bank Nifty Intraday stop loss is 37,300 and Closing stop loss is 37,400.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,000.

Bank Nifty Intraday stop loss is 38,200 and Closing stop loss is 37,850.

For New Positions:

Aggressive Traders Buy Nifty with a Strict stop loss of 17,750 and target 17,940, 17,985, 18,025, 18,075.

Buy Nifty in 17,750-17,800 range with a stop loss of 17,650 and target 17,840, 17,890, 17,940.

Aggressive Traders Sell Nifty in 17,940-18,000 range with a Strict stop loss of 18,100 and target 17,900, 17,850, 17,800, 17,750.

For New Positions:

Aggressive Traders Buy Bank Nifty with a stop loss of 37,500 and target 37,925, 38,100, 38,175, 38,350.

Buy Bank Nifty in 37,425-37,575 range with a stop loss of 37,300 and target 37,650, 37,750, 37,825, 37,925, 38,100.

Sell Bank Nifty in 38,100-38,350 range with a stop loss of 38,500 and target 37,925, 37,825, 37,775, 37,675, 37,575, 37,525.

Aggressive Traders Sell Bank Nifty in 37,900-38,100 range with a stop loss of 38,200 and target 37,775, 37,675, 37,575, 37,525, 37,450.

F&O Ban Update:

2 Stocks New In Ban: IRCTC, Sun TV

5 Already In Ban: Indiabulls Housing Finance, PNB, SAIL, Canara Bank, NALCO

Out Of Ban: Nil

Aditya Birla Sun Life AMC Listing Preview:

Expected to list in 725-775 range.

Long Term Investors can HOLD.

(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)