Anil Singhvi Market Strategy October 4: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 25,000-25,150 levels and a strong buy zone at 24,750-24,925 levels on Friday, October 4. For the Nifty Bank, he expects support to come in 51,125-51,275 levels and a strong buy zone at 50,375-50,575 levels.
Here's how the market guru sums up the trade setup this morning:
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Global: Negative
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Negative
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Trend: Neutral
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FII long positions at 66 per cent now vs 79 per cent a day ago
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Nifty put-call ratio (PCR) at 0.88 vs 0.83
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Nifty Bank PCR at 0.70 vs 0.78
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India VIX up 10 per cent at 13.17
The market wizard sees a higher zone for the headline index at 25,300-25,425 levels and a strong sell zone at 25,475-25,625 levels. For the banking index, he expects a higher zone at 52,075-52,275 levels and a strong sell zone at 52,425-52,575 levels.
ALSO READ: Market veteran Ajay Bagga explains 5 things hurting D-Street sentiment
MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 25,000
- Nifty Bank intraday stop loss at 51,650 and closing stop loss at 51,750
For existing short positions:
- Nifty intraday and closing stop loss at 25,650
- Nifty Bank intraday and closing stop loss at 52,600
For new positions in Nifty50:
- Aggressive traders can sell Nifty with a strict stop loss at 25,400 for targets of 25,150, 25,075, 25,050, 25,000, 24,925 and 24,850
- The best range to buy Nifty is 24,750-24,850 with a stop loss at 24,700 for targets of 24,925, 25,000, 25,050, 25,075, 25,150 and 25,225
- Aggressive traders can buy Nifty in the 24,925-25,075 range with a strict stop loss at 24,750 for targets of 25,150, 25,200, 25,250, 25,300, 25,375 and 25,425
For new positions in Nifty Bank:
- Aggressive traders can sell Nifty Bank with a strict stop loss at 52,200 for targets of 51,700, 51,575, 51,500, 51,275, 51,125 and 51,000; the best range to buy Nifty Bank is 50,375-50,575 with a stop loss at 50,300 for targets of 50,700, 50,850, 51,000, 51,125, 51,275 and 51,475
- Aggressive traders can buy Nifty Bank in the 51,125-51,275 range with a strict stop loss at 51,000 for targets of 51,375, 51,500, 51,575, 51,675, 51,850 and 51,950
Stocks in F&O ban
- New in ban: Granules India, Manappuram Finance
- Already in ban: Birlasoft, Hindustan Copper, RBL Bank, Bandhan Bank
- Out of ban: None
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