Anil Singhvi Market Strategy November 5: 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. Learn more about 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 23,675-23,800 levels and a strong buy zone at 23,500-23,625 levels on Tuesday, November 5. For the Nifty Bank, he expects support at 50,800-51,000 levels and a strong buy zone at 50,200-50,375 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: Negative
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FII long positions at 24 per cent vs 23 per cent before the previous session
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Nifty put-call ratio (PCR) at 0.85 vs 1.07Nifty Bank PCR at 0.71 vs 0.69
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Volatility index India VIX up 5 per cent at 16.69
The market wizard sees a higher zone for the headline index at 24,075-24,200 levels and a strong sell zone at 24,275-24,400 levels.
For the banking index, he sees a higher zone at 51,475-51,675 levels and a strong sell zone at 51,750-51,900 levels.
Special Coverage, Special Occasion!
Market guru Singhvi is leading a special coverage from the offices of BSE in Mumbai in light of Zee Business achieving a record viewership with a market share of 77.4 per cent. He will also participate in a special bell-ringing ceremony 45 minutes into the opening bell, at 10 am, to commemorate the milestone. Read more
MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 23,800
- Nifty Bank intraday and closing stop loss at 51,000
For existing short positions:
- Nifty intraday and closing stop loss at 24,325
- Nifty Bank intraday and closing stop loss at 51,825
For new positions in Nifty50:
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The best range to sell Nifty is 24,175-24,300 with a stop loss at 24,400 for targets of 24,075, 24,000, 23,900, 23,825, 23,750 and 23,675
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Aggressive traders can buy Nifty in the 23,625-23,800 range with a strict stop loss at 23,500 for targets of 24,000, 24,075, 24,135, 24,175, 24,200, 24,275 and 24,300
For new positions in Nifty Bank:
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The best range to sell Nifty Bank is 51,675-51,825 with a stop loss at 52,000 for targets of 51,525, 51,325, 51,225, 51,100, 51,000 and 50,800
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Aggressive traders can buy Nifty Bank in the 50,200-50,375 range with a strict stop loss at 50,000 for targets of 50,750, 50,975, 51,075, 51,200, 51,325, 51,475 and 51,675
No stocks in F&O ban
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