Anil Singhvi strategy November 13: 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. 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 sees support for the headline Nifty index emerging at 19,445-19,515 levels and a strong buy zone at 19,375-19,425 levels on Monday, November 13. For the Nifty Bank, he expects support at 43,800-43,925 levels and a strong buy zone at 43,550-43,700 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Neutral
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Positive
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Trend: Neutral
Singhvi expects a higher zone for the Nifty50 at 19,550-19,600 levels and a profit-booking zone at 19,625-19,700 levels. For the banking index, he sees a higher zone coming in at 44,050-44,200 levels and a profit-booking zone at 44,275-44,400 levels.
ANIL SINGHVI MARKET STRATEGY
Singhvi suggests adopting a 'buy on dips' strategy at key support levels amid mildly weak signals from global markets. He expects strong support for the Nifty and the Nifty Bank coming in at 19,325-19,425 and 43,550-43,700 levels, and sees resistance emerging at 19,600-19,725 and 44,400-44,600 levels, respectively.
The market wizard expects the market to strengthen further after the indices close above the 19,500 and 44,000 levels, respectively.
- FII index long positions unchanged at 18 per cent as the previous day
- Nifty put-call ratio (PCR) at 1.15 vs 1.04
- Nifty Bank PCR at 1.03 vs 1.01
- India VIX up about two per cent at 11.35
For existing long positions:
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Nifty intraday and closing stop loss at 19,375
Nifty Bank intraday and closing stop loss at 43,550
For existing short positions:
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Nifty intraday and closing stop loss at 19,600
Nifty Bank intraday and closing stop loss at 44,200
For new positions in Nifty:
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The best range to buy Nifty is 19,400-19,465 with a stop loss at 19,300 for targets of 19,500, 19,525, 19,550, 19,600, 19,625 and 19,650
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Sell Nifty in the 19,600-19,675 range with a stop loss at 19,750 for targets of 19,550, 19,525, 19,465, 19,445, 19,425 and 19,400
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 43,700-43,875 with a stop loss at 43,550 for targets of 43,975, 44,050, 44,200, 44,275, 44,350 and 44,400
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Aggressive traders can sell Nifty Bank in the 44,200-44,400 range with a stop loss at 44,500 for targets of 44,050, 44,000, 43,925, 43,800, 43,750 and 43,650
F&O ban update
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Already in ban: Chambal Fertilisers, Delta Corp, GNFC, Manappuram Finance, MCX, Zee Entertainment
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New in ban: None
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Out of ban: None
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09:37 AM IST