Anil Singhvi’s Strategy October 1: Day support zone on Nifty is 17,400-17,440 & Bank Nifty is 36,950-37,150
Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), positive future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, October 1, 2021.
Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), positive future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, October 1, 2021.
Equity indices extending their losing streak to a third trading session and ended at the day's low on Thursday, September 30, 2021. The S&P BSE Sensex closed 286.91 points or 0.48 per cent down at 59,126.36. The Nifty 50 index ended 93.15 points or 0.53 per cent lower at 17,618.15. The Bank Nifty dropped 317.90 points or 0.84 per cent to 37,425.10.
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The broader markets outperformed the Sensex with S&P BSE MidCap and S&P BSE SmallCap closed 0.33 per cent and 0.56 per cent higher, respectively.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 1:
The trend will change from Positive to Neutral if closes below the 17,325-17,400 range.
Day support zone on Nifty is 17,400-17,440, below that 17,275-17,350 is a strong Buy zone.
Day higher zone on Nifty is 17,575-17,625, above that 17,700-17,750 is a strong Sell zone.
Day support zone on Bank Nifty is 36,950-37,150, below that 36,675-36,850 is a strong Buy zone.
Day higher zone on Bank Nifty is 37,425-37,675, above that 37,750-37,900 is a strong Sell zone.
The small day range for trading on Nifty is 17,440-17,600 Small Day Range, while the medium and bigger day ranges are 17,375-17,700 and 17,325-17,750, respectively.
The small day range for trading on Bank Nifty is 37,000-37,400, while the medium and bigger day ranges are 36,850-37,675 and 36,675-37,775, respectively.
FIIs Index long increased to 57% Vs 49%.
PCR near the oversold level at 1.03 Vs 0.94.
India VIX down by 2% at 18.40.
For Existing Long Positions:
Nifty Intraday stop loss is 17,500 and Closing stop loss is 17,400.
Bank Nifty Intraday stop loss is 37,000 and Closing stop loss is 36,850.
For Existing Short Positions:
Nifty Intraday and Closing stop loss are 17,750.
Bank Nifty Intraday and Closing stop loss are 37,800.
For New Positions:
Sell Nifty with a stop loss of 17,750 and target 17,500, 17,440, 17,400, 17,350.
Buy Nifty in 17,325-17,400 range with a stop loss of 17,275 and target 17,500, 17,550, 17,600, 17,625.
For New Positions:
Sell Bank Nifty with a stop loss of 37,550 and target 37,150, 37,075, 36,950, 36,850, 36,675, 36,550.
Buy Bank Nifty in 36675-36850 range with a stop loss of 36,500 and target 36,950, 37,075, 37,150, 37,250, 37,325, 37,400.
F&O Ban Update:
Out of Ban: Sun TV
New In Ban: Nil
Already In Ban: Nil
Stock Of The Day:
Buy Rain Industries: Stop loss 235 and target 250, 260, 265, 300. CPC price increased 33% in September in International Market.
Paras Defence Listing Preview: Expected to list between 400-450 range against issue price of 175. Keep Stoploss of 350.
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08:45 AM IST