Anil Singhvi’s Strategy October 31: Day support zone on Nifty is 17725-17775 & Bank Nifty is 41025-41125

Amid positive global markets, negative domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), neutral futures & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, October 31, 2022.

Nifty support zone 17800-17850, Below that 17725-17775 Strong Buy zone

Nifty higher zone 17975-18025, Above that 18075-18125 Strong Sell zone

Bank Nifty support zone 41025-41125, Below that 40850-41000 Strong Buy zone

Bank Nifty higher zone 41425-41525, Above that 41675-41825 Profit booking zone

Nifty support levels 17875, 17850, 17800, 17775, 17725

Nifty higher levels 17925, 17975, 18000, 18025, 18075, 18100, 18125

Bank Nifty support levels 41125, 41025, 40850, 40800, 40650

Bank Nifty higher levels 41175, 41300, 41450, 41525, 41675, 41825

- FIIs Index Long at 57% Vs 59%
- PCR at 1.12 Vs 1.10
- BankNifty PCR near oversold level at 0.71 Vs 0.99
- India VIX down by -4% at 15.92

For Existing Long Positions:

Nifty Intraday and Closing Stop Loss 17775

BankNifty Intraday Stop Loss 40800 and Closing Stop Loss 41000

For Existing Short Positions:

Nifty Intraday Stop Loss 18125 and Closing Stop Loss 18000

BankNifty Intraday and Closing Stop Loss 41550

For New Positions:

Buy Nifty: Stop Loss 17775 TARGET 17925, 17975, 18000, 18025, 18075, 18100, 18125

Aggressive Traders Sell Nifty in 18025-18125 range:

Strict Stop Loss 18200 Tgt 17975, 17925, 17875, 17850, 17800, 17775

For New Positions :

Buy BankNifty: Stop Loss 40800 TARGET 41175, 41300, 41450, 41525, 41675, 41825

Aggressive Traders Sell BankNifty 41525-41825 range:

Strict Stop Loss 41900 Tgt 41450, 41300, 41175, 41125, 41025

NO STOCK IN F&O BAN

DCX SYSTMES IPO Preview:

- Apply in this small size small price ipo

Positives:
- Promoters Have a clean image

- Strong orderbook and growth outlook

-  Attractive Valuationsआकर्षक वैल्युएशंस

Negatives:

- Trust on few customers

- Less stability on financial numbers