Stock Market Outlook: Anil Singhvi sets intraday target for Nifty, Bank Nifty, says soon to get NEW LIFE HIGH
Expecting the market to soar further, Zee Business Managing Editor Anil Singhvi in his market strategy predicts the global sentiment is positive, while trend and sentiment are extremely positive, however, the foreign and local funds are negative whereas Futures neutral for today’s trade.
Expecting the market to soar further, Zee Business Managing Editor Anil Singhvi in his market strategy predicts the global sentiment is positive, while trend and sentiment are extremely positive, however, the foreign and local funds are negative whereas Futures neutral for today’s trade.
Singhvi said, the FIIs data so far have been unchanged its Index long position is at 60 per cent from 61 per cent, VIX is unchanged and PCR (put-call ratio) is down by eight points.
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He suggested, Nifty 15110-15140 would be strong support for today’s session and the chances of benchmark index breaking below this are very low. He also suggested, 15110-15050 is a strong buying range too with 15250-15310 as an upper range and 15375-15425 would be profit booking range.
Nifty is trading very close to its life high level of 15341, which was hit on February 15, 2021. Singhvi said, “If Nifty touches its previous lifetime high, then chances of it growing is huge and it will definitely boost the market.”
अनिल सिंघवी की निफ्टी और बैंक निफ्टी पर परफेक्ट स्ट्रैटेजी#MarketStrategy #Nifty #BankNifty @AnilSinghvi_ pic.twitter.com/86JRkyr3su
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For Bank Nifty, Singhvi said, the immediate support would be 34525-34700 levels today. He added, it’s unlikely the Index to go down, whereas academically the buying zone would be 34150-34300, the upper range of the index would be 35275-35500 and the profit booking range to be around 35575-35800.
For today, Nifty would trade around 15140-15250 in short-range, 15110-15310 in mid-range, and 15050-15400 in a long-range. Whereas, the Bank Nifty will trade around 34600-35275 in short-range, 34525-35425 in mid-range and 34300-35575 in long-range during today’s trade.
Singhvi sets the new position for Nifty, with a buying for levels at 15250, 15310, 15350, 15400 and stop-loss 15100, similarly, for Bank Nifty target is 35200, 35275, 35425, 35500, 35575, 35750, 35800 with a visible upside, whereas 35750-35800 is a perfect spot for short.
Singhvi said, there is no wiseness to be short with Nifty levels, when it’s already trading around life high mark, however, he suggests, aggressive traders can sell around 15400 levels, 15450 strict stop loss with a target of 15250, 15200, 15175, 15150.
For aggressive traders of Bank Nifty, the levels should be around 35425-35750 range sell with a stop loss of 35850.
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12:39 PM IST