Revealed! Anil Singhvi maps out Nifty, Bank Nifty strategy for a profitable outing

Anil Singhvi Stock Market Tips: On account of Wall Street indices trading tepid and Put Call Ratio (PCR) not giving any further comfort, Zee Business Managing Editor Anil Singhvi has unveiled a trade strategy that will help traders make money in both F&O and cash segments. The Market Guru said that the NSE Nifty is having strong support at 11,100 to 11,175 while it has equally strong resistance at 11,300 to 11,375 mark. He said that PCR at 1.5 is not giving that much of comfort that it was giving at 1.30 to 1.35 levels. He advised F&O traders to strictly maintain stop loss at 11,150 in Nifty Future and 21,275 in Bank Nifty Future positions.

Speaking on the range that one must remember on NSE Nifty and Bank Nifty, Singhvi said, "Day support zone for NSE Nifty is 11,100 to 11,175 and the higher range for the 50-stocks index is 11,300 to 11,375. The small day range for Nifty is 11,200 to 11,300, while the medium and bigger ranges are 11,175 to 11,325 and 11,125 to 11,375 respectively. Similarly, for Bank Nifty, day support zone is 21,375 to 21,500, below that 21,000 to 21,100 is strong buy zone and 21,900 to 22,075 is day higher range where profit-booking is recommended."

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Singhvi said that Put-Call Ratio (PCR) is at 1.5 while India Volatility Index (VIX) is 2 per cent down at 21.31 and therefore, he said, "I would advise F&O traders to maintain safer stop-loss at 11,150 in Nifty Futures while for Bank Nifty Future positions, maintain a safer stop-loss at 21,375.

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However, for those who want a smaller stop-loss, Singhvi said that they can maintain it at 11,200 in Nifty Future positions while in Bank Nifty Futures, smaller stop loss can be 21,500.