Anil Singhvi’s Strategy November 2: Day support zone on Nifty is 17900-17975 & Bank Nifty is 41000-41125

Amid neutral global markets, negative domestic institutional investors (DIIs), positive 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 Wednesday, November 2, 2022.

Nifty support zone 18000-18075, Below that 17900-17975 Strong Buy zone

Nifty higher zone 18175-18225, Above that 18265-18350 Profit booking zone

Bank Nifty support zone 41000-41125, Below that 40775-40850 Strong Buy zone

Bank Nifty higher zone 41475-41525, Above that 41675-41825 Profit booking zone

Nifty support levels 18125, 18075, 18050, 18000, 17975, 17900, 17850

Nifty higher levels 18175, 18200, 18265, 18300, 18350

Bank Nifty support levels 41175, 41100, 41025, 40850, 40775, 40650

Bank Nifty higher levels 41425, 41475, 41525, 41675, 41825

- FIIs Index Long at 66% Vs 63%

- PCR at 1.31 Vs 1.32

- Bank Nifty PCR at 0.77 Vs 0.93

- India VIX up by 2% at 16.13

For Existing Long Positions:

Nifty Intraday and Closing STOP LOSS 17975

Bank Nifty Intraday and Closing STOP LOSS 40950

For Existing Short Positions:

Nifty Intraday and Closing STOP LOSS 18225

Bank Nifty Intraday STOP LOSS 41700 and Closing STOP LOSS 41525

For New Positions:

Buy Nifty in 18000-18075 range:

STOP LOSS 17900 Target 18125, 18150, 18175, 18200, 18265, 18350

Sell Nifty in 18200-18300 range:
STOP LOSS 18350 Target 18175, 18150, 18125, 18075, 18025, 18000

For New Positions :

Buy Bank Nifty in 41000-41125 range: STOP LOSS 40775 Target 41200, 41300, 41425, 41475, 41525, 41675

Sell Bank Nifty in 41500-41675 range: STOP LOSS 41850 Target 41425, 41300, 41200, 41125, 41025

F&O Ban Update:

New In Ban: PNB

Out Of Ban: Nil

Already In Ban: Nil

Fusion Micro Finance IPO Preview:
APPLY FOR LONG TERM

Positives:
Experienced and clean promoters
Strong growth outlook
Strong financials

Negatives:
Highly competitive and regulated Business
Valuations reasonable not very attractive