Anil Singhvi’s Strategy November 3: Day support zone on Nifty is 17835-17900 & Bank Nifty is 40775-40850

Amid negative global markets, negative domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), neutral futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, November 3, 2022.

Nifty support zone 17835-17900, Below that 17725-17800 Strong Buy zone

Nifty higher zone 18000-18075, Above that 18125-18175 Strong Sell zone

Bank Nifty support zone 40775-40850, Below that 40525-40650 Strong support zone

Bank Nifty higher zone 41200-41300, Above that 41425-41525 Strong Sell zone

Nifty support levels 17975, 17900, 17835, 17815, 17785, 17735

Nifty higher levels 18025, 18050, 18075, 18125, 18150, 18175

Bank Nifty support levels 41000, 40850, 40775, 40650, 40525, 40375

Bank Nifty higher levels 41100, 41175, 41300, 41425, 41475, 41525

- FIIs Index Long at 65% Vs 66%

- PCR at 1.13 Vs 1.31

- Bank Nifty PCR at 0.75 Vs 0.77

- India VIX up by 3% at 16.66

For Existing Long Positions:

Nifty Intraday STOP LOSS 17800 and Closing STOP LOSS 18000

Bank Nifty Intraday STOP LOSS 40775 and Closing STOP LOSS 40950

For Existing Short Positions:

Nifty Intraday and Closing STOP LOSS 18200

Bank Nifty Intraday and Closing STOP LOSS 41525

For New Positions:

Sell Nifty: STOP LOSS 18200 Target 17975, 17900, 17835, 17815, 17785, 17735

Buy Nifty in 17825-17900 range: STOP LOSS 17700 Target 17975, 18025, 18050, 18075, 18125, 18150

For New Positions :

Sell Bank Nifty: STOP LOSS 41525 Target 41000, 40850, 40775, 40650, 40525

Aggressive Traders Buy Bank Nifty in 40650-40800 range: Strict STOP LOSS 40500 Target 40900, 41025, 41100, 41150, 41200, 41300

F&O Ban Update:

New In Ban: LIC Housing Finance

Already In Ban: PNB

Out Of Ban: Nil

Global Health IPO Preview:

APPLY FOR LONG TERM

Positives:
Experienced and respected promoters
Strong financials
Strong growth outlook

Negatives:
High attrition rate
Focus on northern and eastern India only
Reasonable valuations

BIKAJI Foods IPO Preview:
APPLY FOR LONG TERM

Positives:
Strong brand
Experienced promoters
Impressive growth track record
Almost zero debt company

Negatives:
Margins not stable
Focus on northern India
Expensive valuations