Anil Singhvi’s Strategy October 5: Day support zone on Nifty is 17,500-17,525 & Bank Nifty is 37,175-37,300

Amid negative global markets, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, October 5, 2021. 

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Equity benchmarks snapped their four-day losing streak on Monday, October 4, 2201, and closed nearly 1% higher. The S&P BSE Sensex rose 533.74 points or 0.91% to settle at 59,299.32. The Nifty 50 index rose 159.20 points or 0.91% to 17,691.25. Similarly, the Nifty 50 added 353.75 points or 0.95% to end at 37,579.65.

The broader markets also ended the day in the positive territory, with the S&P BSE Midcap and S&P BSE Smallcap indices rising 1.51% and 1.71%, respectively.     

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 5:

Trend to change Neutral only if Nifty closes below 17,275-17,350 range.

Day support zone on Nifty is 17,500-17,525, below that 17,375-17,450 is a strong Buy zone.

Day higher zone on Nifty is 17,700-17,750, above that 17,800-17,850 is a strong Sell zone.

Day support zone on Bank Nifty is 37,175-37,300, below that 36,850-37,000 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,575-37,675, above that 37,775-37,825 is a strong Sell zone.

The small day range for trading on Nifty is 17,500-17,700, while the medium and bigger day ranges are 17,450-17,750 and 17,375-17,800, respectively.

The small day range for trading on Bank Nifty is 37,250-37,575, while the medium and bigger day ranges are 37,075-37,675 and 36,850-37,775, respectively.

FIIs Index long decreased to 56% Vs 58%

PCR near oversold at 1.08 Vs 0.98, short-covering expected from lower levels

India VIX down by 3% at 16.74

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,500.

Bank Nifty Intraday and Closing stop loss are 37,000.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,750.

Bank Nifty Intraday and Closing stop loss are 37,600.

For New Positions:

Sell Nifty with a stop loss of 17,750 and target 17,575, 17,550, 17,500, 17,450, 17,400.

Buy Nifty in 17,450-17,525 range with a stop loss of 17,375 and target 17,575, 17,600, 17,700, 17,750.

For New Positions:

Sell Bank Nifty with a stop loss of 37,700 and target 37,325, 37,250, 37,175, 37,075, 36,925, 36,850.

Buy Bank Nifty in 36,850-37,075 range with a stop loss of 36,700 and target 37,225, 37,300, 37,400, 37,575, 37,675.

No Stock In F&O Ban