Anil Singhvi’s Strategy October 6: Day support zone on Nifty is 17,700-17,750 & Bank Nifty is 37,425-37,575

Amid positive global markets, future & options (F&O), sentiment, negative foreign institutional investors (FIIs) and neutral domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, October 6, 2021. 

Domestic equity markets ended with a gain of more than 0.70 per cent on Tuesday, October 5, 2021, amid mixed global cues. The Sensex reclaimed the 59,500-mark while the Nifty regains 17,800 level. The S&P BSE Sensex jumped 445.56 points or 0.75 per cent to 59,744.88. The Nifty 50 index added 131.05 points or 0.74 per cent to 17,822.30. The Bank Nifty index rose 161.35 points or 0.43 per cent to 37,741.

See Zee Business Live TV Streaming Below:

In the broader market at BSE, the Mid-Cap index gained 0.33 per cent and the Small-Cap index rose 0.54 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 6:

Day support zone on Nifty is 17,700-17,750, below that 17,575-17,650 is a strong Buy zone.

Day higher zone on Nifty is 17,900-17,950, above that 18,000-18,075 is a strong Profit booking zone.

Day support zone on Bank Nifty is 37,425-37,575, below that 37,250-37,325 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,925-38,100, above that 38,175-38,350 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,750-17,900, while the medium and bigger day ranges are 17,700-17,950 and 17,650-18,000, respectively.

The small day range for trading on Bank Nifty is 37,575-37,925, while the medium and bigger day ranges are 37,425-38,100 and 37,350-38,350, respectively.

FIIs Index long decreased to 54% Vs 56%.

PCR light and comfortable at 1.20 Vs 1.08.

India VIX down by 2% at 16.40.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,600.

Bank Nifty Intraday and Closing stop loss are 37,200.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,000.

Bank Nifty Intraday and Closing stop loss are 38,000.

For New Positions:

Buy Nifty with a stop loss of 17,600 and target 17,850, 17,900, 17,940, 17,990.

Sell Nifty in 17,900-17,950 range with a Strict stop loss of 18,050 and target 17,850, 17,825, 17,750, 17,700, 17,650.

For New Positions:

Buy Bank Nifty in 37,350-37,425 range with a stop loss of 37,200 and target 37,575, 37,675, 37,750, 37,825.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 37,550 and target 37,925, 38,100, 38,175, 38,350.

Sell Bank Nifty in 38,100-38,350 range with a stop loss of 38,500 and target 37,925, 37,825, 37,750, 37,600.

F&O Ban Update:

New In Ban: NALCO

Out Of Ban: Nil

Already In Ban: Nil