Anil Singhvi strategy today, October 12: Check Nifty and Bank Nifty support and buy levels

Anil Singhvi strategy today, October 12: Amid neutral global cues and negative FIIs and positive DIIs activities, the short term trend for the Indian stock market is positive, according to Zee Business Managing Editor Anil Singhvi. At 8:00 am, SGX Nifty was trading at 16,970, up by 30 points or 0.18 per cent. Dow Futures and Nasdaq Futures were also quoting positive, up by nearly 0.14 per cent to 29,308 and 0.23 per cent to 10,870, respectively. Earlier on Tuesday, the BSE Sensex had slumped over 800 points or 1.46 per cent to end at 57,147.32. Likewise, Nifty50 finished lower at 16,983 after falling 257 points or 1.49 per cent. Meanwhile, the S&P 500 and Nasdaq ended lower on Tuesday, with indications from the Bank of England that it would support the country's bond market for just three more days adding to market jitters late in the session. The S&P 500 cracked 23.65 points or 0.65% to end at 3,588.74 and the Nasdaq Composite declined 115.91 points or 1.1% to finish at 10,426.19. Dow Jones ended marginally up at 29,239.

Given below is Anil Singhvi's strategy for Monday, October 12:  

Global: Neutral
FII:  Negative
DII: Positive
F&O: Positive
Sentiment: Cautious
Trend: Positive  

Nifty support zone 16900-16950, Below that 16750-16850 Strong Buy zone

Nifty higher zone 17075-17125, Above that 17175-17275 Profit booking zone

Bank Nifty support zone 38500-38625, Below that 38200-38375 Strong Buy zone

Bank Nifty higher zone 38950-39100, Above that 39175-39300 Profit booking zone

Nifty support levels 16950, 16900, 16850, 16825, 17775, 16750

Nifty higher levels 17025, 17075, 17125, 17175, 17225, 17250, 17275

Bank Nifty support levels 38625, 38500, 38375, 38300, 38200, 38025

Bank Nifty higher levels 38800, 38950, 39100, 39175, 39225, 39300, 39550

FIIs Index Long still near lowest level at 15% Vs 18%
PCR light and comfortable at 0.72 Vs 1.05
BankNifty PCR at 0.72 Vs 0.99 
India VIX up by 5% at 20.49
For Existing Long Positions:

Nifty Intraday SL 16900 n Closing SL 16800
BankNifty Intraday SL 38475 n Closing SL 38600

For Existing Short Positions:

Nifty Intraday SL 17125 n Closing SL 17275        
BankNifty Intraday SL 39000 n Closing SL 39300
For New Positions:

Buy Nifty in 16850-16950 range:
SL 16750 Tgt 17000, 17025, 17075, 17125, 17175, 17225, 17250

Sell Nifty in 17175-17275 range:
SL 17350 Tgt 17125, 17075, 17025, 17000, 16950, 16900, 16850

For New Positions:

Aggressive Traders Buy BankNifty in 38500-38625 range:
Strict SL 38300 Tgt 38725, 38800, 38950, 39100, 39175, 39225, 39300

Sell BankNifty in 39100-39300 range:
SL 39350 Tgt 38950, 38825, 38725, 38625, 38500, 38375

F&O Ban Update:
New In Ban: Delta Corp
Already In Ban: India Cements, Indiabulls housing finance
Out Of Ban: Nil