Nifty, Bank Nifty strategy today, October 18 by Anil Singhvi: Amid positive global cues and neutral 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 17,456 up by 141 points or 0.81 per cent. Dow Futures and Nasdaq Futures were quoting positive, up by nearly 0.55 per cent to 30395 and 0.68 per cent to 11186.25, respectively. Benchmark BSE Sensex rose by 491 points while Nifty settled above the 17,300 level on Monday on the back of buying in index majors Reliance Industries, ICICI Bank and recovery in global markets. Rising for a second session, the 30-share Sensex jumped 491.01 points or 0.85% to settle at 58,410.98. The index opened lower and fell to a low of 57,639.80 in early trade. However, it bounced back in late morning deals and hit rallied 529.03 points or 0.91% to touch a high of 58,449. The broader NSE Nifty climbed 126.10 points or 0.73% to end at 17,311.80, marking its second straight session of gains. In Asia, markets in Seoul, Shanghai and Hong Kong settled higher, while Tokyo ended lower. US stocks too kicked off the trading week on Monday. The S&P 500 gained 92.88 points, or 2.60 per cent, to 3,669.91 and the Nasdaq Composite added 232.05 points, or 2.23 per cent, to 10,649.15.

 

Given below is Anil Singhvi's strategy for Friday, October 18:  

 

 

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

Nifty support zone 17225-17275, Below that 17100-17175 Strong Buy zone

Nifty higher zone 17425-17475, Above that 17525-17575 Profit booking zone

Bank Nifty support zone 39550-39625, Below that 39100-39300 Strong Buy zone

Bank Nifty higher zone 40200-40350, Above that 40500-40625 Profit booking zone

Nifty support levels 17275, 17250, 17225, 17175, 17125, 17100

Nifty higher levels 17375, 17425, 17450, 17475, 17525, 17575

Bank Nifty support levels 39800, 39700, 39625, 39550, 39300, 39225, 39150

Bank Nifty higher levels 40075, 40200, 40275, 40350, 40500, 40625, 40700
 
FIIs Index Long changed at 24% Vs 23%
PCR at 1.11 Vs 0.91
BankNifty PCR near Over bought level at 1.39 Vs 0.81
India VIX up by 1% at 18.42

For Existing Long Positions:

Nifty Intraday SL 17150 n Closing SL 17000
BankNifty Intraday SL 39500 n Closing SL 39100

 
For Existing Short Positions:

Nifty Intraday n Closing SL 17525
BankNifty Intraday n Closing SL 40075

 
For New Positions:

Buy Nifty:
SL 17150 Tgt 17375, 17425, 17450, 17475, 17525, 17575
Sell Nifty in 17525-17575 range:
SL 17650 Tgt 17475, 17450, 17425, 17375, 17325, 17275, 17175

 
For New Positions :

 

Buy BankNifty:
SL 39500 Tgt 40075, 40200, 40275, 40350, 40500, 40625, 40700

Sell BankNifty in 40500-40700 range:
SL 40900 Tgt 40350, 40275, 40200, 40075, 39950, 39800, 39700, 39625 

 

F&O Ban Update:

Already In Ban: India Cement, Delta Corp, Indiabulls housing finance
New In Ban: Nil
Out Of Ban: Nil