Nifty, Bank Nifty strategy today, October 20 by Anil Singhvi: Check buy, stop loss and support levels

Nifty, Bank Nifty strategy today, October 20 by Anil Singhvi: Amid negative 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 17,393 down by 111 points or 0.63 per cent. The 30-share BSE Sensex rose by 146.59 points or 0.25 per cent to settle at 59,107.19 even as 11 of its constituents gained while 19 declined. During the day, it rallied 439.09 points or 0.74 per cent to 59,399.69. The broader NSE Nifty advanced 25.30 points or 0.14 per cent to end at 17,512.25 with 18 of its stocks ending higher and 32 closing lower. The S&P 500 fell 0.67 per cent. The Dow Jones Industrial Average fell 0.33 per cent and the Nasdaq Composite shed 0.85 per cent. Asian shares too traded lower on Thursday. While Hong Kong’s Hang Seng index fell 2 per cent in early trade, Japan’s Nikkei 225 lost 0.98 per cent. South Korea’s Kospi dipped 0.78 per cent. 

Anil Singhvi's strategy for Thursday, October 20:  

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

Nifty support zone 17275-17350, Below that 17175-17250 Strong Buy zone

Nifty higher zone 17475-17525, Above that 17575-17650 Profit booking zone

Bank Nifty support zone 39950-40150, Below that 39500-39625 Strong Buy zone

Bank Nifty higher zone 40325-40425, Above that 40500-40650 Profit booking zone

Nifty support levels 17425, 17375, 17325, 17300, 17275, 17250, 17175

Nifty higher levels 17475, 17525, 17575, 17600, 17650

Bank Nifty support levels 40150, 40075, 39950, 39800, 39625, 39525, 39300 

Bank Nifty higher levels 40325, 40375, 40425, 40500, 40625, 40700
FIIs Index Long unchanged at 30%
PCR at 1.13 Vs 1.19
BankNifty PCR at 1.06 Vs 1.19
India VIX unchanged at 17.49

For Existing Long Positions:

Nifty Intraday SL 17425 n Closing SL 17300
BankNifty Intraday SL 40100 n Closing SL 39900

 
For Existing Short Positions:

Nifty Intraday n Closing SL 17650
BankNifty Intraday n Closing SL 40650
 
For New Positions:

Sell Nifty:
SL 17650 Tgt 17425, 17375, 17325, 17300, 17275, 17250, 17175
Buy Nifty in 17175-17250 range:
SL 17075 Tgt 17300, 17350, 17375, 17425, 17475, 17525

For New Positions :

Sell BankNifty:
SL 40650 Tgt 40200, 40150, 40075, 39950, 39800, 39625, 39525, 39300

Buy BankNifty in 39500-39625 range:
SL 39300 Tgt 39700, 39800, 39925, 39975, 40075, 40150, 40200

F&O Ban Update:

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

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