Nifty, Bank Nifty strategy today, October 21 by Anil Singhvi: Check buy, stop loss and support levels

Nifty, Bank Nifty strategy today, October 21 by Anil Singhvi: Amid neutral global cues and positive FIIs and negative 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 17,550 up by 30 points or 0.17 per cent. Benchmark indices ticked higher for the fifth straight session on Thursday, buoyed by fag-end buying in IT stocks despite a largely downbeat trend overseas. A recovery in the rupee also boosted investor confidence. After swinging between gains and losses throughout the session, the 30-share BSE Sensex saw robust buying towards the fag-end to close 95.71 points or 0.16 per cent higher at 59,202.90. Similarly, the broader NSE Nifty climbed 51.70 points or 0.30 per cent to 17,563.95. The S&P 500 lost 29.38 points, or 0.80 per cent, to end at 3,665.78 points, while the Nasdaq Composite lost 65.664 points, or 0.61 per cent, to 10,614.844. The Dow Jones Industrial Average fell 92.22 points, or 0.30 per cent, to 30,333.59.

Anil Singhvi's strategy for Friday, October 21:  

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

Nifty support zone 17475-17525, Below that 17325-17425 Strong Buy zone

Nifty higher zone 17600-17650, Above that 17725-17775 Profit booking zone

Bank Nifty support zone 39850-39950, Below that 39500-39625 Strong Buy zone

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

Nifty support levels 17525, 17475, 17425, 17375, 17350, 17325

Nifty higher levels 17600, 17625, 17650, 17725, 17775, 17800

Bank Nifty support levels 39975, 39925, 39850, 39700, 39625, 39525 

Bank Nifty higher levels 40200, 40325, 40375, 40425, 40500, 40625
FIIs Index Long at 27% Vs 30%
PCR at 1.29 Vs 1.13
BankNifty PCR at 0.86 Vs 1.06
India VIX down by 1.5% at 17.23

For Existing Long Positions:

Nifty Intraday n Closing SL 17400
BankNifty Intraday n Closing SL 39800
 
 

For Existing Short Positions:

Nifty Intraday n Closing SL 17650
BankNifty Intraday n Closing SL 40650

 
For New Positions:

Buy Nifty in 17425-17475 range:
SL 17325 Tgt 17525, 17575, 17600, 17625, 17650, 17725

Aggressive Traders Sell Nifty in 17650-17725 range:
Strict SL 17800 Tgt 17600, 17575, 17525, 17475, 17425

For New Positions :

Buy BankNifty in 39500-39625 range:
SL 39300 Tgt 39700, 39800, 39850, 39925, 39975, 40075

Aggressive Traders Buy BankNifty in 39850-39975 range:
Strict SL 39800 Tgt 40075, 40150, 40200, 40350, 40425, 40625

Sell BankNifty in 40375-40625 range:
SL 40700 Tgt 40325, 40200, 40150, 40075, 39975, 39925, 39850

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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