Anil Singhvi Market Strategy October 22: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,575-24,675 levels and a strong buy zone at 24,425-24,550 levels on Tuesday, October 22. For the Nifty Bank, he expects support at 51,700-51,850 levels and a stronger support zone at 51,475-51,575 levels.

Here's how the market guru sums up the trade setup this morning: 

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 33 per cent vs 34 per cent ahead of the previous session

• Nifty put-call ratio (PCR) at 0.81 vs 0.93

• Nifty Bank PCR at 0.87 vs 1.20

• Volatility index India VIX up 5.5 per cent at 13.76

The market wizard sees a higher zone for the headline index at 24,850-24,950 levels and a strong sell zone at 24,975-25,050 levels. For the banking index, he sees a higher zone emerging at 52,200-52,350 and a profit-booking zone at 52,425-52,575 levels. 

MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 24,650

Nifty Bank intraday and closing stop loss at 51,700

For existing short positions:

• Nifty intraday and closing stop loss at 25,050
• Nifty Bank intraday and closing stop loss at 52,250

For new positions in Nifty50:

• Aggressive traders can buy Nifty in the 24,575-24,675 range with a strict stop loss at 24,475 for targets of 24,775, 24,800, 24,850, 24,900, 24,950 and 24,975
• Aggressive traders can sell Nifty in the 24,850-24,975 range with a strict stop loss at 25,075 for targets of 24,800, 24,775, 24,750, 24,700, 24,675 and 24,575

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 51,525-51,700 with a stop loss at 51,425 for targets of 51,850, 51,975, 52,075, 52,175, 52,350, 52,425 and 52,500
• The best range to sell Nifty Bank is 52,425-52,575 with a stop loss at 52,700 for targets of 52,200, 52,100, 52,025, 51,950, 51,850 and 51,700

Stocks in F&O ban 

• New in ban: IndiaMart, RBL Bank, Manappuram Finance, Piramal Enterprises
• Out of ban: Tata Chemicals, NALCO
• Already in ban: Aarti Industries, Birlasoft, L&T Finance, Bandhan Bank, IEX, Chambal Fertilisers, PNB, GNFC, Hindustan Copper, SAIL, Granules India, IDFC First Bank

RESULTS REVIEWS

City Union Bank 

• Overall good results
• Improvement in asset quality 
• Steady growth in deposits and advances
• Buy City Union Bank futures for targets of Rs 154 and Rs 157 with a stop loss at Rs 148 

Epack Durable

• The company has entered an agreement with Hisense International
• It expects revenue of Rs 8,500 crore in 5 years
• Buy Epack Durable shares for targets of Rs 400, Rs 406 and Rs 410 with a stop loss at Rs 382 

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