Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,300-24,375 levels and a strong buy zone at 24,050-24,200 levels on Friday, October 25. For the Nifty Bank, he expects support at 51,100-51,250 levels and a strong buy zone at 50,900-51,000 levels.

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

  • Global: Neutral
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Negative
  • Trend: Neutral
  • FII long positions at 35 per cent vs 33 per cent before the previous session
  • Nifty put-call ratio (PCR) at 1.00 vs 0.79
  • Nifty Bank PCR at 0.92 vs 0.85
  • Volatility index India VIX down 5 per cent at 13.97

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The market wizard sees a higher zone for the headline index at 24,475-24,600 levels and a strong sell zone at 24,675-24,775 levels. For the banking index, he sees a higher zone coming in at 51,775-51,975 levels and a strong sell zone at 52,100-52,250 levels. 

MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 24,300 and closing stop loss at 24,400
  • Nifty Bank intraday and closing stop loss at 51,000

For existing short positions:

  • Nifty intraday stop loss at 24,525 and closing stop loss at 24,600
  • Nifty Bank intraday and closing stop loss at 51,800

For new positions in Nifty50:

  • The best range to buy Nifty is 24,200-24,300 with a stop loss at 24,100 for targets of 24,350, 24,375, 24,400, 24,450, 24,475 and 24,575
  • Aggressive traders can buy Nifty with a strict stop loss at 24,300 for targets of 24,450, 24,475, 24,575, 24,600, 24,675 and 24,700
  • Aggressive traders can sell Nifty in the 24,475-24,600 range with a strict stop loss at 24,700 for targets of 24,440, 24,400, 24,375, 24,350, 24,300 and 24,200

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 51,000-51,250 with a stop loss at 50,900 for targets of 51,350, 51,475, 51,525, 51,575, 51,700 and 51,775
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 51,100 for targets of 51,675, 51,775, 51,900, 51,975, 52,100, 52,175 and 52,250
  • Aggressive traders can sell Nifty Bank in 51,775-51,975 range with a strict stop loss at 52,100 for targets of 51,700, 51,575, 51,525, 51,275, 51,200 and 51,100

Stocks in F&O ban

  • New in ban: Escorts
  • Out of ban: Birlasoft, GNFC
  • Already in ban: NMDC, IndiaMart, RBL Bank, Manappuram Finance, Piramal Enterprises, Aarti Industries, Bandhan Bank, IEX

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