Anil Singhvi Market Strategy October 28: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,000-24,075 levels and a strong buy zone at 23,750-23,900 levels on Monday, October 28. For the Nifty Bank, he expects support at 50,375-50,575 levels and a strong buy zone at 50,000-50,200 levels.
Here's how the market guru sums up the trade setup this morning:
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Global: Neutral
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FII: Neutral
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DII: Positive
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F&O: Neutral
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Sentiment: Neutral
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Trend: Neutral
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FII index long positions at 37 per cent vs 35 per cent before the previous session
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Nifty put-call ratio (PCR) at 0.87 vs 1.00
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Nifty Bank PCR at 0.66 vs 0.92
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Volatility index India VIX up 5 per cent at 14.63
The market wizard sees a higher zone for the headline index at 24,325-24,400 levels and a profit-booking zone at 24,425-24,500 levels. For the banking index, he sees a higher zone at 51,100-51,250 levels and a profit-booking zone at 51,500-51,700 levels.
MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 24,000
- Nifty Bank intraday and closing stop loss at 50,200
For existing short positions:
- Nifty intraday and closing stop loss at 24,500
- Nifty Bank intraday stop loss at 51,050 and closing stop loss at 51,550
For new positions in Nifty50:
- Buy Nifty with a stop loss at 24,000 for targets of 24,300, 24,350, 24,400, 24,425, 24,450 and 24,475
- Aggressive traders can sell Nifty in the 24,400-24,475 range with a strict stop loss at 24,575 for targets of 24,350, 24,300, 24,200, 24,175, 24,075 and 24,000
For new positions in Nifty Bank:
- Buy Nifty Bank with a stop loss at 50,350 for targets of 51,000, 51,100, 51,250, 51,500, 51,575, 51,700 and 51,775
- Aggressive traders can sell Nifty Bank in the 51,500-51,700 range with a strict stop loss at 51,800 for targets of 51,275, 51,200, 51,100, 51,000, 50,900, 50,775 and 50,575
Stocks in F&O ban
- New in ban: Dixon Tech, IDFC Bank, L&T Finance
- Out of ban: IEX, Piramal Enterprises
- Already in ban: Escorts, NMDC, IndiaMart, RBL Bank, Manappuram Finance, Aarti Industries, Bandhan Bank
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09:10 AM IST