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: 

  • Global: Neutral
  • FII: Neutral
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII index long positions at 37 per cent vs 35 per cent before the previous session
  • Nifty put-call ratio (PCR) at 0.87 vs 1.00
  • Nifty Bank PCR at 0.66 vs 0.92
  • Volatility index India VIX up 5 per cent at 14.63

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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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