Anil Singhvi Market Strategy October 10: 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 24,850-24,950 levels and a strong buy zone at 24,700-24,800 levels on Thursday, October 10. 

For the Nifty Bank, he expects support at 50,700-50,900 levels and a strong buy zone at 50,375-50,575 levels.

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

• Global: Positive
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Neutral
• Trend: Neutral
• FII long positions much lower at 38 per cent vs 43 per cent a day ago
• Nifty PCR at 0.72 vs 0.74
• Nifty Bank PCR at 0.91 vs 0.70
• India VIX down 3 per cent at 14.12

   

The market wizard sees a higher zone for the headline index at 25,135-25,235 levels and a profit-booking zone at 25,300-25,375 levels. 

For the banking index, he sees a higher zone at 51,350-51,475 levels and a profit-booking zone at 51,675-51,850 levels. 

MARKET STRATEGY 

For existing long positions:

• Nifty Intraday SL 24900 n Closing SL 24775
• Bank Nifty Intraday SL 50850 n Closing SL 50450

   

For existing short positions:

• Nifty Intraday SL 25150 n Closing SL 25250
• Bank Nifty Intraday SL 51200 n Closing SL 51500

For new positions in Nifty50:

• Buy Nifty:
  SL 24900 Tgt 25050, 25130, 25230, 25300, 25335, 25375
• Aggressive Traders Sell Nifty in 25130-25230 range:
  Strict SL 25300 Tgt 25050, 25000, 24950, 24925, 24850, 24800

For new positions in Nifty Bank: 

• Best range to Buy Bank Nifty is 50375-50575:
  SL 50300 Tgt 50700, 50900, 51000, 51175, 51350
• Aggressive Traders Buy Bank Nifty:
  Strict SL 50800 Tgt 51175, 51350, 51475, 51675, 51775, 51850
• Aggressive Traders Sell Bank Nifty in 51475-51675 range:
  Strict SL 51900 Tgt 51350, 51175, 51025, 50900, 50700, 50475