Anil Singhvi Market Strategy October 4: 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 25,000-25,150 levels and a strong buy zone at 24,750-24,925 levels on Friday, October 4. For the Nifty Bank, he expects support to come in 51,125-51,275  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: Negative
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Negative
• Trend: Neutral
• FII long positions at 66 per cent now vs 79 per cent a day ago
• Nifty put-call ratio (PCR) at 0.88 vs 0.83
• Nifty Bank PCR at 0.70 vs 0.78
• India VIX up 10 per cent at 13.17

The market wizard sees a higher zone for the headline index at 25,300-25,425 levels and a strong sell zone at 25,475-25,625 levels. For the banking index, he expects a higher zone at 52,075-52,275 levels and a strong sell zone at 52,425-52,575 levels. 

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MARKET STRATEGY 

For existing long positions:

• Nifty intraday and closing stop loss at 25,000
• Nifty Bank intraday stop loss at 51,650 and closing stop loss at 51,750

For existing short positions:

• Nifty intraday and closing stop loss at 25,650
• Nifty Bank intraday and closing stop loss at 52,600

For new positions in Nifty50:

• Aggressive traders can sell Nifty with a strict stop loss at 25,400 for targets of 25,150, 25,075, 25,050, 25,000, 24,925 and 24,850
• The best range to buy Nifty is 24,750-24,850 with a stop loss at 24,700 for targets of 24,925, 25,000, 25,050, 25,075, 25,150 and 25,225
• Aggressive traders can buy Nifty in the 24,925-25,075 range with a strict stop loss at 24,750 for targets of 25,150, 25,200, 25,250, 25,300, 25,375 and 25,425

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank with a strict stop loss at 52,200 for targets of 51,700, 51,575, 51,500, 51,275, 51,125 and 51,000; the best range to buy Nifty Bank is 50,375-50,575 with a stop loss at 50,300 for targets of 50,700, 50,850, 51,000, 51,125, 51,275 and 51,475
• Aggressive traders can buy Nifty Bank in the 51,125-51,275 range with a strict stop loss at 51,000 for targets of 51,375, 51,500, 51,575, 51,675, 51,850 and 51,950