Anil Singhvi Market Strategy September 11: 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 24,935-25,000 levels and a strong buy zone at 24,800-24,900 levels on Wednesday, September 11. 

For the Nifty Bank, he expects support to come in at 50,950-51,125 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: Neutral
• DII: Neutral
• F&O: Neutral
• Sentiment: Positive
• Trend: Positive
• FII long positions flat at 64 per cent as the previous day
• Nifty put-call ratio (PCR) at 1.07 vs 0.96
• Nifty Bank PCR at 0.9 vs 0.87
• India VIX down 6 per cent at 13.36

The market wizard sees a higher zone at 25,075-25,150 and a strong sell zone at 25,200-25,275 levels for the headline index. For the banking index, he sees a higher zone at 51,475-51,575 levels and a strong sell zone at 51,625-51,750 levels.

MARKET STRATEGY 

For existing long positions:

• Nifty intraday and closing stop loss at 24,850
• Nifty Bank intraday and closing stop loss at 50,900

For existing short positions:

• Nifty intraday and closing stop loss at 25,150
• Nifty Bank intraday and closing stop loss at 51,500

For new positions in Nifty50:

• The best range to buy Nifty is 24,850-24,950 with a stop loss at 24,750 for targets of 25,000, 25,050, 25,125, 25,150, 25,200 and 25,235
• Aggressive traders can sell Nifty in the 25,125-25,235 range with a stop loss at 25,325 for targets of 25,050, 25,000, 24,950, 24,900, 24,850 and 24,800 

For new positions in Nifty Bank: 

• Aggressive traders can buy Nifty Bank in the 50,800-50,950 range with a strict stop loss at 50,700 for targets of 51,075, 51,125, 51,200, 51,275, 51,350 and 51,475
• Aggressive traders can sell Nifty Bank in the 51,375-51,575 range with a strict stop loss at 51,750 for targets of 51,275, 51,200, 51,125, 51,025, 50,950 and 50,800