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 shares his strategy for todays session on Dalal Street. Check out 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 24,935-25,000 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:
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Global: Negative
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FII: Neutral
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DII: Neutral
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F&O: Neutral
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Sentiment: Positive
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Trend: Positive
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FII long positions flat at 64 per cent as the previous day
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Nifty put-call ratio (PCR) at 1.07 vs 0.96
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Nifty Bank PCR at 0.9 vs 0.87
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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:
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Nifty intraday and closing stop loss at 24,850
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Nifty Bank intraday and closing stop loss at 50,900
For existing short positions:
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Nifty intraday and closing stop loss at 25,150
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Nifty Bank intraday and closing stop loss at 51,500
For new positions in Nifty50:
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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
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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:
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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
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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
Stocks in F&O ban
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Already in ban: Balrampur Chini, Hindustan Copper, AB Fashion, RBL Bank, Biocon, Bandhan Bank, Chambal Fertilisers
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New in ban: None
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Out of ban: None
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