Anil Singhvi Market Strategy September 13: 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 25,275-25,325 levels and a strong buy zone at 25,150-25,235 levels on Friday, September 13.
For the Nifty Bank, he expects support to come in at 51,575-51,675 levels and a strong buy zone at 51,275-51,425 levels.
Here's how the market guru sums up the trade setup this morning:
- Global: Positive
- FII: Positive
- DII: Neutral
- F&O: Neutral
- Sentiment: Positive
- Trend: Positive
- FII long positions at 66 per cent vs 64 per cent the previous day
- Nifty put-call ratio (PCR) at 1.44 vs 0.88
- Nifty Bank PCR at 1.19 vs 0.85
- Volatility index India VIX down three per cent at 13.18
The market wizard sees a higher zone at 25,425-25,500 and a "blue-sky zone" above 25,525 for the headline index.
For the banking index, he sees a higher zone at 51,950-52,075 levels and a profit-booking zone at 52,175-52,350 levels.
MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 25,200
- Nifty Bank intraday and closing stop loss at 51,400
For existing short positions:
- Nifty intraday stop loss at 25,500 and closing stop loss at 25,400
- Nifty Bank intraday stop loss at 52,050 and closing stop loss at 51,800
For new positions in Nifty50:
- The best range to buy Nifty is 25,235-25,325 with a stop loss at 25,150 for targets of 25,375, 25,425, 25,475 and 25,500
- No immediate sell trigger in Nifty; sell only if it breaks below 25,125
For new positions in Nifty Bank:
- The best range to buy Nifty Bank is 51,425-51,575 with a stop loss at 51,250 for targets of 51,675, 51,775, 51,875, 51,950, 52,075 and 52,175
- Sell Nifty Bank in the 52,175-52,350 range with a stop loss at 52,500 for targets of 52,075, 51,950, 51,875, 51,775, 51,700 and 51,575
Stocks in F&O ban
- New in ban: Granules India
- Already in ban: Aarti Industries, Balrampur Chini, Hindustan Copper, AB Fashion, RBL Bank, Bandhan Bank, Chambal Fertilisers
- Out of ban: None
Stocks of the Day
Buy Vedanta futures with a stop loss at Rs 437 for targets of Rs 452, Rs 456 and Rs 461
- Strong bounceback in metals
- Vedanta trading at attractive valuations
Buy Wipro futures with a stop loss at Rs 518 for targets of Rs 540 and Rs 545
- Bullish view on IT stocks
- Buy on dips
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