Anil Singhvi Market Strategy September 17: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's 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 25,275-25,335 levels and a strong buy zone at 25,150-25,235 levels on Tuesday, September 17.
For the Nifty Bank, he expects support to come in at 51,775-51,925 levels and a strong buy zone at 51,500-51,650 levels.
Here's how the market guru sums up the trade setup this morning:
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Global: Positive
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FII: Negative
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DII: Positive
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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 at 68 per cent vs 67 per cent the previous day
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Nifty put-call ratio (PCR) at 1.26 vs 1.33
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Nifty Bank PCR at 1.16 vs 1.13
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India VIX unchanged at 12.46
The market wizard sees a higher zone for the headline index at 25,430-25,475 levels and a "blue-sky zone" above the 25,500 mark.
For the banking index, he sees a higher zone at 52,275-52,425 levels and a strong sell zone at 52,500-52,675 levels.
MARKET STRATEGY
For existing long positions:
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Nifty intraday and closing stop loss at 25,275
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Nifty Bank intraday stop loss at 51,900 and closing stop loss at 51,750
For existing short positions:
- Nifty intraday stop loss at 25,500 and closing stop loss at 25,400
- Nifty Bank intraday stop loss at 52,500 and closing stop loss at 52,225
For new positions in Nifty50:
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The best range to buy Nifty is 25,200-25,300 with a stop loss at 25,150 for targets of 25,335, 25,385, 25,430, 25,475 and 25,500
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Aggressive traders can sell Nifty in the 25,440-25,500 range with a strict stop loss at 25,550 for targets of 25,385, 25,335, 25,300, 25,275, 25,235 and 25,200
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 51,775-51,925 with a stop loss at 51,700 for targets of 52,000, 52,075, 52,150, 52,200, 52,275 and 52,350
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Aggressive traders can buy Nifty Bank with a strict stop loss at 51,900 for targets of 52,200, 52,275, 52,350, 52,425, 52,500 and 52,575
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Aggressive traders can sell Nifty Bank in the 52,350-52,500 range with a strict stop loss at 52,600 for targets of 52,275, 52,200, 52,150, 52,025, 51,950, 51,875 and 51,775
Stocks in F&O ban
- New in ban: LIC Housing Finance, Birlasoft, GNFC
- Already in ban: Granules India, Aarti Industries, Balrampur Chini, Hindustan Copper, RBL Bank, Bandhan Bank, Chambal Fertilisers
- Out of ban: None
Stock of the Day
Buy Samvardhan Motherson futures near Rs 190 for targets of Rs 199 and Rs 202 with a stop loss at Rs 184
- QIP opened on Monday at a floor price of Rs 188.85/share
- Expect good response to QIP
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09:07 AM IST