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 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: 

• Global: Positive
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Positive
• Trend: Positive
• FII long positions at 68 per cent vs 67 per cent the previous day
• Nifty put-call ratio (PCR) at 1.26 vs 1.33
• Nifty Bank PCR at 1.16 vs 1.13
• 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:

• Nifty intraday and closing stop loss at 25,275
• 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:

• 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
• 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: 

• 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
• 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
• 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