Anil Singhvi Market Strategy September 18: 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 25,300-25,350 levels and a strong buy zone at 25,200-25,275 levels on Wednesday, September 18.
For the Nifty Bank, he expects support to come in at 51,925-52,075 levels and a strong buy zone at 51,650-51,775 levels.
Here's how the market guru sums up the trade setup this morning:
- Global: Neutral
- FII: Neutral
- DII: Positive
- F&O: Neutral
- Sentiment: Positive
- Trend: Positive
- FII long positions unchanged at 68 per cent as the previous session
- Nifty put-call ratio (PCR) at 1.30 vs 1.26
- Nifty Bank PCR at 1.09 vs 1.16
- Volatility index India VIX up one per cent at 12.59
The market wizard sees a higher zone for the headline index at 25,450-25,500 levels and a "blue-sky zone" above the 25,525 mark.
For the banking index, he sees a higher zone at 52,275-52,425 levels and a profit-booking 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 and closing stop loss at 25,525
- Nifty Bank intraday and closing stop loss at 52,500
For new positions in Nifty50:
- The best range to buy Nifty is 25,300-25,350 with a stop loss at 25,200 for targets of 25,385, 25,425, 25,450 and 25,500
- Aggressive traders can sell Nifty near the 25,500 mark with a strict stop loss at 25,550 for targets of 25,440, 25,385, 25,335, 25,300, 25,275 and 25,235
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 and 52,275
- Aggressive traders can buy Nifty Bank with a strict stop loss at 51,900 for targets of 52,275, 52,350, 52,425, 52,500, 52,575 and 52,675
- Aggressive traders can sell Nifty Bank in the 52,425-52,575 range with a strict stop loss at 52,700 for targets of 52,350, 52,275, 52,200, 52,150, 52,025 and 51,925
Stocks in F&O ban
- New in ban: Biocon, PNB
- Out of ban: Bandhan Bank, Chambal Fertilisers
- Already in ban: LIC Housing Finance, Birlasoft, GNFC, Granules India, Aarti Industries, Balrampur Chini, Hindustan Copper, RBL Bank
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