Anil Singhvi Market Strategy September 24: 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 25,775-25,850 levels and a strong buy zone at 25,625-25,700 levels on Tuesday, September 24. 

For the Nifty Bank, he expects support to come in at 53,725-53,800 levels and a strong buy zone at 53,350-53,500 levels.

Here's how the market guru sums up the trade setup this morning: 

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 75 per cent vs 76 per cent a day ago

• Nifty put-call ratio (PCR) at 1.42 vs 1.50

• Nifty Bank PCR unchanged at 1.34

• Volatility index India VIX up eight per cent at 13.79

The market wizard sees a higher zone for the headline index at 25,975-26,025 levels and the upmove to extend till 26,200-26,250 once past the 26,050 mark. 

For the banking index, he sees a "blue-sky zone" above 54,250, with the next big target near 54,500 and 55,000 levels. 

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MARKET STRATEGY 

For existing long positions:

• Nifty intraday and closing stop loss at 25,750

• Nifty Bank intraday stop loss at 53,700 and closing stop loss at 53,000

For existing short positions:

• Nifty intraday and closing stop loss at 26,025
• Nifty Bank intraday and closing stop loss at 54,250

For new positions in Nifty50:

• The best range to buy Nifty is 25,775-25,850 with a stop loss at 25,700 for targets of 25,900, 25,950 and 26,000; one may hold their positions above 26,025 with a trailing stop loss

• No signal to short Nifty for now; aggressive traders can sell with a strict stop loss at 26,000 if the index breaks below 25,750 

For new positions in Nifty Bank: 

• Aggressive traders can buy Nifty Bank in the 53,725-53,800 range with a strict stop loss at 53,650 for targets of 53,950, 54,050, 54,100 and 54,175; one may hold on to their long positions above 54,250 with a trailing stop loss

• No signal to short Nifty Bank for now; aggressive traders can sell the index with a strict stop loss at 54,000 if it breaks below 53,700