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. 

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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 

Stocks in F&O ban

  • New in ban: AB Fashion, Vodafone Idea
  • Out of ban: RBL Bank
  • Already in ban: Chambal Fertilisers, NALCO, SAIL, OFSS, Biocon, PNB, LIC Housing Finance, GNFC, Granules India and Aarti Industries

Stocks of the Day

Buy PNB futures with a stop loss at Rs 108.5 for targets of Rs 114.25 and Rs 115.75

  • QIP has opened to raise Rs 5000 crore at a floor price of Rs 109.16/share

Buy Neogen Chemicals shares with a stop loss at Rs 2,200 for targets of Rs 2,275, Rs 2,325 and Rs 2,375

  • Chemical stocks are looking strong
  • One of the company's products, electrolytes, is in huge demand among EV makers

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