Anil Singhvi Market Strategy September 26: 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 25,875-25,950 levels and a strong buy zone at 25,775-25,850 levels on Thursday, September 26. 

For the Nifty Bank, he expects support to come in at 53,900-53,975 levels and a strong buy zone at 53,725-53,800 levels.

What to expect in the expiration of the September F&O series due today?

• Nifty50 clinched a solid closing on Wednesday
• Nifty Bank finished the September F&O series above 54,000
• Nifty's 26,000 call option has open interest of 90 lakh 
• A sustained move above 26,050 may lead to short-covering
• A September F&O expiry above 26,000 will be a strong signal
• There is a low possibility of a closing below 25,925 

What to expect in the October F&O series?

• Nifty Bank closed the September series with a gain of 2,957 points
• Historically, the October series fares better for Nifty Bank
• The October series has led to positive moves in the banking index in six out of the past 10 years 
• Buying usually leads to big moves in the October series
• Except 2023, no significant downside has ever been recorded in the October series 
• There is a high possibility of the Nifty50 crossing the 56,000 mark in the October series

EDITOR’S TAKE | Anil Singhvi suggests maintaining 'buy on dips' strategy for now

• Mixed signals from global markets
• FIIs have refrained from buying for the past two days
• Higher levels can lead to some profit-taking
• Domestic fund inflows to support the market at lower levels
• Wednesday's strong closing levels have rendered Nifty50 and Nifty Bank strong technically
• Time to maintain ‘buy on dips’ strategy
• One can buy at the first support level
• Buy metal, PSU, and IT stocks on dips
• Buy midcap and smallcap shares selectively

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

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 75 per cent vs 72 per cent the previous day

• Nifty put-call ratio (PCR) at 1.33 vs 1.31

• Nifty Bank PCR at 0.94 vs 1.13

• INDIA VIX down 5 per cent at 12.74

The market wizard sees a "blue-sky zone" for the headline index above 26,050 with the next target placed near 26,200-26,250 levels. 

For the banking index, he expects a higher zone at 54,200-54,250 levels and a blue-sky zone above 54,300 with the next targets at 54,500 and 55,000. 

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MARKET STRATEGY 

For existing long positions:

• Nifty intraday and closing stop loss at 25,775

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

For existing short positions:

• Nifty intraday and closing stop loss at 26,050
• Nifty Bank intraday and closing stop loss at 54,300

For new positions in Nifty50:

• The best range to buy Nifty is 25,850-25,950 with a stop loss at 25,775 for targets of 26,000 and 26,025; above 26,050, one may hold their long positions with a trailing stop loss

• No signal to short Nifty for now but aggressive traders can sell with a strict stop loss at 26,000 if it breaks below 25,825  

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 53,750-53,900 with a stop loss at 53,650 for targets of 53,975, 54,100, 54,150, 54,200 and 54,250; above 54,300, one may hold their long positions with a trailing stop loss

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