Anil Singhvi Market Strategy September 3: 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 25,150-25,225 levels and a strong buy zone at 25,000-25,125 levels on Tuesday, September 3. 

For the Nifty Bank, he expects support to come in at 51,150-51,300 levels and a stronger support zone at 50,925-51,075 levels.

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

• Global: Neutral
• FII: Positive
• DII: Neutral
• F&O: Neutral
• Sentiment: Positive
• Trend: Positive
• FII long positions at 70 per cent vs 72 per cent the previous day
• Nifty put-call ratio (PCR) at 1.18 vs 1.41
• Nifty Bank PCR at 0.89 vs 0.92
• India VIX up 5 per cent at 14.06

The market wizard sees a higher zone at 25,300-25,350 levels and a "blue-sky zone" above 25,350 with the next target near 25,500. 

For the banking index, he sees a higher zone coming in at 51,575-51,650 levels and a profit-booking zone at 51,775-51,950 levels. 

MARKET STRATEGY 

For existing long positions:

• Nifty intraday stop loss at 25,150 and closing stop loss at 25,000
• Nifty Bank intraday stop loss at 51,250 and closing stop loss at 51,000

For existing short positions:

• Nifty intraday and closing stop loss at 25,350
• Nifty Bank intraday stop loss at 51,600 and closing stop loss at 51,500

For new positions in Nifty50:

• The best range to buy Nifty is 25,150-25,225 with a stop loss at 25,000 for targets of 25,275, 25,300 and 25,325; above 25,350, participants may hold their long positions with a trailing stop loss 
• Only if Nifty50 breaks below 25,150, aggressive traders can sell with a strict stop loss at the life high for targets of 25,050, 25,000, 24,975, 24,950 and 24,875

For new positions in Nifty Bank: 

• The best range to buy Nifty Bank is 51,150-51,300 with a stop loss at 51,000 for targets of 51,350, 51,450, 51,575, 51,650, 51,775 and 51,875
• Aggressive traders can sell Nifty Bank in the 51,575-51,775 range with a strict stop loss at 51,950 for targets of 51,500, 51,450, 51,350, 51,300, 51,250 and 51,150 

• New in ban: Hindustan Copper
• Already in ban: Balrampur Chini
• Out of ban: None

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