Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 25,075-25,150 levels and a strong buy zone at 24,950-25,000 levels on Thursday, September 5. 

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For the Nifty Bank, he expects support to come in at 51,150-51,250 levels and a stronger support zone at 50,850-51,000 levels.

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

  • Global: Neutral
  • FII: Negative
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive
  • FII long positions at 68 per cent vs 70 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.08 vs 1.2
  • Nifty Bank PCR at 1.05 vs 1.07
  • Volatility index India VIX up four per cent at 14.38

The market wizard sees a higher zone at 25,275-25,325 and a "blue-sky zone" above 25,350 for the headline index. 

For the banking index, he sees a higher zone coming in at 51,575-51,750 levels and a profit-booking zone at 51,875-51,950 levels. 

EDITOR'S TAKE

  • Wednesday's intraday recovery set to boost investor confidence 
  • A close as the day's high is a good sign
  • Traders to get ample opportunities on both sides
  • One can keep taking profits at higher levels
  • More weakness on the cards if the market gives up Wednesday's lows
  • Buying to gather steam if Nifty50 and Nifty Bank cross 25,350 and 51,750 levels respectively 

MARKET STRATEGY 

For existing long positions:

  • Nifty intraday stop loss at 25,075 and closing stop loss at 25,000
  • Nifty Bank intraday stop loss at 51,200 and closing stop loss at 51,000

For existing short positions:

  • Nifty intraday and closing stop loss at 25,350
  • Nifty Bank intraday and closing stop loss at 51,750

For new positions in Nifty50:

  • Buy Nifty with a stop loss at 25075 for targets of 25,235, 25,275, 25,300 and 25,325; above 25,350, one may hold their long positions with a trailing stop loss
  • Sell Nifty only if it breaks below 25,000; use a strict stop loss of 25,100

For new positions in Nifty Bank: 

  • Buy Nifty Bank with a stop loss at 51,150 for targets of 51,500, 51,575, 51,675, 51,750, 51,875 and 51,950
  • Aggressive traders can sell Nifty Bank in the 51,675-51,750 range with a strict stop loss at 51,800 for targets of 51,575, 51,500, 51,425, 51,350, 51,300 and 51,250

Stocks in F&O ban

  • New In Ban: RBL Bank
  • Already In Ban: Balrampur Chini, Hind Copper, AB Fashion
  • Out Of Ban: None
Stocks of the Day

Buy Lupin futures for targets of Rs 2,330 and Rs 2,355 with a stop loss at Rs 2,255

  • Pharma stocks looking strong

Buy Zomato shares for targets of Rs 247, Rs 250 and Rs 254 with a stop loss at Rs 240

  • JPMorgan has raised its target for the stock from Rs 208 to Rs 340

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