Anil Singhvi Market Strategy November 11: 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 24,000-24,075 levels and a strong buy zone at 23,800-23,850 levels on Monday, November 11. For the Nifty Bank, he expects support at 51,200-51,350 levels and a strong buy zone at 50,900-51,100 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 24 per cent vs 25 per cent before Friday's session

• Nifty put-call ratio (PCR) at 0.91 vs 0.90

• Nifty Bank PCR at 0.70 vs 0.79i

• Volatility index India VIX down 3 per cent at 14.47

The market wizard sees a higher zone for the headline index at 24,200-24,300 levels and a strong sell zone at 24,350-24,475 levels.

For the banking index, he sees a higher zone at 51,750-51,925 levels and a strong sell zone at 52,000-52,200 levels.

MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 23,975

• Nifty Bank intraday stop loss at 51,450 and closing stop loss at 51,200

For existing short positions:

• Nifty intraday stop loss at 24,300 and closing stop loss at 24,500

• Nifty Bank intraday and closing stop loss at 52,000

For new positions in Nifty50:

• Buy Nifty in two tranches in the 23,825-24,000 range with a stop loss at 23,750 for targets of 24,075, 24,150, 24,200, 24,275, 24,300 and 24,340

• Aggressive traders can sell Nifty in the 24,275-24,375 range with a strict stop loss at 24,525 for targets of 24,225, 24,200, 24,150, 24,075, 24,000 and 23,850

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 51,200-51,350 range with a strict stop loss at 51,000 for targets of 51,475, 51,575, 51,675, 51,750, 51,825, 51,925 and 52,000

• Aggressive traders can sell Nifty Bank in the 51,925-52,100 range with a strict stop loss at 52,300 for targets of 51,800, 51,675, 51,575, 51,500, 51,350, 51,275 and 51,200

Stocks in F&O ban​

• New in ban: Manappuram Finance
• Already in ban: Granules India, AB Fashion
• Out of ban: None

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.