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

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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

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