Anil Singhvi Market Strategy November 12: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Here is what Zee Business Managing Editor Anil Singhvi makes of the market 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 Tuesday, November 12. For the Nifty Bank, he expects support at 51,475-51,575 levels and a strong buy zone at 51,100-51,300 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 25 per cent vs 24 per cent before Monday's session
Nifty put-call ratio (PCR) unchanged at 0.91
Nifty Bank PCR at 0.86 vs 0.70
Volatility index India VIX down 1.5 per cent at 14.27

The market wizard sees a higher zone for the headline index at 24,235-24,335 levels and a strong sell zone at 24,375-24,475 levels.

For the banking index, he sees a higher zone at 52,000-52,175 levels and a strong sell zone at 52,350-52,475 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 24,350 and closing stop loss at 24,500
Nifty Bank intraday and closing stop loss at 52,200

For new positions in Nifty50:

Buy Nifty in two tranches at 23,850 and 24,000 with a stop loss at 23,750 for targets of 24,075, 24,140, 24,200, 24,275, 24,300 and 24,340
Aggressive traders can sell Nifty in the 24,300-24,400 range with a strict stop loss at 24,500 for targets of 24,225, 24,200, 24,150, 24,075 and 24,000

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 51,300-51,500 range with a strict stop loss at 51,100 for targets of 51,675, 51,800, 51,875, 52,000, 52,100, 52,175 and 52,350
Aggressive traders can sell Nifty Bank in the 52,175-52,350 range with a strict stop loss at 52,500 for targets of 52,000, 51,900, 51,800, 51,675, 51,575, 51,500 and 51,350

Stocks in F&O ban