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

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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​

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

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