Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,300-23,400 levels and a strong buy zone at 23,000-23,200 levels on Thursday, November 14. For the Nifty Bank, he expects support at 49,650-49,750 levels and a stronger support zone at 49,075-49,275 levels.

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

  • Global: Neutral
  • FII: Neutral
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Negative
  • Trend: Negative
  • FII long positions at 22 per cent vs 24 per cent before Wednesday's session
  • Nifty put-call ratio (PCR) at 0.70 vs 0.72
  • Nifty Bank PCR at 1.12 vs 0.59
  • India VIX up 6 per cent at 15.44

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The market wizard sees a higher zone for the headline index at 23,750-23,850 levels and a strong sell zone at 23,875-24,000 levels.

For the banking index, he sees a higher zone at 50,375-50,575 levels and a strong sell zone at 50,800-51,000 levels.

ALSO READ: Goodbye, Bank Nifty weekly options!

MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 23,475
  • Nifty Bank intraday and closing stop loss at 49,750

For existing short positions:

  • Nifty intraday stop loss at 23,750 and closing stop loss at 23,900
  • Nifty Bank intraday stop loss at 50,600 and closing stop loss at 51,200

For new positions in Nifty50:

  • The best range to sell Nifty is 23,750-23,875 with a stop loss at 24,000 for targets of 23,650, 23,575, 23,500, 23,400, 23,200 and 23,100
  • Aggressive traders can buy Nifty in the 23,100-23,300 range with a strict stop loss at 22,900 for targets of 23,500, 23,550, 23,650, 23,750, 23,800 and 23,875

For new positions in Nifty Bank:

  • The best range to sell Nifty Bank is 50,800-51,000 with a stop loss at 51,200 for targets of 50,575, 50,375, 50,200, 50,100, 50,000, 49,900 and 49,750
  • Aggressive traders can buy Nifty Bank in the 49,650-49,750 range with a strict stop loss at 49,500 for targets of 49,900, 50,075, 50,200, 50,375, 50,500 and 50,800

Stocks in F&O ban​

  • New in ban: GNFC
  • Out of ban: AB Fashion
  • Already in ban: Hindustan Copper, Aarti Industries, Granules India, Manappuram Finance

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