Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 24,140-24,200 levels and a strong buy zone at 24,000-24,075 levels on Monday, November 4. 

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For the Nifty Bank, he expects support at 51,325-51,450 levels and a strong buy zone at 51,100-51,250 levels.

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

  • Global: Positive
  • FII: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII long positions at 23 per cent vs 22 per cent before the previous session
  • Nifty put-call ratio (PCR) at 1.07 vs 1.05
  • Nifty Bank PCR unchanged at 0.69
  • INDIA VIX up 2 per cent at 15.9 

The market wizard sees a higher zone for the headline index at 24,340-24,400 levels and a profit-booking zone at 24,435-24,500 levels.

For the banking index, he sees a higher zone at 51,825-51,975 levels and a profit-booking zone at 52,100-52,325 levels. 

MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 24,175 
  • Nifty Bank intraday stop loss at 51,450 and closing stop loss at 51,250

For existing short positions:

  • Nifty intraday and closing stop loss at 24,500
  • Nifty Bank intraday and closing stop loss at 52,050

For new positions in Nifty50:

  • The best range to buy Nifty is 24,135-24,200 levels with a stop loss at 24,000 for targets of 24,275, 24,300, 24,340, 24,375, 24,400, 24,435 and 24,475
  • Aggressive traders can sell Nifty in the 24,375-24,475 range with a strict stop loss at 24,550 for targets of 24,340, 24,300, 24,275, 24,200, 24,175 and 24,140

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 51,250-51,450 levels with a stop loss at 51,000 for targets of 51,575, 51,675, 51,825, 51,900, 51,975, 52,100 and 52,325
  • Aggressive traders can sell Nifty Bank in the 51,175-52,175 range with a strict stop loss at 52,375 for targets of 51,800, 51,675, 51,575, 51,500, 51,325, 51,250 and 51,100

No stocks in F&O ban​

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