Anil Singhvi Market Strategy November 5: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,675-23,800 levels and a strong buy zone at 23,500-23,625 levels on Tuesday, November 5. For the Nifty Bank, he expects support at 50,800-51,000 levels and a strong buy zone at 50,200-50,375 levels.

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

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Negative

• FII long positions at 24 per cent vs 23 per cent before the previous session

• Nifty put-call ratio (PCR) at 0.85 vs 1.07Nifty Bank PCR at 0.71 vs 0.69

• Volatility index India VIX up 5 per cent at 16.69

The market wizard sees a higher zone for the headline index at 24,075-24,200 levels and a strong sell zone at 24,275-24,400 levels.

For the banking index, he sees a higher zone at 51,475-51,675 levels and a strong sell zone at 51,750-51,900 levels.

Special Coverage, Special Occasion!

Market guru Singhvi is leading a special coverage from the offices of BSE in Mumbai in light of Zee Business achieving a record viewership with a market share of 77.4 per cent. He will also participate in a special bell-ringing ceremony 45 minutes into the opening bell, at 10 am, to commemorate the milestone. Read more

MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 23,800 
• Nifty Bank intraday and closing stop loss at 51,000

For existing short positions:

• Nifty intraday and closing stop loss at 24,325
• Nifty Bank intraday and closing stop loss at 51,825

For new positions in Nifty50:

• The best range to sell Nifty is 24,175-24,300 with a stop loss at 24,400 for targets of 24,075, 24,000, 23,900, 23,825, 23,750 and 23,675

• Aggressive traders can buy Nifty in the 23,625-23,800 range with a strict stop loss at 23,500 for targets of 24,000, 24,075, 24,135, 24,175, 24,200, 24,275 and 24,300

For new positions in Nifty Bank:

• The best range to sell Nifty Bank is 51,675-51,825 with a stop loss at 52,000 for targets of 51,525, 51,325, 51,225, 51,100, 51,000 and 50,800

• Aggressive traders can buy Nifty Bank in the 50,200-50,375 range with a strict stop loss at 50,000 for targets of 50,750, 50,975, 51,075, 51,200, 51,325, 51,475 and 51,675

No stocks in F&O ban​

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