Anil Singhvi strategy November 10: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,300-19,330 and a strong buy zone at 19,200-19,235 levels on Friday, November 10. For the Nifty Bank, he expects support at 43,425-43,550 levels and a strong buy zone at 43,225-43,325 levels.

Here's how Anil Singhvi sums up the market setup:

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Neutral

Singhvi expects a higher zone for the Nifty50 at 19,400-19,465 levels and a strong sell zone at 19,485-19,550 levels. For the banking index, he sees a higher zone coming in at 43,700-43,800 levels and a strong sell zone at 43,875-44,000 levels.  

ANIL SINGHVI MARKET STRATEGY

Singhvi expects some profit-booking on Dalal Street following buying in the domestic market as well as Wall Street, and suggests continuing with a 'buy on dips' strategy at key support levels on Dalal Street till Diwali.

The market wizard sees strong support for the Nifty and the Nifty Bank coming in at 19,225-19,325 and 43,225-43,425 levels, and resistance at 19,450-19,550 and 43,800-44,000, respectively. 

• FII index long positions unchanged at 19 per cent as the previous day
• Nifty put-call ratio (PCR) at 0.99 vs 0.98
• Nifty Bank PCR at 0.99 vs 0.97
• Fear index India VIX down 0.49 per cent at 10.98

For existing long positions:

• Nifty intraday and closing stop loss at 19,300

• Nifty Bank intraday stop loss at 43,500 and closing stop loss at 43,300

For existing short positions:

• Nifty intraday and closing stop loss at 19,500

• Nifty Bank intraday stop loss at 44,000 and closing stop loss at 43,800

For new positions in Nifty:

• Sell Nifty with a stop loss at 19,500 for targets of 19,335, 19,310, 19,275, 19,235 and 19,210

• Buy Nifty in the 19,235-19,335 range with a stop loss at 19,200 for target of 19,375, 19,400, 19,420, 19,440 and 19,465

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 43,900 for targets of 43,550, 43,425, 43,325, 43,275, 43,225 and 43,150

• Buy Nifty Bank in the 43,325-43,425 range with a stop loss at 43,150 for targets of 43,550, 43,625, 43,675, 43,725, 43,800 and 43,875

F&O ban update

• New in ban: Chambal Fertilisers, MCX
• Already in ban: Delta Corp, GNFC
• Out of ban: None

Stocks of the day:

Buy Eclerx Services shares with a stop loss at Rs 2,000 for targets of Rs 2,095, Rs 2,125 and Rs 2,150

• Strong performance on all parameters
• Margin at 24.2 per cent a big surprise  

Buy Subros shares with a stop loss at Rs 390 for targets of Rs 402, Rs 408 and Rs 415

• Strong results on all parameters
• Highest ever quarterly revenue
• Margins improved after nine quarters, to 8.6 per cent

Buy BEML shares with a stop loss at Rs 2,070 for targets of Rs 2,125, Rs 2,140 and Rs 2,160

• All-round strong performance
• Order book huge at Rs 12,743 crore

Sell AB Fashion futures with a stop loss at Rs 219 for targets of Rs 209 and Rs 206

• Weak results due to a shift in the festive season
• Stock is continuously underperforming

ESAF Small Finance Bank listing preview:

Singhvi expects ESAF Small Finance Bank shares to list in the range of Rs 72-78 as against the issue price of Rs 60. He had advised applying for the IPO for a good listing gain and for the long term. 

He suggests short-term investors keep a stop loss below Rs 70. 

Results review:

Aurobindo Pharma

• Surprisingly, strong all-round performance
• Strong 31 per cent growth in US revenue
• But the stock has already run up 10 per cent in five days
• Profit-booking expected at higher levels
• Futures have support near Rs 930

Lupin

• Management confident in post-results conference call
• Strong guidance on US business and margins

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