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

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,465-19,525 levels and a strong buy zone at 19,340-19,435 levels on Tuesday, October 10. For the Nifty Bank, he expects support at 43,600-43,800 levels and a strong base at 43,350-43,500 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi sees a higher zone for the Nifty emerging at 19,575-19,650 levels and a strong sell zone at 19,675-19,765 levels. He pegs a higher zone for the banking index at 44,100-44,225 levels and a strong sell zone at 44,300-44,500 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi suggests traders keep their positions light amid the absence of negative signals about the Israel-Palestine war, and restrict moves to intraday only. He points out that taking overnight positions remains risky and advises buying at lower levels.   

He views strong support at 19,350-19,450 and 43.600-43,800 levels for the Nifty50 and the Nifty Bank, and recommends profit-booking at the upper ends of the 19,650-19,750 and 44,400-44,600 ranges, respectively. 

• FII index long positions unchanged at 27 per cent as the previous day

• Nifty put-call ratio (PCR) at 1.04 vs 1.12

• Nifty Bank PCR at 0.73 vs 0.88

• Fear index India VIX up 11 per cent at 11.40

For existing long positions:

• Nifty intraday and closing stop loss at 19,425

• Nifty Bank intraday and closing stop loss at 43,600

For existing short positions:

• Nifty intraday and closing stop loss at 19,725

• Nifty Bank intraday stop loss at 44,150 and closing stop loss at 44,400

For new positions in Nifty:

• Buy Nifty with a stop loss at 19,425 for targets of 19,550, 19,575, 19,625, 19,650, 19,675 and 19,725

• The best range to sell Nifty is 19,650-19,725 with a stop loss at 19,800 for targets of 19,575, 19,550, 19,525, 19,485, 19,465 and 19,435

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 43,600 for targets of 44,100, 44,150, 44,225, 44,300, 44,350, 44,400 and 44,500

• The best range to sell Nifty Bank is 44,200-44,400 with a stop loss at 44,550 for targets of 44,100, 43,950, 43,900, 43,850, 43,800 and 43,600

Stocks in ban:

• New in ban: MCX, L&T Finance
• Already in ban: PNB, Delta Corp, Manappuram Finance, Indiabulls Housing Finance
• Out of ban: None

Stock of the day:

Buy Zomato shares with a stop loss at Rs 100.5 for targets of Rs 105.5 and Rs 107

• Strong quarterly results expected
• Swiggy strike in Mumbai also beneficial

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