Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,575-19,650 levels and a strong buy zone at 19,485-19,550 levels on Wednesday, October 11. For the Nifty Bank, he expects support at 44,125-44,200 levels and a strong buy zone at 43,850-44,200 levels.

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

  • Global: Positive
  • FII: Positive
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive

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Singhvi sees a higher zone for the Nifty coming in at 19,765-19,800 levels and a profit-booking zone at 19,850-19,900 levels. He pegs a higher zone for the banking index at 44,500-44,625 levels and a profit-booking zone at 44,675-44,750 levels. 

ANIL SINGHVI MARKET STRATEGY  

One can expect some more relief in the market in the absence of updates from Israel, and positive signals on Wall Street, bond yields as well as the dollar index, according to Singhvi, who suggests buying at the first support levels and profit-taking at the upper end of the trading range. 

He sees higher ranges for the Nifty and the Nifty Bank coming in at 19,765-19,800 and 44,575-447,50 levels, and expects fresh breakouts after closing levels above 19,800 and 44,800, respectively.  

  • FII index long positions at 26 per cent vs 27 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.31 vs 1.04
  • Nifty Bank PCR at 1.11 vs 0.73
  • Fear index India VIX down one per cent at 11.27

For existing long positions:

  • Nifty intraday and closing stop loss at 19,500
  • Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,800
  • Nifty Bank intraday stop loss at 44,525 and closing stop loss at 44,800

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,550 for targets of 19,725, 19,765, 19,800 and 19,850
  • Aggressive traders can sell Nifty in the 19,765-19,850 range with a strict stop loss at 19,900 for targets of 19,725, 19,675, 19,650, 19,625, 19,575 and 19,550

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 44,000-44,200 with a stop loss at 43,800 for targets of 44,300, 44,350, 44,400, 44,450 and 44,500
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 44,200 for targets of 44,475, 44,525, 44,575, 44,625, 44,675 and 44,750
  • Aggressive traders can sell Nifty Bank in the 44,575-44,750 range with a strict stop loss at 44,850 for targets of 44,500, 44,400, 44,350, 44,300, 44,225 and 44,125

Stocks in ban:

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

Stock of the day:

Buy TVS Motor Company futures with a stop loss at Rs 1,520 for targets of Rs 1,550, Rs 1,570 and Rs 1,580

  • DAM Capital raises target to Rs 3,051 from Rs 1,875

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