Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,625-19,700 levels and a strong buy zone at 19,525-19,600 levels on Monday, October 16. For the Nifty Bank, he expects support at 43,950-44,125 levels and a strong buy zone at 43,600-43,800 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,800-19,840 and a sell zone at 19,900-19,950 levels. For the banking index, he sees a higher zone emerging at 44,400-44,525 levels and a sell zone at 44,575-44,700 levels.  

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests trimming down market positions amid signs of rising tensions between Israel and Hamas, and elevated crude oil prices. He expects strength int he market to only emerge past 19,850 and 44,800 levels in the Nifty and Nifty Bank indices on a closing basis, respectively. 

The market guru expects strong support to emerge for the gauges at 19,450-19,550 and 43,600-43,800 levels, respectively. 

  • FII index long positions at 27 per cent vs 29 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.14 vs 1.21
  • Nifty Bank PCR at 0.81 vs 0.94
  • Fear index India VIX unchanged at 10.62

For existing long positions:

  • Nifty intraday and closing stop loss at 19,625
  • Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,850
  • Nifty Bank intraday and closing stop loss at 44,750

For new positions in Nifty:

  • Sell Nifty with a stop loss at 19,850 for targets of 19,700, 19,675, 19,635, 19,600, 19,575, 19,550 and 19,525
  • Aggressive traders can buy Nifty in the 19,550-19,650 range with a strict stop loss at 19,475 for targets of 19,700, 19,725, 19,750, 19,775, 19,800 and 19,835

For new positions in Nifty Bank:

  • Sell Nifty Bank in the 44,400-44,600 range with a stop loss at 44,750 for targets of 44,300, 44,200, 44,125, 44,000, 43,900, 43,850 and 43,800
  • Aggressive traders can buy Nifty Bank in the 43,800-44,000 range with a strict stop loss at 43,600 for targets of 44,125, 44,200, 44,275, 44,350, 44,400 and 44,500

Stocks in ban:

  • New in ban: SAIL
  • Already in ban: Delta Corp, Sun TV, BHEL, India Cements, Balrampur Chini, Hindustan Copper, L&T Finance, PNB, Manappuram Finance, Indiabulls Housing Finance
  • Out of ban: None

Result review:

Dalmia Bharat

  • Results below expectations but operational performance and margins much better
  • Don’t short at lower levels
  • Support for stock futures is at Rs 2,250-2,270 and a higher level at Rs 2,325-2,350

Avenue Supermart (D-mart):

  • Results below expectations
  • Support near 3830, Higher level 4050

Stocks of the day:

Buy ONGC futures with a stop loss at Rs 184 for targets of Rs 189 and Rs 192

  • Crude up six per cent

Sell Bank of Baroda futures with a stop loss at Rs 209 for targets of Rs 200, Rs 198 and Rs 195

  • Profit-booking expected in banking stocks

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