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 19,335-19,435 levels on Friday, October 20. For the Nifty Bank, he expects support at 43,500-43,600 levels and a stronger base at 43,350-43,450 levels.

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

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

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Singhvi expects a higher zone for the Nifty50 at 19,650-19,700 levels and a strong sell zone at 19,725-19,800 levels. For the banking index, he sees a higher zone coming in at 43,950-44,050 levels and a strong sell zone at 44,125-44,250 levels.  

ANIL SINGHVI MARKET STRATEGY

Singhvi points out that Dalal Street has negative signals from crude oil, US bond yields, and the dollar index amid persistent pressure owing to FII fund outflows. 

It is important for the Nifty50 and the Nifty Bank to take out the levels of 19,425 and 43,600 on a closing basis, respectively, he adds.  

  • FII index long positions unchanged at 29 per cent as the previous day
  • Nifty put-call ratio (PCR) at 1.02 vs 0.82
  • Nifty Bank PCR at 0.74 vs 0.72
  • Fear index India VIX down 0.5 per cent at 10.90
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.