Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,465-19,515 levels and a strong buy zone at 19,335-19,435 levels on Monday, October 23. 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: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Cautious
  • Trend: Positive

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Singhvi expects a higher zone for the Nifty50 at 19600-19675 levels and a strong sell zone at 19,700-19,775 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 strong domestic but weak global signals amid an oversold Wall Street and easing FII outflows. He believes that traders need to hold on to their positions in today's session as well as on the monthly F&O expiry on Thursday. 

There have been a host of good quarterly results over the weekend, he highlights. 

Singhvi expects the domestic market to remain stable during the period between the onset of the new monthly derivatives series and Diwali, with strong support for the Nifty and the Nifty Bank at 19,350-19,450 and 43,500-43,600 levels, respectively. 

 

  • FII index long positions at 26 per cent vs 29 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.90 vs 1.02
  • Nifty Bank PCR light at 0.73 vs 0.74
  • Fear index India VIX down one per cent at 10.82
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