Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,225-19,285 levels and a strong buy zone at 18,975-19,025 levels on Wednesday, October 25, as Dalal Street returned to trade after a holiday. For the Nifty Bank, he expects support at 42,875-43,025 levels and a strong buy zone at 42,600-42,750 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,340-19,385 levels and a strong sell zone at 19,435-19,485 levels. For the banking index, he sees a higher zone coming in at 43,500-43,600 levels and a strong sell zone at 43,725-43,875 levels.  

ANIL SINGHVI MARKET STRATEGY

  • FII index long positions unchanged at 26 per cent as the previous day
  • Nifty put-call ratio (PCR) at 0.70 vs 0.90
  • Nifty Bank PCR light at 0.51 vs 0.73
  • Fear index India VIX up one per cent at 10.91

For existing long positions:

  • Nifty intraday and closing stop loss at 19,200
  • Nifty Bank intraday and closing stop loss at 42,900

For existing short positions:

  • Nifty intraday and closing stop loss at 19,550
  • Nifty Bank intraday and closing stop loss at 44,000

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,200 for targets of 19,340, 19,365, 19,385, 19,435, 19,465 and 19,485
  • The best range to sell Nifty is 19,435-19,515 with a stop loss at 19,600 for targets of 19,400, 19,365, 19,340, 19,300, 19,285 and 19,265

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 42,900 for targets of 43,275, 43,350, 43,475, 43,550, 43,600 and 43,700
  • Aggressive traders can sell Nifty Bank in the 43,550-43,850 range with a strict stop loss at 44,000 for targets of 43,475, 43,350, 43,275, 43,225, 43,150 and 43,050

Stocks in ban:

  • New in ban: RBL Bank
  • Out of ban: Indiabulls Housing Finance
  • Already in ban: None

Results review:

Torrent Pharma 

  • Results in line with estimates 
  • Management commentary positive
  • Deal with Cipla a big trigger 
  • Stock futures have support at Rs 1,850 and Rs 1,870; higher levels at Rs 1,890, Rs 1,905 and Rs 1,920

Stock of the day: 

Buy RBL Bank futures with a stop loss at Rs 227 for targets of Rs 235, Rs 238 and Rs 240

  • Stock fell five per cent on Monday
  • Near important support level, short covering expected

Buy Godawari Power with a stop loss at Rs 588 for targets of Rs 605, Rs 615 and Rs 630

  • Stock fell five per cent on Monday
  • Board to meet on November 3 to discuss stock split

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