Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,340-19,435 levels and a strong buy zone at 19,225-19,300 levels on Wednesday, October 4. For the Nifty Bank, he expects support at 44,000-44,200 levels and a strong buy zone at 43,600-43,825 levels.

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

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

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Singhvi sees higher zones coming in for the Nifty and the banking index at 19,475-19,550 and 44,400-44,575 levels, respectively. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi points out that Dalal Street is at the lower levels of August 21 as he expects pressure in the market to continue owing to strength in the dollar index and bond yields.

He sees strong support for the Nifty and the Nifty Bank coming in at 19,250-19,350 and 43,600-43,800 levels, and expects the trend to change in case of closing levels below 19,250 and 44,000, respectively.  

  • FII index long positions at 24 per cent vs 28 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.91 vs 1.03 the previous day
  • Nifty Bank PCR at 0.78 vs 0.90
  • Fear index India VIX up three per cent at 11.79

For existing long positions:

  • Nifty intraday and closing stop loss at 19,465
  • Nifty Bank intraday stop loss 44,150 and closing stop loss at 44,300

For existing short positions:

  • Nifty intraday and closing stop loss at 19,675
  • Nifty Bank intraday and closing stop loss at 44,600

For new positions in Nifty:

  • Sell Nifty with a stop loss at 19,625 for targets of 19,465, 19,435, 19,385, 19,365, 19,340 and 19,300
  • Aggressive traders can buy Nifty in the 19,300-19,385 range with a strict stop loss at 19,200 for targets of 19,435, 19,465, 19,485, 19,525 and 19,550

For new positions in Nifty Bank:

  • Sell Nifty Bank with a stop loss at 44,600 for targets of 44,200, 44,125, 44,000, 43,950, 43,900 and 43,825
  • Aggressive traders can buy Nifty Bank in the 43,825-44,000 range with a strict stop loss at 43,600 for targets of 44,075, 44,125, 44,200, 44,300, 44,350 and 44,400

Stocks of the day:

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

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