Anil Singhvi strategy October 5: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,340-19,385 levels and a strong buy zone at 19,225-19,300 levels on Thursday, October 5. For the Nifty Bank, he expects a strong buy zone at 43,600-43,850 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

Singhvi sees a higher zone in the 50-scrip index at 19,485-19,550  levels and a strong sell zone at 19,600-196,75 levels. He pegs a higher zone in the banking index at 44,150-44,250 levels and a strong sell zone at 44,300-44,525 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi points out that the market finds important support at the August 31 lows and that Thursday's session is going to be a significant one amid persistently heavy selling by FIIs, though participants can expect some support from easing crude oil prices and a recovery in global equities. 

He expects strong support for the Nifty and the Nifty Bank to emerge at 19,225-19,350 and 43,600-43,800 levels, but warns that the trend may change if the indices give up the 19,250 and 43,600 levels on a closing basis, respectively. Investors may put 25-33 per cent of their funds in the support range, Singhvi adds. 

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• FII index long positions at 25 per cent vs 24 per cent the previous day
• Nifty put-call ratio (PCR) at 0.96 vs 0.91
• Nifty Bank PCR at 0.81 vs 0.78
• Fear index India VIX down one per cent at 11.66

For existing long positions:

• Nifty intraday stop loss at 19,300 and closing stop loss at 19,250

• Nifty Bank intraday stop loss at 43,800 and closing stop loss at 43,600

For existing short positions:

• Nifty intraday and closing stop loss at 19,675

• Nifty Bank intraday stop loss at 44,200 and closing stop loss at 44,625

For new positions in Nifty:

• Buy Nifty with a stop loss at 19,300 for targets of 19,465, 19,485, 19,525, 19,550, 19,600 and 19,625

• The best range to sell Nifty is 19,600-19,675 with a stop loss at 19,775 for targets of 19,550, 19,525, 19,485, 19,465, 19,435, 19,385 and 19,365

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 43,600 for targets of 44,150, 44,250, 44,300, 44,350, 44,400, 44,525 and 44,575

• The best range to sell Nifty Bank is 44,400-44,575 with a stop loss at 44,750 for targets of 44,300, 44,250, 44,175, 44,000, 43,950 and 43,850

Stocks of the day:

• New in ban: Delta Corp, Manappuram Finance
• Already in ban: Indiabulls Housing Finance
• Out of ban: None

Stocks of the day:

Sell Navin Fluorine futures with a stop loss at Rs 3,870 for targets of Rs 3,810, Rs 3,785 and Rs 3,725

• Execution will be affected in the near term
• Global challenges also making things difficult
• Jefferies has double-downgraded the stock to 'hold' from 'buy' , and reduced its price target to Rs 3,625 from Rs 5,475 

Buy RBL Bank shares with a stop loss at Rs 247 for targets of Rs 255, Rs 258 and Rs 260

• Strong Q2 update

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