Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,485-19,525 levels and a strong buy zone at 19,340-19,435 levels on Friday, October 6, the day the RBI is due to reveal a key decision on benchmark interest rates following three days of bi-monthly deliberations at its all-powerful Monetary Policy Committee (MPC). For the Nifty Bank, he expects support at 43,950-44,100 levels and 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: Neutral
  • Trend: Positive

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Singhvi sees a higher zone for the 50-scrip index at 19,575-19,625 levels and a strong sell zone at 19,675-19,765 levels. He pegs a higher zone for the banking index at 44,400-44,525 levels and a strong sell zone at 44,600-44,750 levels. 

ANIL SINGHVI MARKET STRATEGY  

  • FII index long positions at 26 per cent vs 25 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.13 vs 0.96
  • Nifty Bank PCR at 0.84 vs 0.81
  • Fear index India VIX down six per cent at 10.94

For existing long positions:

  • Nifty intraday and closing stop loss at 19,425
  • Nifty Bank intraday stop loss at 44,000 and closing stop loss at 43,800

For existing short positions:

  • Nifty intraday and closing stop loss at 19,675
  • Nifty Bank intraday stop loss at 44,500 and closing stop loss at 44,625

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,425 for targets of 19,600, 19,625, 19,675, 19,700, 19,725 and 19,765
  • Aggressive traders sell Nifty in the 19,625-19,725 range with a strict stop loss at 19,800 for targets of 19,575, 19,550, 19,525, 19,485, 19,465 and 19,435

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank with a strict stop loss at 43,950 for targets of 44,300, 44,350, 44,400, 44,525, 44,600, 44,675 and 44,750
  • Aggressive traders can sell Nifty Bank in the 44,525-44,675 range with a strict stop loss at 44,800 for targets of 44,400, 44,350, 44,250, 44,150, 44,100 and 44,000

Stocks in ban:

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

Stock of the day:

Buy JSPL futures with a stop loss at Rs 675 for targets of Rs 686, Rs 690 and Rs 698

  • Big upgrade from Macquarie; target raised to Rs 808 from Rs 557

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