Anil Singhvi strategy September 1: 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 coming in at 19,200-19,250 levels and a strong buy zone at 18,975-19,025 levels on Friday, September 1, the first day of the September derivatives (futures and options) series. For the Nifty Bank, he expects support at 43,850-43,900 levels and a strong base at 43,600-43,750 levels.

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

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Neutral

Singhvi sees a higher zone in the Nifty at 19,300-19,350 levels and a strong sell zone at 19,385-19,450 levels. For the banking index, he sees a higher zone at 44,150-44,250 levels and a strong sell zone at 44,350-44,500 levels.

ANIL SINGHVI MARKET STRATEGY

• FII index longs at 51 per cent vs 46 per cent the previous day

• Nifty put-call ratio (PCR) at 1.19 vs 0.91

• Nifty Bank PCR at 0.79 vs 0.61

• Fear index India VIX up two per cent at 12.06

For existing long positions:

• Nifty intraday and closing stop loss at 19,175

• Nifty Bank intraday stop loss at 43,600 and closing stop loss at 43,850

For existing short positions:

• Nifty intraday and closing stop loss at 19,450

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

For new positions in Nifty:

• Buy Nifty in the 18,975-19,025 range with a stop loss at 18,800 for targets of 19,100, 19,200, 19,235, 19,265 and 19,300

• Aggressive traders can buy Nifty near 19,200 with a strict stop loss at 19,150 for targets of 19,300, 19,340, 19,365, 19,385 and 19,400

• Sell Nifty in the 19,350-19,450 range with a stop loss at 19,500 for targets of 19,300, 19,250, 19,225 and 19,200

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,600-43,850 range with a stop loss at 43,500 for targets of 43,900, 43,950, 44,000, 44,100, 44,150 and 44,250

• Aggressive traders can sell Nifty Bank in the 44,250-44,400 range with a strict stop loss at 44,525 for targets of 44,150, 44,100, 44,000, 43,950, 43,900, 43,850 and 43,750

Stocks in F&O ban:

• Out of ban: BHEL, Indiabulls Housing Finance

• New in ban: None

• Already in ban: None

Stock of the day:

Buy Gujarat Gas futures with a  stop loss at Rs 442 for targets of Rs 455, Rs 460 and Rs 468

• The company has raised industrial gas prices for the second time in a month 
• The price for Morbi customers raised by Rs 2.5/scm to Rs 43.3/scm   
• The new prices applicable from September 1

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