Anil Singhvi strategy September 22: Important levels to track in Nifty, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for todays session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,550-19,650 levels and a strong buy zone at 19,435-19,525 levels on Friday, September 22. For the Nifty Bank, he expects support at 44,200-44,425 levels and a strong buy zone at 43,950-44,125 levels.
Here's how Anil Singhvi sums up the market setup:
- Global: Negative
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Negative
- Trend: Positive
Singhvi sees a higher zone coming in for the Nifty at 19,750-19,800 levels and a strong sell zone at 19,850-19,900 levels. For the banking index, he expects a higher zone at 44,825-44,950 levels and a strong sell zone at 45,275-45,375 levels.
ANIL SINGHVI MARKET STRATEGY
- FII index longs at 56 per cent vs 61 per cent the previous day
- Nifty put-call ratio (PCR) at 0.99 vs 0.80
- Nifty Bank PCR at 0.72 vs 0.82
- Fear index India VIX up three per cent at 10.82
For existing long positions:
- Nifty intraday stop loss at 19,700 and closing stop loss at 19,500
- Nifty Bank intraday and closing stop loss at 44,500
For existing short positions:
- Nifty intraday and closing stop loss at 19,900
- Nifty Bank intraday stop loss at 45,000 and closing stop loss at 45,400
For new positions in Nifty:
- Sell Nifty with a stop loss at 19,850 for targets of 19,700, 19,650, 19,625, 19,600, 19,550 and 19,525
- Aggressive traders can buy Nifty in the 19,525-19,650 range with a strict stop loss at 19,425 for targets of 19,700, 19,750, 19,800, 19,820, 19,850 and 19,875
For new positions in Nifty Bank:
- Sell Nifty Bank with a stop loss at 45,000 for targets of 44,525, 44,425, 44,325, 44,200, 44,125 and 44,000
Aggressive traders can buy Nifty Bank in the 44,000-44,200 range with a strict stop loss at 43,900 for targets of 44,325, 44,425, 44,500, 44,600, 44,675 and 44,775
Stocks in F&O ban:
- Out of ban: Chambal Fertilisers
- Already in ban: Hindustan Copper, PNB, Delta Corp, Balrampur Chini, BHEL, Zee Entertainment Enterprises, Manappuram, Indiabulls Housing Finance
- New in ban: None
Stock of the day:
Buy PNB Gilts shares with a stop loss at Rs 66 for targets of Rs 75, Rs 78 and Rs 81
- JPMorgan adds India to its emerging market bond index
Listing previews:
SAMHI Hotels
- Expected to list around a little above the issue price of Rs 126
- Short-term investors can keep a stop loss at Rs 125
- We asked high risk investors to hold for two years
Zaggle Prepaid Ocean Services
- Expected to list in the Rs 170-175 range
- Short-term investors can keep a stop loss at the issue price of Rs 164
- We asked high risk Investors to apply for the long term
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