Anil Singhvi strategy September 25: 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 19,575-19,650 levels and a strong buy zone at 19,485-19,550 levels on Monday, September 25. For the Nifty Bank, he expects support at 44,325-44,425 levels and a strong buy zone at 44,000-44,200 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 at 19,750-19,800 levels and a strong sell zone at 19,850-19,900 levels for the Nifty. For the banking index, he expects a higher zone at 44,750-44,875 levels and a strong sell zone at 45,000-45,150 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi expects the Nifty and the Nifty Bank to approach their key support levels amid weak signals from domestic as well as global markets. He sees strong support coming in at 19,500-19,600 and 43,800-44,000 for the 50-scrip headline index and the banking index, respectively. Closing levels above 19,900 and 45,400 for the Nifty and the Nifty Bank should be considered the first sign of recovery, respectively, he adds. 

• FII index long positions at 53 per cent vs 56 per cent the previous day

• Nifty put-call ratio (PCR) at 0.93 vs 0.99

• Nifty Bank PCR at 0.71 vs 0.72

• India VIX down 1.5 per cent at 10.66

For existing long positions:

• Nifty intraday stop loss at 19,600 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 19,800

• Nifty Bank intraday and closing stop loss at 45,000

For new positions in Nifty:

• Buy Nifty in the 19,525-19,625 range with a stop loss at 19,425 for targets of 19,675, 19,700, 19,750, 19,800 and 19,850

• Sell Nifty in the 19,750-19,850 range with a stop loss at 19,925 for targets of 19,700, 19,675, 19,650, 19,600, 19,575 and 19,550

For new positions in Nifty Bank:

• Buy Nifty Bank in the 44,200-44,425 range with a stop loss at 44,000 for targets of 44,550, 44,625, 44,750, 44,825, 44,875 and 44,975

• Sell Nifty Bank near 45,000 with a stop loss at 45,150 for targets of 44,900, 44,825, 44,750, 44,675, 44,625 and 44,550

Stocks in F&O ban:

• New in ban: Canara Bank, Granules India

• Out of ban: Balrampur Chini, Zee Entertainment Enterprises, BHEL, PNB

• Already in ban: Hindustan Copper, Manappuram Finance, Delta Corp, Indiabulls Housing Finance

Stock of the day:

Buy Bajaj Finance futures with a stop loss at Rs 7,275 for targets of Rs 7,540, Rs 7,665 and Rs 7,690

• Board meeting on October 5 over fund-raising plan

Sell Delta futures with a stop loss at Rs 177 for targets of Rs 140 and Rs 130

• Delta Corp gets GST demand notices of Rs 16,822 crore 
• Size of tax demand:
  • 2.5 times of total income in last 12 years 
  • 15 times of profit in last 12 years 
  • 8 times of the company’s net worth
  • 3.5 times of the company’s market cap
• Company's existence in danger due to the big notices
• Payment of 25 per cent required for filing an appeal

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