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 Tuesday, September 26. For the Nifty Bank, he expects support at 44,400-44,550 levels and a strong base at 44,200-44,325 levels.

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

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Cautious
  • Trend: Positive

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Singhvi sees a higher zone coming in at 19,735-19,800 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 44,950-45,075 levels and a strong sell zone at 45,275-45,375 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi points out that the Nifty and the Nifty Bank are approaching key support levels amid easing FII outflows but persistent weakness in global markets.   

He expects strong support for the Nifty and the Nifty Bank at 19,450-19,550 and 43,800-44,000 levels, respectively. One may consider closing levels above 19,900 and 45,400  as the first sign of recovery, he adds.

  • FII index long positions at 49 per cent vs 53 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.91 vs 0.93
  • Nifty Bank PCR at 0.82 vs 0.71
  • Fear index India VIX up two per cent at 10.90

For existing long positions:

  • Nifty intraday stop loss at 19,575 and closing stop loss at 19,500
  • Nifty Bank intraday stop loss at 44,400 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, 19,740, 19,775, 19,800 and 19,850
  • Sell Nifty in the 19,740-19,800 range with a stop loss at 19,900 for targets of 19,700, 19,675, 19,650, 19,600, 19,575 and 19,550

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank in the 44,400-44,550 range with a strict stop loss at 44,300 for targets of 44,625, 44,750, 44,825, 44,875, 44,925 and 45,000
  • Aggressive traders can sell Nifty Bank in the 44,925-45,075 range with a strict stop loss at 45,150 for targets of 44,825, 44,750, 44,675, 44,625, 44,550 and 44,400

Stocks in F&O ban:

  • New in ban: Balrampur Chini
  • Out of ban: Delta Corp, Manappuram Finance
  • Already in ban: Canara Bank, Granules India, Hindustan Copper, Indiabulls Housing Finance

Stock of the day:

Buy Selan Exploration shares with a stop loss at Rs 385 for targets of Rs 399, Rs 408 and Rs 420

  • Merger with Antelopus Energy approved
  • Acquisition will be EPS accretive
  • Higher crude prices also a big positive

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