Anil Singhvi strategy September 5: 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 coming in at 19,435-19,465 levels and a strong buy zone at 19,340-19,385 levels on Tuesday, September 5. For the Nifty Bank, he expects support at 44,300-44,425 levels and a strong buy zone at 44,000-44,200 levels.
Here's how Anil Singhvi sums up the market setup:
- Global: Neutral
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Positive
- Trend: Neutral
Singhvi sees a higher zone in the Nifty at 19,550-19,625 levels and a strong sell zone at 19,650-19,725 levels. For the banking index, he sees a higher zone at 44,675-44,775 levels and a strong sell zone at 44,850-45,000 levels.
ANIL SINGHVI MARKET STRATEGY
Singhvi sees the next big targets for the Nifty and the Nifty Bank coming in at 19,650-19,775 and 44,800-45,000 levels, respectively.
- FII index long positions at 52 per cent vs 51 per cent the previous day
- Nifty put-call ratio (PCR) on the higher side, at 1.37 vs 1.30
- Nifty Bank PCR at 1.16 vs 1.13
- India VIX down 3.5 per cent at 10.96
For existing long positions:
- Nifty intraday and closing stop loss at 19,400
- Nifty Bank intraday stop loss at 44,300 and closing stop loss at 44,000
For existing short positions:
- Nifty intraday and closing stop loss at 19,650
- Nifty Bank intraday and closing stop loss at 44,700
For new positions in Nifty:
- The best range to buy Nifty is 19,400-19,465 with a stop loss at 19,300 for targets of 19,500, 19,525, 19,550, 19,600, 19,625 and 19,650
- The best range to sell Nifty is 19,565-19,650 with a stop loss at 19,750 for targets of 19,525, 19,500, 19,465, 19,435, 19,400 and 19,365
For new positions in Nifty Bank:
- For aggressive traders, the best range to buy Nifty Bank is 44,300-44,425 with a stop loss at 44,175 for targets of 44,500, 44,575, 44,650, 44,725, 44,775, 44,850 and 44,950
- The best range to sell Nifty Bank is 44,775-44,950 with a stop loss at 45,000 for targets of 44,725, 44,675, 44,625, 44,575, 44,500, 44,425 and 44,325
Stocks in F&O ban:
- New in ban: Balrampur Chini, BHEL, Hindustan Copper, India Cements
- Already in ban: Indiabulls Housing Finance
- Out of ban: None
Stocks of the day:
Buy Raymond shares with a stop loss at Rs 1,950 for targets of Rs 2,020, Rs 2,040 and Rs 2,075
- Buy reports from Jefferries and Motilal Oswal Financial Services with targets of Rs 2,600
Buy Grasim futures with a stop loss at Rs 1,840 for targets of Rs 1,879, Rs 1,894 and Rs 1,910
- Caustic soda prices on an upswing
- VSF prices improving as well
- The paints business set to launch around Diwali in some parts of the country
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