Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,485-19,525 levels and a strong buy zone at 19,435-19,465 levels on Thursday, September 7. For the Nifty Bank, he expects support at 44,000-44,200 levels and a strong buy zone at 43,750-43,850 levels.

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

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

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Singhvi sees a higher zone in the Nifty at 19,600-19,650  levels and a strong sell zone at 19,700-19,775 levels. For the banking index, he sees a higher zone at 44,500-44,575 levels and a strong sell zone at 44,650-44,775 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests traders book profit at higher levels amid weak signals from Wall Street, crude oil and the dollar index, and persistent FII outflows. He recommends adopting a 'buy on dips' strategy near key support levels as the Nifty is in the upper range of its recent trading range of 19,650-19,750.

The market expert expects strong support for the Nifty and the Nifty Bank coming in at 19,365-19,465 and 43,850-44,000 levels, respectively.

Singhvi suggests traders book profits in the banking index at the upper end of the 44,575-44,775 range but wait for the right support levels patiently before buying.  

  • FII index long positions at 51 per cent vs 52 per cent the previous day
  • Nifty put-call rato (PCR) 1.32 vs 1.41 on a higher side
  • Nifty Bank PCR 0.9 vs 0.91
  • India VIX down 1.27 per cent at 10.68

For existing long positions:

  • Nifty intraday stop loss at 19,465 and closing stop loss at 19,400
  • Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday stop loss at 19,700 and closing stop loss at 19,650
  • Nifty Bank intraday and closing stop loss at 44,700

For new positions in Nifty:

  • Aggressive traders can sell Nifty with a strict stop loss at 19,700 for targets of 19,575, 19,550, 19,525, 19,485, 19,465, 19,435 and 19,400
  • The best range to buy Nifty is 19,435-19,500 with a stop loss at 19,340 for targets of 19,525, 19,545, 19,575, 19,600, 19,625 and 19,650

For new positions in Nifty Bank:

  • The best range to sell Nifty Bank is 44,575-44,775 with a stop loss at 44,850 for targets of 44,525, 44,425, 44,325, 44,200, 44,125, 44,075 and 44,000
  • Aggressive traders can sell Nifty Bank with a strict stop loss at 44,600 for targets of 44,325, 44,200, 44,125, 44,075, 44,000, 43,950, 43,900 and 43,850
  • The best range to buy Nifty Bank is at 43,850-44,000 with a stop loss at 43,700 for targets of 44,075, 44,125, 44,200, 44,300, 44,425, 44,500 and 44,575

Stocks in F&O ban:

  • New in ban: Manappuram, SAIL

    Already in ban: Delta Corp, Balrampur Chini, BHEL, Hindustan Copper, Indiabulls Housing Finance, India Cement

  • Out of ban: None

Stock of the day: 

Buy Kaynes Technology shares with a stop loss at Rs 1,895 for targets of Rs 1,940, Rs 1,960, Rs 1,975 and Rs 1,995

  • CLSA initiated coverage with a 'buy' call and a target of Rs 2,230
  • The company is set for long-term growth with a diversified business model

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