Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,600-19,650 levels and a strong buy zone at 19,525-19,575 levels on Friday, September 8. For the Nifty Bank, he expects support at 44,625-44,775 levels and a strong buy zone at 44,425-44,575 levels.

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

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

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Singhvi sees a higher zone in the Nifty at 19,750-19,800 levels and a profit-booking zone at 19,830-19,885 levels. For the banking index, he sees a higher zone at 45,000-45,175 levels and a profit-booking zone at 45,225-45,350 levels.

ANIL SINGHVI MARKET STRATEGY  

Singhvi points out that the recovery from lower levels in the past two days has strengthened market sentiment, with the Nifty being at the final resistant levels in the 18,800-20,000 zone. He suggests adopting a 'buy on dips' strategy from the first strong support itself, placed at 19,450-19,550 and 44,300-44,500 levels respectively.

He views the 45,350-45,550 range as the upper target for the banking index. 

 

  • FII index longs position at 57 per cent vs 51 per cent the previous day
  • Nifty put-call ratio (PCR) 1.39 vs 1.32, on a higher side
  • Nifty Bank PCR 1.32 vs 0.90
  • India VIX up two per cent at 10.87

For existing long positions:

  • Nifty intraday and closing stop loss at 19,500
  • Nifty Bank intraday and closing stop loss at 44,400

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:

  • The best range to buy Nifty is 19,600-19,650 with a stop loss at 19,575 for targets of 19,750, 19,775, 19,800, 19,830, 19,865, 19,885 and 19,975
  • Aggressive traders can sell Nifty in the 19,800-19,885 range with a strict stop loss at 20,000 for targets of 19,775, 19,750, 19,725, 19,700, 19,650, 19,625 and 19,600

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 44,525-44,675 with a stop loss at 44,400 for targets of 44,950, 45,000, 45,075, 45,125, 45,175, 45,225, 45,300 and 45,350
  • For aggressive traders, the best range to sell Nifty Bank is 45,175-45,350 with a strict stop loss at 45,550 for targets of 45,125, 45,075, 45,000, 44,950, 44,875, 44,775, 44,675 and 44,575

Stocks in F&O ban:

  • New in ban: PNB
  • Already in ban: Manappuram, SAIL, Delta Corp, Balrampur Chini, BHEL, Hindustan Copper, Indiabulls Housing Finance, India Cements
  • Out of ban: None

Stock of the day: 

Buy PVR-INOX futures with a stop loss at Rs 1,840 for targets of Rs 1,875, Rs 1,890 and Rs 1,900

  • A third consecutive good month for multiplexes
  • Good response to recently released 'Jawan'

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