Anil Singhvi Market Strategy October 24: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about 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 expects support for the headline Nifty50 index to emerge at 24,300-24,375 levels and a strong buy zone at 24,050-24,200 levels on Thursday, October 24.
For the Nifty Bank, he expects support at 50,900-51,050 levels and a strong buy zone at 50,375-50,575 levels.
The market wizard sees a higher zone for the headline index at 24,475-24,600 levels and a strong sell zone at 24,675-24,775 levels. For the banking index, he sees a higher zone at 51,550-51,700 levels and a strong sell zone at 51,800-51,975 levels.
Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.
Anil Singhvi Market Strategy | Here is how the market guru sums up the market setup today
Global: Negative
FII: Neutral
DII: Positive
F&O: Neutral
Sentiment: Negative
Trend: Neutral
FII long positions at 33 per cent vs 32 per cent before the previous session
Nifty put-call ratio (PCR) at 0.79 vs 0.73
Nifty Bank PCR at 0.85 vs 0.59
Volatility index India VIX up 1.5 per cent at 14.62
EDITOR'S TAKE | What should investors and traders do?
The market guru believes that traders will get ample opportunities on both sides of the flatline as the earnings season gathers steam on Dalal Street.
He suggests investors focus on stock- and sector-specific action for now, using a second bout of cash near the 24,000 mark on Nifty50.
Anil Singhvi Market Strategy | For existing long positions
Nifty intraday stop loss 24,350 and closing stop loss at 24,400
Nifty Bank intraday and closing stop loss at 50,900
Anil Singhvi Market Strategy | For existing short positions
Nifty intraday and closing stop loss at 24,625
Bank Nifty intraday and closing stop loss at 51,600
Anil Singhvi Market Strategy | For new positions in Nifty 50
The best range to buy Nifty is 24,050-24,200 with a stop loss at 23,900 for targets of 24,300, 24,400, 24,450, 24,475, 24,525 and 24,575
Aggressive traders can buy Nifty with a strict stop loss at 24,350 for targets of 24,475, 24,575, 24,600, 24,675, 24,725 and 24,775
Aggressive traders sell Nifty in the 24,575-24,675 range with a strict stop loss at 24,800 for targets of 24,525, 24,475, 24,450, 24,375, 24,300 and 24,200
Anil Singhvi Market Strategy | For new positions in Nifty Bank
The best range to buy Nifty Bank is 50,375-50,575 with a stop loss at stop loss at 50,200 for targets of 50,900, 51,000, 51,125, 51,175 and 51,250
Aggressive traders can buy Nifty Bank with a strict stop loss at 50,900 for targets of 51,475, 51,550, 51,700, 51,800, 51,900 and 51,975
Aggressive traders can sell Nifty Bank in the 51,600-51,800 range with a strict stop loss at 52,000 for targets of 51,500, 51,350, 51,275, 51,100, 51,025 and 50,900
Stocks in F&O ban
New in ban: NMDC
Out of ban: Chambal Fertilisers, L&T Finance, PNB
Already in ban: IndiaMart, RBL Bank, Manappuram Finance, Piramal Enterprises, Aarti Industries, Birlasoft, Bandhan Bank, IEX, GNFC