Anil Singhvi Market Strategy September 12: 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. 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 expects support for the headline Nifty50 index to emerge at 24,850-24,925 levels and a strong buy zone at 24,750-24,800 levels on Thursday, September 12. For the Nifty Bank, he expects support to come in at 50,850-50,950 levels and a strong buy zone at 50,375-50,575 levels.
The market wizard sees a higher zone at 25,050-25,125 levels and a profit-booking zone at 25,150-25,235 levels for the headline index. For the banking index, he sees a higher zone at 51,275-51,425 levels and a strong sell zone at 51,475-51,675 levels.
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Here's how the market guru sums up the trade setup this morning
Global: Positive
FII: Neutral
DII: Neutral
F&O: Neutral
Sentiment: Neutral
Trend: Positive
FII long positions unchanged at 64 per cent as the previous day
Nifty put-call ratio (PCR) at 0.88 vs 1.07
Nifty Bank PCR at 0.85 vs 0.90
India VIX up two per cent at 13.63
MARKET STRATEGY | For existing long positions
Nifty intraday and closing stop loss at 24,850
Nifty Bank intraday and closing stop loss at 50,900
MARKET STRATEGY | For existing short positions
Nifty intraday and closing stop loss at 25,150
Nifty Bank intraday and closing stop loss at 51,500
MARKET STRATEGY | For new positions in Nifty50
Buy Nifty with a stop loss at 24,850 for targets of 25,000, 25,050, 25,125, 25,175, 25,200 and 25,235
The best range to sell Nifty is 25,125-25,235 with a stop loss at 25,325 for targets of 25,050, 25,000, 24,950, 24,925, 24,900 and 24,850
MARKET STRATEGY | For new positions in Nifty Bank
Aggressive traders can buy Nifty Bank with a strict stop loss at 50,900 for targets of 51,125, 51,200, 51,275, 51,375, 51,475 and 51,575
Aggressive traders can sell Nifty Bank in the 51,375-51,575 range with a strict stop loss at 51,750 for targets of 51,275, 51,200, 51,125, 51,025 and 50,950
Stocks in F&O ban
New in ban: Aarti Industries
Out of ban: Biocon
Already in ban: Balrampur Chini, Hindustan Copper, AB Fashion, RBL Bank, Bandhan Bank, Chambal Fertilisers
What to make of wild swings on Wall Street? Should Dalal Street investors worry?
Strong views about both buying and selling in US market
Wall Street participants overreacting to every dataset
Seesaw moves to continue until this month's Fed meeting
Keep light positions
Important to keep positions with proper hedging
IT and metal stocks expected to stage big moves on Thursday
Investor response to Bajaj Housing IPO a warning sign?
Euphoria about the IPO is being compared with that about Reliance Power's public offer in 2007
Both IPOs different in quality
Business environment has changed completely
Today, we have an exponentially larger number of investors with much more money
Investors should only worry when a bad IPO gets a phenomenal response
Another small IPO this year getting strong response a cause for concern
Stock of the Day | Buy Shaily Engineering shares
The market wizard suggests buying Shaily Engineering shares with a stop loss at Rs 943 for targets of Rs 970 and Rs 980.
Motilal Oswal has purchased 3.1 lakh Shaily Engineering shares (representing 0.67 per cent of the company's equity) at Rs 950 per share.
Stock of the Day | Buy Chola futures
The market guru suggests buying Chola futures with a stop loss at Rs 1,505 for targets of Rs 1,535, Rs 1,550 and Rs 1,565.
Jefferies has maintained a 'buy' rating and raised its target for the stock to Rs 1,800 from Rs 1,685.
Stock of the Day | Buy Bajaj Finance futures
The market wizard suggests buying Bajaj Finance futures with a stop loss at Rs 7,300 for targets of Rs 7,420 and Rs 7,490.
Nomura has maintained a 'neutral' rating on the tock with a revised target of Rs 7,500 instead of the Rs 7,200 earlier.
Stock of the Day | Buy IEX futures
The market guru suggests buying IEX futures with a stop loss at Rs 206 for targets of Rs 216, Rs 219 and Rs 224.
The stock appears to be in a strong uptrend with the company having made an impressive presentation to investors.
EDITOR'S TAKE
A big gap-up opening can lead to significant profit-taking too
Strong moves to continue if Nifty50 and Nifty Bank take out 25,150 and 51,500 levels on a closing basis
Typically, the market stages strong moves around Ganpati festival
Traders to get opportunities on both sides
Important that Nifty50 logs a weekly F&O expiry above 25,000