Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,275-24,335 and a strong buy zone at 24,050-24,200 levels on Monday, August 11. For the Nifty Bank, the market wizard expects support at 54,575-54,700 levels and a stronger support zone at 54,275-54,500 levels.
How market guru Anil Singhvi sums up trade setup:
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Global: Positive
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FII: Neutral
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DII: Neutral
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F&O: Neutral
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Sentiment: Negative
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Trend: Neutral
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FII long positions at 8 per cent vs 9 per cent before Friday’s session
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Nifty put-call ratio (PCR) at 0.72 vs 1.11
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Nifty Bank PCR at 0.80 vs 0.89
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Volatility index India VIX up 3 per cent at 12.03
The market wizard expects a higher zone at 24,450-24,550 levels and a strong sell zone at 24,575-24,725 levels for the headline index.
For the banking index, he expects a higher zone at 55,200-55,350 levels and a profit-booking zone at 55,425-55,625 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
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Nifty intraday and closing stop loss at 24,300
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Nifty Bank intraday and closing stop loss at 54,800
For existing short positions:
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Nifty intraday and closing stop loss at 24,650
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Nifty Bank intraday and closing stop loss at 55,650
For new positions in Nifty50:
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The best range to sell Nifty is 24,500-24,635 with a stop loss at 24,750 for targets of 24,450, 24,375, 24,335, 24,275, 24,200 and 24,150
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Aggressive traders can buy Nifty in the 24,150-24,275 range with a strict stop loss at 24,000 for targets of 24,325, 24,365, 24,450, 24,500, 24,550 and 24,575
For new positions in Nifty Bank:
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Aggressive traders can sell Nifty Bank in the 55,375-55,600 range with a strict stop loss at 55,750 for targets of 55,225, 55,150, 55,000, 54,900, 54,700 and 54,575
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Aggressive traders can buy Nifty Bank in the 54,575-54,700 range with a strict stop loss at 54,450 for targets of 54,900, 54,975, 55,150, 55,200, 55,350 and 55,525
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