Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,325-24,400 levels and a stronger support zone at 24,150-24,300 levels on Monday, September 1. For the Nifty Bank, the market wizard expects support at 53,350-53,500 followed by a stronger support area at 53,075-53,225 levels.
How market guru Anil Singhvi sums up trade setup:
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Global: Neutral
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FII: Negative
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DII: Positive
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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 9 per cent vs 8 per cent before Friday’s session
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Nifty put-call ratio (PCR) at 0.71 vs 0.75
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Nifty Bank PCR at 0.88 vs 0.96
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Volatility index India VIX down 3.5 per cent at 11.75
The market wizard expects a higher zone at 24,475-24,575 levels and a strong sell zone at 24,600-24,725 for the headline index.
For the banking index, he expects a higher zone at 53,900-54,075 levels and a strong sell zone at 54,375-54,450 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 53,450
For existing short positions:
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Nifty intraday and closing stop loss at 24,600
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Nifty Bank intraday and closing stop loss at 54,100
For new positions in Nifty50:
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Aggressive traders can sell Nifty in the 24,500-24,625 range with a strict stop loss at 24,725 for targets of 24,425, 24,400, 24,365, 24,335, 24,300 and 24,275
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Aggressive traders can buy Nifty in the 24,325-24,400 range with a strict stop loss at 24,250 for targets of 24,475, 24,500, 24,535, 24,575, 24,625 and 24,700
For new positions in Nifty Bank:
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Aggressive traders can sell Nifty Bank in the 53,900-54,100 range with a strict stop loss at 54,250 for targets of 53,775, 53,650, 53,600, 53,500, 53,350, 53,225 and 53,075
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Aggressive traders can buy Nifty Bank in the 53,175-53,350 range with a strict stop loss at 53,000 for targets of 53,600, 53,650, 53,750, 53,825, 53,900 and 54,075
No stock in F&O ban
