Market Strategy by Anil Singhvi October 15: Key levels to track in Nify50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 headline index to emerge at 24,975-25,050 levels and a strong buying position at 24,850-24,950 levels on Tuesday, October 15.

In Nifty Bank, expect support at 51,525-51,675 levels and strong buying position at 51,225-51,475 levels.

Here’s how the market guru summed up the trade setup this morning:

• Global: Good

• FII: Bad

• DII: Good

• F&O: Neutral

• Feeling: Neutral

• Trend: Neutral

• Long FII positions at 35 percent compared to 36 percent the previous day

• Nifty put-call ratio (PCR) at 0.90 vs 0.84

• Nifty Bank put-call ratio (PCR) at 1.00 vs 0.71

• The Volatility India VIX index was down 1 percent at 13.09

The market wizard sees a high point for the headline index at 25,200-25,300 levels and a strong selling point at 25,325-25,425 levels.

With the bank index, you see a high area at 51,950-52,075 levels and a profit booking area at 52,150-52,275 levels.

MARKETING STRATEGIES

For existing long positions:

• Nifty intraday and closing loss at 24,950

• Nifty Bank intraday and closing loss at 51,450

With short positions available:

• Nifty intraday and closing loss at 25,250

• Nifty Bank intraday and closing loss at 52,000

For new positions in Nifty50:

• Buy Nifty with stop loss at 24,950 to find targets of 25,160, 25,225, 25,250, 25,300, 25,335 and 25,375

• Aggressive traders can sell Nifty in the range of 25,225-25,325 with strong stop loss at 25,425 with targets of 25,175, 25,125, 25,025, 25,000, 24,975 and 24,950

For new positions in Nifty Bank:

• The best buying range for Nifty Bank is 51,475-51,675 with stop loss at 51,200 against targets of 51,800, 51,875, 52,075, 52,150, 52,200 and 52,275

• Aggressive traders can sell Nifty Bank in the range of 52,075-52,275 with a strong stop loss at 52,400 against the targets of 51,950, 51,875, 51,800, 51,700, 51,575 and 51,500