Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 headline index to emerge at 24,300-24,375 levels and a firm buying zone at 24,050-24,200 levels on Friday, October 25. For Nifty Bank, he expects support at 51,100 levels -51,25,25 and a strong buying position at 50,900-51,000 levels.
Here’s how the market guru summed up the trade setup this morning:
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Global: Neutral
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FII: Bad
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DII: Good
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F&O: Neutral
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Feeling: Bad
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Trend: Neutral
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Long FII positions at 35 percent compared to 33 percent before the previous session
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Nifty put-call ratio (PCR) at 1.00 vs 0.79
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Nifty Bank PCR at 0.92 vs 0.85
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The Volatility India VIX index was down 5 percent at 13.97
The market wizard sees a high area for the headline index at 24,475-24,600 levels and a strong selling area at 24,675-24,775 levels. For the bank index, you see a high zone coming in at 51,775-51,975 levels and a strong sell zone at 52,100-52,250 levels.
MARKETING STRATEGIES
For existing long positions:
- Nifty intraday stop loss at 24,300 and intraday stop loss at 24,400
- Nifty Bank intraday and closing loss at 51,000
With short positions available:
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Nifty intraday stop loss at 24,525 and intraday stop loss at 24,600
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Nifty Bank intraday and closing loss at 51,800
For new positions in Nifty50:
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Best buy range for Nifty is 24,200-24,300 with stop loss at 24,100 with target of 24,350, 24,375, 24,400, 24,450, 24,475 and 24,575
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Aggressive traders can buy Nifty with strong stop loss at 24,300 with targets of 24,450, 24,475, 24,575, 24,600, 24,675 and 24,700
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Aggressive traders can sell Nifty in the range of 24,475-24,600 with strong stop loss at 24,700 with targets of 24,440, 24,400, 24,375, 24,350, 24,300 and 24,200
For new positions in Nifty Bank:
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The best buying range for Nifty Bank is 51,000-51,250 with a stop loss at 50,900 with targets of 51,350, 51,475, 51,525, 51,575, 51,700 and 51,775
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Aggressive traders can buy Nifty Bank with strong stop loss at 51,100 with targets of 51,675, 51,775, 51,900, 51,975, 52,100, 52,175 and 52,250.
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Aggressive traders can sell Nifty Bank at 51,775-51,975 with strong stop loss at 52,100 in terms of 51,700, 51,575, 51,525, 51,275, 51,200 and 51,100
Stocks on F&O ban
- New to the ban: Escorts
- Without restriction: Birlasoft, GNFC
- Already banned: NMDC, IndiaMart, RBL Bank, Manappuram Finance, Piramal Enterprises, Aarti Industries, Bandhan Bank, IEX
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