Anil Singhvi strategy October 10: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Here is what Zee Business Managing Editor Anil Singhvi makes of the market today.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,465-19,525 levels and a strong buy zone at 19,340-19,435 levels on Tuesday, October 10. For the Nifty Bank, he expects support at 43,600-43,800 levels and a strong base at 43,350-43,500 levels.

Here's how Anil Singhvi sums up the market setup:

Global: Positive
FII: Negative

TRENDING NOW
DII: Positive
F&O: Neutral
Sentiment: Neutral
Trend: Positive

Singhvi sees a higher zone for the Nifty emerging at 19,575-19,650 levels and a strong sell zone at 19,675-19,765 levels. He pegs a higher zone for the banking index at 44,100-44,225 levels and a strong sell zone at 44,300-44,500 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests traders keep their positions light amid the absence of negative signals about the Israel-Palestine war, and restrict moves to intraday only. He points out that taking overnight positions remains risky and advises buying at lower levels.

He views strong support at 19,350-19,450 and 43.600-43,800 levels for the Nifty50 and the Nifty Bank, and recommends profit-booking at the upper ends of the 19,650-19,750 and 44,400-44,600 ranges, respectively.

FII index long positions unchanged at 27 per cent as the previous day
Nifty put-call ratio (PCR) at 1.04 vs 1.12
Nifty Bank PCR at 0.73 vs 0.88
Fear index India VIX up 11 per cent at 11.40

For existing long positions:

Nifty intraday and closing stop loss at 19,425
Nifty Bank intraday and closing stop loss at 43,600

For existing short positions:

Nifty intraday and closing stop loss at 19,725
Nifty Bank intraday stop loss at 44,150 and closing stop loss at 44,400

For new positions in Nifty:

Buy Nifty with a stop loss at 19,425 for targets of 19,550, 19,575, 19,625, 19,650, 19,675 and 19,725
The best range to sell Nifty is 19,650-19,725 with a stop loss at 19,800 for targets of 19,575, 19,550, 19,525, 19,485, 19,465 and 19,435

For new positions in Nifty Bank:

Buy Nifty Bank with a stop loss at 43,600 for targets of 44,100, 44,150, 44,225, 44,300, 44,350, 44,400 and 44,500
The best range to sell Nifty Bank is 44,200-44,400 with a stop loss at 44,550 for targets of 44,100, 43,950, 43,900, 43,850, 43,800 and 43,600

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