Anil Singhvi strategy October 16: 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 19,625-19,700 levels and a strong buy zone at 19,525-19,600 levels on Monday, October 16. For the Nifty Bank, he expects support at 43,950-44,125 levels and a strong buy zone at 43,600-43,800 levels.

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

Global: Negative
FII: Neutral

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

Singhvi expects a higher zone for the Nifty50 at 19,800-19,840 and a sell zone at 19,900-19,950 levels. For the banking index, he sees a higher zone emerging at 44,400-44,525 levels and a sell zone at 44,575-44,700 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi suggests trimming down market positions amid signs of rising tensions between Israel and Hamas, and elevated crude oil prices. He expects strength int he market to only emerge past 19,850 and 44,800 levels in the Nifty and Nifty Bank indices on a closing basis, respectively.

The market guru expects strong support to emerge for the gauges at 19,450-19,550 and 43,600-43,800 levels, respectively.

FII index long positions at 27 per cent vs 29 per cent the previous day
Nifty put-call ratio (PCR) at 1.14 vs 1.21
Nifty Bank PCR at 0.81 vs 0.94
Fear index India VIX unchanged at 10.62

For existing long positions:

Nifty intraday and closing stop loss at 19,625
Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

Nifty intraday and closing stop loss at 19,850
Nifty Bank intraday and closing stop loss at 44,750

For new positions in Nifty:

Sell Nifty with a stop loss at 19,850 for targets of 19,700, 19,675, 19,635, 19,600, 19,575, 19,550 and 19,525
Aggressive traders can buy Nifty in the 19,550-19,650 range with a strict stop loss at 19,475 for targets of 19,700, 19,725, 19,750, 19,775, 19,800 and 19,835

For new positions in Nifty Bank:

Sell Nifty Bank in the 44,400-44,600 range with a stop loss at 44,750 for targets of 44,300, 44,200, 44,125, 44,000, 43,900, 43,850 and 43,800
Aggressive traders can buy Nifty Bank in the 43,800-44,000 range with a strict stop loss at 43,600 for targets of 44,125, 44,200, 44,275, 44,350, 44,400 and 44,500

Stocks in ban:

New in ban: SAIL
Already in ban: Delta Corp, Sun TV, BHEL, India Cements, Balrampur Chini, Hindustan Copper, L&T Finance, PNB, Manappuram Finance, Indiabulls Housing Finance
Out of ban: None

Result review:

Dalmia Bharat

Results below expectations but operational performance and margins much better
Don’t short at lower levels
Support for stock futures is at Rs 2,250-2,270 and a higher level at Rs 2,325-2,350

Avenue Supermart (D-mart):