Anil Singhvi strategy October 5: 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.

Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the Nifty at 19,225-19,300 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,340-19,385 levels and a strong buy zone at 19,225-19,300 levels on Thursday, October 5. For the Nifty Bank, he expects a strong buy zone at 43,600-43,850 levels.

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

Global: Positive
FII: Negative

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

Singhvi sees a higher zone in the 50-scrip index at 19,485-19,550 levels and a strong sell zone at 19,600-196,75 levels. He pegs a higher zone in the banking index at 44,150-44,250 levels and a strong sell zone at 44,300-44,525 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi points out that the market finds important support at the August 31 lows and that Thursday's session is going to be a significant one amid persistently heavy selling by FIIs, though participants can expect some support from easing crude oil prices and a recovery in global equities.

He expects strong support for the Nifty and the Nifty Bank to emerge at 19,225-19,350 and 43,600-43,800 levels, but warns that the trend may change if the indices give up the 19,250 and 43,600 levels on a closing basis, respectively. Investors may put 25-33 per cent of their funds in the support range, Singhvi adds.

#EditorsTake

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FII index long positions at 25 per cent vs 24 per cent the previous day
Nifty put-call ratio (PCR) at 0.96 vs 0.91
Nifty Bank PCR at 0.81 vs 0.78
Fear index India VIX down one per cent at 11.66

For existing long positions:

Nifty intraday stop loss at 19,300 and closing stop loss at 19,250
Nifty Bank intraday stop loss at 43,800 and closing stop loss at 43,600

For existing short positions:

Nifty intraday and closing stop loss at 19,675
Nifty Bank intraday stop loss at 44,200 and closing stop loss at 44,625

For new positions in Nifty:

Buy Nifty with a stop loss at 19,300 for targets of 19,465, 19,485, 19,525, 19,550, 19,600 and 19,625
The best range to sell Nifty is 19,600-19,675 with a stop loss at 19,775 for targets of 19,550, 19,525, 19,485, 19,465, 19,435, 19,385 and 19,365

For new positions in Nifty Bank:

Buy Nifty Bank with a stop loss at 43,600 for targets of 44,150, 44,250, 44,300, 44,350, 44,400, 44,525 and 44,575
The best range to sell Nifty Bank is 44,400-44,575 with a stop loss at 44,750 for targets of 44,300, 44,250, 44,175, 44,000, 43,950 and 43,850

Stocks of the day:

New in ban: Delta Corp, Manappuram Finance
Already in ban: Indiabulls Housing Finance
Out of ban: None

Stocks of the day:

Sell Navin Fluorine futures with a stop loss at Rs 3,870 for targets of Rs 3,810, Rs 3,785 and Rs 3,725

Execution will be affected in the near term
Global challenges also making things difficult
Jefferies has double-downgraded the stock to 'hold' from 'buy' , and reduced its price target to Rs 3,625 from Rs 5,475

Buy RBL Bank shares with a stop loss at Rs 247 for targets of Rs 255, Rs 258 and Rs 260