Anil Singhvi strategy September 29: 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 19,365-19,435 levels.

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 19,365-19,435 levels on Friday, September 29. For the Nifty Bank, he expects support at 44,000-44,200 levels and a strong buy zone at 43,600-43,825 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 coming in at 19,550-19,635 levels and a strong sell zone at 19,675-19,765 levels for the Nifty. For the banking index, he expects a higher zone at 44,400-44,525 levels and a profit-booking zone at 44,600-44,750 levels.

ANIL SINGHVI MARKET STRATEGY

Singhvi expects strong support to emerge at 19,250-19,350 and 43,600-43,800 levels for the Nifty and the Nifty Bank, and believes that only closing levels above 19,800 and 45,000 should be considered the first sign of a recovery.

FII index long positions at 31 per cent vs 45 per cent the previous day
Nifty put-call ratio (PCR) at 0.98 vs 1.07
Nifty Bank PCR at 0.76 vs 0.83
India VIX up 10 per cent at 12.82

For existing long positions:

Nifty intraday stop loss at 19,400 and closing stop loss at 19,500
Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

Nifty intraday and closing stop loss at 19,800
Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

The best range to buy Nifty is at 19,435-19,500 with a stop loss at 19,350 for targets of 19,550, 19,600, 19,635, 19,675, 19,700 and 19,735
The best range to sell Nifty is at 19,665-19,735 with a stop loss at 19,800 for targets of 19,635, 19,600, 19,550, 19,525, 19,500 and 19,465

For new positions in Nifty Bank:

The best range to buy Nifty Bank is 43,825-44,000 with a stop loss at 43,600 for targets of 44,125, 44,225, 44,300, 44,400, 44,525 and 44,600
The best range to sell Nifty Bank is at 44,600-44,750 levels with a stop loss at 44,825 for targets of 44,525, 44,400, 44,300, 44,250, 44,125 and 44,000

Stocks in F&O ban:

Out of ban: Delta Corp, India Cements
New in ban: None
Already in ban: None

Stocks of the day:

Sell Navin Fluorine shares in the cash segment with a stop loss at Rs 4,445 for targets of Rs 4,200, Rs 4,075, Rs 4,000 and Rs 3,930

Radhesh R Welling has resigned from the post of MD

Sell MCX shares in the cash segment with a stop loss at Rs 2,120 for targets of Rs 2,025, Rs 2,000 and Rs 1,950

New platform suggested to be postponed for now
Suggestions given while the case is pending in the Madras High Court
MCX has accepted Sebi’s suggestion

What to expect in the October series:

The October series has seen strong moves in nine out of the past 10 years
The series has seen positive moves for four back-to-back years, from 2019 to 2022
FII index long positions are at 31 per cent, lowest since April
The market has begun new series with light positions

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