Market Strategy by Anil Singhvi November 12: Key levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline index Nifty50 to emerge at 24,000-24,075 levels and a strong buying zone at 23,800-23,850 levels on Tuesday, November 12. For Nifty Bank, he expects support at 51,475- 51,57,57 and strong buying zone 51,100-51,300 levels.
Here’s how the market guru summed up the trade setup this morning:
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Global: Good
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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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FII long positions by 25 percent compared to 24 percent before Monday’s session
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The Nifty put-call ratio (PCR) was unchanged at 0.91
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Nifty Bank PCR at 0.86 vs 0.70
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The Volatility India VIX index was down 1.5 percent at 14.27
The market wizard sees a high point for the headline index at 24,235-24,335 levels and a strong selling point at 24,375-24,475 levels.
With the bank index, you see a high area at the levels of 52,000-52,175 and a strong selling area at the levels of 52,350-52,475.
MARKETING STRATEGIES
For existing long positions:
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Nifty intraday and closing loss at 23,975
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Nifty Bank intraday stop loss in 51,450 and closing stop loss in 51,200
With short positions available:
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Nifty intraday stop loss at 24,350 and closing stop loss at 24,500
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Nifty Bank intraday and closing loss at 52,200
For new positions in Nifty50:
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Buy Nifty in two steps at 23,850 and 24,000 with stop loss at 23,750 with targets of 24,075, 24,140, 24,200, 24,275, 24,300 and 24,340
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Aggressive traders can sell Nifty in the range of 24,300-24,400 with strong stop loss at 24,500 with targets of 24,225, 24,200, 24,150, 24,075 and 24,000
For new positions in Nifty Bank:
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Aggressive traders can buy Nifty Bank in the range of 51,300-51,500 with strong stop loss at 51,100 in terms of 51,675, 51,800, 51,875, 52,000, 52,100, 52,135 and 520.
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Aggressive traders can sell Nifty Bank in the range of 52,175-52,350 with a strong stop loss at 52,500 in terms of 52,000, 51,900, 51,800, 51,675, 51,575, 51,500 and 5.
Stocks on F&O ban.
- New in ban: Hindustan Copper, Aarti Industries
- Already banned: Manappuram Finance, Granules India, AB Fashion
- Without restriction: None
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