Anil Singhvi’s Strategy October 12: Day support zone on Nifty is 17,800-17,850 & Bank Nifty is 37,925-38,125
Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), future & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, October 12, 2021.
Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), future & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, October 12, 2021.
Domestic equity markets scaled fresh lifetime highs on Monday, October 11, 2021, and ended with decent gains. The Nifty 50 index vaulted above the 18,000-mark for the first time in its history and hit a record high of 18,041.95.
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The S&P BSE Sensex closed 76.72 points or 0.13 per cent higher at 60,135.78. The Nifty 50 index settled 50.75 points or 0.28 per cent higher at 17,945.95. The Bank Nifty rose 518.55 points or 1.37 per cent to 38,293.80. The broader markets outperformed the Sensex at the BSE with the BSE MidCap closing 0.55 per cent higher and SmallCap ending 0.60 per cent higher.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 12:
Day support zone on Nifty is 17,800-17,850, below that 17,700-17,750 is a strong Buy zone.
Day higher zone on Nifty is 18,000-18,040, above that 18,100-18,175 is a strong Profit booking zone.
Day support zone on Bank Nifty is 37,925-38,125, below that 37,750-37,825 is a strong Buy zone.
Day higher zone on Bank Nifty is 38,375-38,500, above that 38,575-38,650 is a strong Profit booking zone.
The small day range for trading on Nifty is 17,850-18,000, while the medium and bigger day ranges are 17,800-18,040 and 17,750-18,100, respectively.
The small day range for trading on Bank Nifty is 38,100-38,500, while the medium and bigger day ranges are 37,925-38,575 and 37,750-38,650, respectively.
FIIs increase Index long position at 64% Vs 59%.
PCR at 1.3 Vs 1.3.
India VIX up 2.76% at 16.09.
For Existing Long Positions:
Nifty Intraday and Closing stop loss are 17,750.
Bank Nifty Intraday and Closing stop loss are 38,000.
For Existing Short Positions:
Nifty Intraday and Closing stop loss are 18,050.
Bank Nifty Intraday and Closing stop loss are 38,500.
For New Positions:
Buy Nifty in 17,750-17,800 range with a stop loss of 17,700 and target 17,840, 17,900, 17,940, 18,000, 18,040.
Aggressive Traders Buy Nifty on gap down opening with a strict stop loss of 17,750 and target 18,000, 18,040, 18,100, 18,175.
Aggressive traders Sell Nifty with a stop loss of 18,050 and target 17,900, 17,850, 17,800, 17,750, 17,700.
For New Positions:
Buy Bank Nifty in 37,925-38,125 range with a stop loss of 37,700 and target 38,175, 38,300, 38,350, 38,475.
Aggressive Traders Buy Bank Nifty with a stop loss of 37,900 and target 38,375, 38,475, 38,575, 38,650.
Aggressive Traders Sell Bank Nifty with a stop loss of 38,500 and target 38,175, 38,000, 37,925, 37,825, 37,775.
F&O Ban Update:
Total 9 stock in F&O Ban
2 Stocks New In Ban: Bank of Baroda, BHEL
7 Already In Ban: Canara Bank, Indiabulls Housing Finance, IRCTC, NALCO, PNB, SAIL, Sun TV
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08:42 AM IST