Anil Singhvi’s Strategy November 2: Day support zone on Nifty is 17900-17975 & Bank Nifty is 41000-41125


Against the backdrop of neutral global markets, negative domestic institutional investors (DII), positive foreign institutional investors (FII), neutral futures and options (F&O) and positive sentiment indices, the trend short-term Indian stock market will be positive on Wednesday November. 2, 2022.

Nifty support zone 18000-18075, below this strong buy zone 17900-17975

Clever upper area 18175-18225, above this profit reservation area 18265-18350

Support zone Bank Nifty 41000-41125, below this zone 40775-40850 Strong Buy

Bank Nifty upper area 41475-41525, above this booking area 41675-41825 Profit

Clever support levels 18125, 18075, 18050, 18000, 17975, 17900, 17850

Nifty higher levels 18175, 18200, 18265, 18300, 18350

Bank Nifty Support Levels 41175, 41100, 41025, 40850, 40775, 40650

Bank Nifty upper levels 41425, 41475, 41525, 41675, 41825

– FII Long Index at 66% versus 63%

– PCR at 1.31 against 1.32

– Bank Nifty PCR at 0.77 vs. 0.93

– India VIX up 2% at 4:13 p.m.

For existing long positions:

Nifty Intraday and Closing STOP LOSS 17975

Bank Nifty Intraday and Closing STOP LOSS 40950

For existing short positions:

Nifty Intraday and Closing STOP LOSS 18225

Bank Nifty Intraday STOP LOSS 41700 and Closing STOP LOSS 41525

For new positions:

Buy Nifty in the 18000-18075 range:

STOP LOSS 17900 Target 18125, 18150, 18175, 18200, 18265, 18350

Sell ​​Nifty in the 18200-18300 range:
STOP LOSS 18350 Target 18175, 18150, 18125, 18075, 18025, 18000

For new positions:

Buy Bank Nifty in the range 41000-41125: STOP LOSS 40775 Target 41200, 41300, 41425, 41475, 41525, 41675

Sell ​​Bank Nifty in the range 41500-41675: STOP LOSS 41850 Target 41425, 41300, 41200, 41125, 41025

F&O ban update:

New in Prohibition: PNB

Excluding prohibition: none

Already prohibited: none

Overview of the IPO of Fusion Micro Finance:
APPLY LONG TERM

Good points :
Experienced and clean promoters
Strong growth prospect
Strong finances

Negatives:
Highly competitive and regulated company
Unattractive reasonable valuations

Previous Factoring services market: key players Mizuho Financial Group, Inc, Riviera Finance of Texas, Inc, Société Générale.
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