Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 23,000-23,150 levels and a strong buy zone at 22,800-22,900 levels on Friday, April 4. For the Nifty Bank, Singhvi expects support at 51,200-51,350 levels and a strong buy zone at 50,900-51,050 levels. Read on to learn about the market wizard’s views for the day.
How market guru Anil Singhvi sums up trade setup this morning:
Global: Negative
FII: Negative
DII: Neutral
F&O: Neutral
Sentiment: Negative
Trend: Neutral
FII long positions at 30 per cent vs 32 per cent before Thursday’s session
Nifty put-call ratio (PCR) at 1.12 vs 0.96
Nifty Bank PCR at 1.02 vs 0.94
Volatility index India VIX down one per cent at 13.60
The market wizard sees a higher zone at 23,300-23,400 levels and a strong sell zone at 23,450-23,550 levels for the headline index. For the banking index, he expects a higher zone at 51,825-51,975 levels and a profit-booking zone at 52,075-52,275 levels.
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ANIL SINGHVI MARKET STRATEGY
For existing long positions:
Nifty intraday and closing stop loss at 23,125
Nifty Bank intraday stop loss at 51,300 and closing stop loss at 50,800
For existing short positions:
Nifty intraday and closing stop loss at 23,375
Nifty Bank intraday and closing stop loss at 51,725
For new positions in Nifty50:
Aggressive traders can buy Nifty in the 23,000-23,150 range with a strict stop loss at 22,800 for targets of 23,235, 23,265, 23,300, 23,350, 23,400 and 23,450
Aggressive traders can sell Nifty in the 23,300-23,400 range with a strict stop loss at 23,525 for targets of 23,250, 23,200, 23,150, 23,075, 23,000 and 22,900
For new positions in Nifty Bank:
Aggressive traders can buy Nifty Bank in the 51,200-51,350 range with a strict stop loss at 50,900 for targets of 51,575, 51,675, 51,850, 51,975, 52,050 and 52,275
Aggressive traders can sell Nifty Bank in the 51,850-52,050 range with a strict stop loss at 52,275 for targets of 51,700, 51,600, 51,425, 51,350, 51,200 and 51,075
F&O Ban Update
New in ban: None
Out of ban: None
Already in ban: None
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ANIL SINGHVI SHARES ‘STOCKS OF THE DAY’: BAJAJ FINANCE, HDFC BANK
Bajaj Finance
Buy Bajaj Finance futures for targets of Rs 8,690, Rs 8,775 and Rs 8,900 with a stop loss at Rs 8,490
The company has released a strong quarterly update
One may accumulate the stock in market weakness
Buying advised in case of a lower opening
HDFC Bank
The bank’s quarterly update exactly matches expectations
The lender’ growth is stable in loans and deposits
The stock is expected to remain range bound
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