Anil Singhvi Market Strategy: Nifty50 strong buy zone at 24,000-24,100, profit-booking area at 24,600-24,700

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index to emerge at 24,150-24,250 levels and a strong buy zone at 24,000-24,100 levels on Tuesday, April 21. The market wizard sees support for the Nifty Bank coming in at 56,100-56,300 levels and a strong buy area at 55,600-55,850 levels.

How market wizard sums up trade setup

• Global: Neutral
• FII: Negative
• DII: Positive
• F&O: Neutral
• Sentiment: Neutral
• Trend: Positive
• FII long positions at 20.71 per cent vs 20.80 per cent before Monday's trading session
• Nifty put-call ratio (PCR) at 1.13 vs 1.09
• Nifty Bank PCR at 0.99 vs 0.93

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For the headline index, the market wizard expects a higher zone at 24,475-24,575 levels and a profit-booking zone at 24,600-24,700 levels.

For the banking index, he expects a higher zone at 56,835-57,050 levels and a profit-booking zone at 57,150-57,275 levels.

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty50 and Nifty Bank

For existing long positions:

• Nifty intraday and closing stop loss at 24,200
• Nifty Bank intraday stop loss at 56,250 and closing stop loss at 56,050

For existing short positions:

• Nifty intraday stop loss at 24,500 and closing stop loss at 24,400
• ,Nifty Bank intraday stop loss at 57,300 and closing stop loss at 56,850

For new positions in Nifty50:

• The best range to buy Nifty is 24,200-24,300 with a stop loss at 24,050 for targets of 24,350, 24,400, 24,450, 24,475, 24,500 and 24,550

• The best range to buy Nifty Bank is 56,100-56,350 with a stop loss at 55,900 for targets of 56,500, 56,575, 56,750, 56,825, 57,050, 57,150 and 57,250

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty in the 24,500-24,600 range with a strict stop loss at 24,650 for targets of 24,450, 24,400, 24,365, 24,300, 24,250 and 24,200

• Aggressive traders can sell Nifty Bank in the 57,000-57,250 range with a strict stop loss at 57,400 for targets of 56,850, 56,700, 56,600, 56,500, 56,350 and 56,100

Futures & options (F&O) ban

• Already in ban: Sammaan Capital, SAIL
• Out of ban: None
• New in ban: None

Sectors set to see action: Optical fibre, MDF & plywood, affordable housing

Optical fibre companies

• There's a sharp rise in optical fibre prices globally
• The demand is increasing due to data centres and drones
• Companies like Sterlite Tech are set to benefit

MDF and plywood firms

• There's a significant rise in MDF rates
• This is positive for Century Ply, Stylam, Greenply

Affordable housing-focused businesses

• PNB Housing Finance's strong results support this segment
• It is positive for affordable housing NBFCs
• Keep an eye on Aptus Value, Home Finance

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PNB Housing Finance

• Buy PNB Housing Finance futures for targets of Rs 920, Rs 935 and Rs 942 with a stop loss at Rs 898
• Strong results on all parameters
• Impressive retail loan growth of 16 per cent
• Significant improvement in asset quality