Market Guru's Strategy: Nifty50 strong support at 23,475-23,600, says Anil Singhvi—See how to trade

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index to emerge at 23,675-23,775 levels and a stronger support zone at 23,475-23,600 on Monday, April 13.

The market wizard sees support for the Nifty Bank coming in at 55,000-55,275 and 54,625-54,875 levels, and a stronger support area at 54,150-54,400 levels.

How market wizard sums up trade setup

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• Global: Negative
• FII: Neutral
• DII: Neutral
• F&O: Neutral
• Sentiment: Cautious
• Trend: Neutral

• FII long positions at 22.06 per cent vs 20.48 per cent before Friday's session

• Nifty put-call ratio (PCR) at 1.13 vs 0.97

• Nifty Bank PCR at 0.84 vs 0.77

For the headline index, the market wizard expects a strong sell zone at 23,990-24,075 levels.

For the banking index, he expects a strong sell area in the 55,775-55,975 range.

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

For existing long positions:

• Nifty intraday and closing stop loss at 23,850
• Nifty Bank intraday and closing stop loss at 55,100

For existing short positions:

• Nifty intraday and closing stop loss at 24,100
• Nifty Bank intraday and closing stop loss at 56,000

For new positions in Nifty50:

• Sell Nifty with a stop loss at 24,100 for targets of 23,865, 23,825, 23,775, 23,720, 23,685 and 23,575

• Sell Nifty Bank with a stop loss at 56,000 for targets of 55,575, 55,325, 55,150, 55,000, 54,875, 54,625 and 54,400

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty in the 23,575-23,700 range with a strict stop loss at 23,450 for targets of 23,775, 23,825, 23,850, 23,915 and 23,990

• Aggressive traders can buy Nifty Bank in the 54,625-54,875 range with a stop loss at 54,400 for targets of 55,000, 55,150, 55,325, 55,575, 55,700 and 55,800

Futures & options (F&O) ban

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

Delhi EV policy draft prepared

• 100 per cent road tax and registration fee waived for all EVs
• Full exemption proposed for cars priced up to Rs 30 lakh
• Only electric three-wheelers will be registered in Delhi from January 1, 2027
• Only electric two-wheelers will be registered in Delhi from January 1, 2028
• A mandatory increase in the share of electric vehicles in school buses
• Target: 10 per cent in the first two years, 20 per cent in the third year, 30 per cent by 2030
• New vehicles in government departments to be only electric, except emergency use
• Fleet aggregators will not be allowed to add new diesel/petrol vehicles from 2026

Subsidies and incentives

• For two-wheelers: Rs 10,000 per kWh in the first year, up to Rs 30,000 maximum subsidy
• E-auto (L5M): Rs 50,000 subsidy in the first year
• Rs 40,000 in the second year, Rs 30,000 in the third year
• N1 e-trucks: Rs 1 lakh subsidy in the first year, Rs 75,000 in the second year
• A Rs 50,000 subsidy fixed for the third year
• Scrappage incentive: Rs 10,000 for old BS-IV two-wheelers, Rs 25,000 for three-wheelers

A big positive for EV auto companies

• Draft Delhi EV Policy 2026-2030 is positive for:
  • Two-wheeler EV companies like Ather Energy, TVS, Bajaj Auto, Ola
  • Electric three-wheeler companies like Bajaj Auto, Atul Auto
  • EV bus and truck makers like JBM Auto, Olectra Green, Tata Motors CV

How to trade buzzing stocks: IndiGo, HPCL, Asian Paints, L&T...

InterGlobe Aviation (IndiGo), HPCL, Asian Paints

• Sell IndiGo futures for targets of Rs 4,475, Rs 4,440 and Rs 4,395 with a stop loss at Rs 4,620
• Sell HPCL futures for targets of Rs 357, Rs 348 and Rs 343 with a stop loss at Rs 368
• Sell Asian Paints futures for targets of Rs 2,315, Rs 2,285 and Rs 2,260 with a stop loss at Rs 2,385
• A sharp rise in crude prices is extremely negative

HDFC Bank

• Sell HDFC Bank futures for targets of Rs 803, Rs 790 and Rs 782 with a stop loss at Rs 820
• Rate-sensitive stocks are set to see selling pressure due to failure of talks between the USA and Iran

L&T

• Sell L&T futures for targets of Rs 3,925, Rs 3,880 and Rs 3,830 with a stop loss at Rs 4,010
• Some profit-booking is expected due to failure of talks between the USA and Iran

Coal India

• Buy Coal India futures for targets of Rs 438, Rs 443 and Rs 450 with a stop loss at Rs 422
• The focus will now be shifted to energy stocks due to rising crude oil prices
• The stock fell 4.5 per cent on Friday