Market Strategy: Nifty50 strong buy zone at 23,725-23,850? Here's what market guru says

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index to emerge at 23,900-24,000 levels and a strong buy zone at 23,725-23,850 levels on Wednesday, April 15.

The market wizard sees support for the Nifty Bank coming in at 55,600-55,900 levels and a strong buy area at 55,150-55,325 levels.

How market wizard sums up trade setup

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

• FII long positions at 21.81 per cent vs 22.06 per cent before Monday's session

• Nifty put-call ratio (PCR) unchanged at 1.13

• Nifty Bank PCR at 0.88 vs 0.84

For the headline index, the market wizard expects a higher zone at 24,000-24,075 and 24,250-24,300 levels and a strong sell zone at 24,450-24,550 levels.

For the banking index, he expects a higher zone in the 56,000-56,375 and 56,500-56,800 ranges, with a strong sell area at 56,950-57,250 levels.

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 55,550

For existing short positions:

• Nifty intraday and closing stop loss at 24,075
• Nifty Bank intraday and closing stop loss at 56,000

For new positions in Nifty50:

• Buy Nifty with a stop loss at 23,825 for targets of 24,125, 24,175, 24,250, 24,300, 24,450 and 24,500

• Buy Nifty Bank with a stop loss at 55,550 for targets of 55,975, 56,275, 56,375, 56,500, 56,700, 56,800 and 56,950

For new positions in Nifty Bank:

• Sell Nifty only if it trades below the 23,800 mark; use a strict stop loss at 23,925

• Aggressive traders can sell Nifty in the 24,250-24,300 range with a strict stop loss at 24,350 for targets of 24,175, 24,125, 24,075, 24,025, 24,000 and 23,925

• Sell Nifty Bank only if it trades below 55,500 with a strict stop loss at 55,800

• Aggressive traders can sell Nifty Bank in the 56,500-56,800 range with a strict stop loss at 57,000 for targets of 56,375, 56,275, 56,000, 55,775, 55,700 and 55,600

Futures & options (F&O) ban

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

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