Market Strategy: Nifty50 strong buy zone at 23,850-24,000? 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 24,025-24,150 levels and a strong buy zone at 23,850-24,000 levels on Thursday, April 16.

The market wizard sees support for the Nifty Bank coming in at 55,900-56,100 levels and a strong buy zone at 55,600-55,775 levels.

How market wizard sums up trade setup

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

• FII long positions at 21.06 per cent vs 21.81 per cent before Wednesday's session

• Nifty put-call ratio (PCR) at 1.12 vs 1.13

• Nifty Bank PCR at 0.89 vs 0.88

For the headline index, the market wizard expects a higher zone at 24,450-24,550 levels and a strong sell zone at 24,575-24,700 levels.

For the banking index, he expects a higher zone in the 56,500-56,775 range and a profit-booking area at 56,950-57,250 levels.

Positive cues for Dalal Street

• Trump has signalled that the war may be ending soon
• Ceasefire fully in place, no attack reported
• Some FII inflows
• New lifetime highs in S&P and Nasdaq
• Signs that a trade deal may be completed soon
• Technically, the market remains very strong
• Midcap and smallcap indices have crossed pre-war levels -- a positive
• Sharp decline in India VIX
• Strong loan and deposit growth numbers from banks
• Corporate results so far better than expectations

Negative cues

• Crude holding near $95 per barrel
• FII buying remains very small
• DIIs show a small selling figure after 31 days
• Nifty50 and Nifty Bank face some resistance near 24,500 and 57,250, respectively
• Possible volatility due to the weekly Sensex expiry

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

For existing long positions:

• Nifty intraday and closing stop loss at 24,000
• Nifty Bank intraday and closing stop loss at 55,900

For existing short positions:

• Nifty intraday and closing stop loss at 24,300
• Nifty Bank intraday and closing stop loss at 56,800

For new positions in Nifty50:

• Buy Nifty with a stop loss at 24,000 for targets of 24,275, 24,300, 24,450, 24,500, 24,535 and 24,575

• Buy Nifty Bank with a stop loss at 55,900 for targets of 56,500, 56,700, 56,775, 56,950, 57,150 and 57,250

For new positions in Nifty Bank:

• Sell Nifty only if it trades below the 24,000 mark; use a strict stop loss at 24,150

• Aggressive traders can sell Nifty in the 24,450-24,550 range with a strict stop loss at 24,600 for targets of 24,300, 24,250, 24,150, 24,025, 24,000 and 23,925

• Sell Nifty Bank only if it trades below 55,900 with a strict stop loss at 56,150

• Aggressive traders can sell Nifty Bank in the 56,775-56,950 range with a strict stop loss at 57,300 for targets of 56,500, 56,300, 56,125, 55,925, 55,775 and 55,600

Futures & options (F&O) ban

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

How to Trade Buzzing Stocks | From SBI to ICICI Bank to ICICI Lombard...

ICICI Lombard

• Results slightly below expectation
• Strong growth in retail health segment
• Target raised by FIIs brokerages
• Futures have support at Rs 1,805
• A higher level expected at Rs 1,915

Adani Enterprises

• Buy futures for targets of Rs 2,170, Rs 2,190 and Rs 2,205 with a stop loss at Rs 2,120
• The Adani group stock is looking very strong

ICICI Bank and SBI

• Buy ICICI Bank futures for targets of Rs 1,364 and Rs 1,376 with a stop loss at Rs 1,337
• Buy SBI futures for targets of Rs 1,084, Rs 1,090 and Rs 1,100 with a stop loss at Rs 1,060
• Bank stocks are looking strong
• Strong loan and deposit growth in FY26