Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects a buy zone for the Nifty50 benchmark at 16,850-16,950 levels on Tuesday, March 28, the second trading day of a four-session trading week in the Indian share market owing to the Ram Navami holiday on March 30. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,150-39,275 levels, and a strong buy zone in the 38,900-39,050 band.

Here's how Anil Singhvi sums up the market setup on March 28: 

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

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For the 50-scrip headline index, he expects a higher zone at 17,050-17,100 levels and a profit-booking zone at 17,150-17,225 levels.​ For the banking index, he sees a higher zone at 39,700-39,825 levels and a profit-booking zone in the 39,900-40,075 area.

Singhvi believes traders are likely to get an opportunity to make big gains soon following 10-odd days of rangebound moves in both the Nifty 50 and the Nifty Bank. He expects a breakout in the indices soon, and recommends a stop loss at 200 points in the 50-scrip headline index to play the possible big move. "Traders can prepare for gains to the tune of 3-5 per cent with a one per cent risk," he said.

  • FII index longs remain near oversold levels at 17 per cent on Tuesday vs 13 per cent on Monday; short covering expected from lower levels
  • Nifty put-call ratio (PCR) at 0.85 vs 0.78
  • Nifty Bank PCR at 0.76 vs 0.72
  • Fear index India VIX up one per cent at 15.45

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