Anil Singhvi strategy March 21: Key share market triggers, important levels to watch in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi shares his strategy for the March 21 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Zee Business Managing Editor Anil Singhvi sees support for Nifty50 coming in at 16,850-16,925 levels on March 21.

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,850-16,925 levels on Tuesday, March 21. He sees a strong buy zone coming in at 16,750-16,825 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 38,935-39,135 levels, and a strong buy zone in the 38,450-38,625 band.

Here's how Anil Singhvi sums up the market setup on March 21:

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

For the 50-scrip headline index, he expects a higher zone at 17,065-17,100 levels and a strong sell zone at 17,150-17,225 levels. For the banking index, he sees a higher zone at 39,500-39,600 levels and a strong sell zone in the 39,700-39,900 band.

FII index longs at oversold levels at nine per cent on Tuesday vs 10 per cent the previous day
Nifty put-call ratio (PCR) at 0.83 vs 0.88
Nifty Bank PCR at 0.78 vs 0.83
Fear index India VIX up eight per cent at 16.01

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty50 intraday and closing stop loss at 16,800
Nifty Bank intraday and closing stop loss at 38,900

For existing short positions:

Nifty intraday and closing stop loss at 17,225
Nifty Bank intraday stop loss at 39,800 and closing stop loss at 39,600

For new positions in Nifty:

Buy Nifty in the 16,850-16,950 range with a stop loss at 16,800 for targets of 17,040, 17,065, 17,100, 17,150, 17,200 and 17,225
Aggressive traders can sell Nifty in the 17,150-17,250 range with a strict stop loss at 17,350 for targets of 17,100, 17,065, 17,040, 17,000, 16,950 and 16,850

For new positions in Nifty Bank:

Buy Nifty Bank in the 38,950-39,150 range with a stop loss at 38,900 for targets of 39,350, 39,425, 39,500, 39,600, 39,700, 39,750 and 39,900
Aggressive traders can sell Nifty Bank in the 39,700-39,900 range with a strict stop loss at 40,000 for targets of 39,600, 39,525, 39,450, 39,375, 39,150, 39,050 and 38,950

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