Anil Singhvi strategy April 1: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,175-22,250 levels and a strong buy zone at 22,050-22,150 levels for the headline Nifty50 index on Monday, April 1, the first session of the financial year FY25.

For the Nifty Bank, he expects support to come in at 46,825-46,975 levels and a strong buy zone at 46,575-46,750 levels.

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

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• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher zone for the headline index at 22,400-22,500 levels and a "blue sky zone" above 22,550.

For the banking index, Singhvi expects a higher zone at 47,325-47,425 levels and a profit-booking zone at 47,525-47,675 levels.

ANIL SINGHVI MARKET STRATEGY

• FII index longs at 45 per cent vs 31 per cent the previous day
• Nifty put-call ratio (PCR) at 1.18 vs 1.16
• Nifty Bank PCR at 0.98 vs 0.95
• Volatility index India VIX up one per cent at 12.83

The market wizard suggests buying rapidly in case of mild gains or a lacklustre start to the day, amid strong global signals, and buying by foreign as well as domestic funds.

He suggests adopting a 'buy on dips’ strategy at the current juncture on Dalal Street.

For existing long positions:

• Nifty intraday stop loss at 22,150 and closing stop loss at 22,000
• Nifty Bank intraday stop loss at 46,800 and closing stop loss at 46,600

For existing short positions:

• Nifty intraday and closing stop loss at 22,550
• Nifty Bank intraday and closing stop loss at 47,550

For new positions in Nifty:

• The best range to buy Nifty is 22,200-22,300 with a strict stop loss at 22,150 for targets of 22,400, 22,450, 22,500 and 22,525; above 22,550, one may hold their positions with a trailing stop loss

• Aggressive traders can sell Nifty in the 22,450-22,525 range with a strict stop loss at 22,550 for targets of 22,400, 22,350, 22,325, 22,250, 22,200 and 22,175

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 46,875-47,025 with a strict stop loss at 46,800 for targets of 47,200, 47,325, 47,425, 47,525, 47,675 and 47,750

• Aggressive traders can sell Nifty Bank in the 47,425-47,525 range with a strict stop loss at 47,600 for targets of 47,325, 47,200, 47,125, 47,025, 46,900 and 46,825

How to trade smallcap and midcap stocks now

The market guru suggests buying quality stocks in both segments, a view he has maintained since March 19. He suggests investing from a perspective of 4-6 weeks.

He also suggests investors avoid rushing to sell any stocks purchased last month.

What to expect in April F&O series?

The market wizard expects the April series to be positive for the market. He points out that the April series have been positive in seven and neutral in one out of the past 10 times.

F&O ban update

• Out of ban: Hindustan Copper

• Already in ban: Zee Entertainment Enterprises

• New in ban: None

Stock of the day

Buy Aurobindo Pharma shares in the cash segment with a stop loss at Rs 1,080 for targets of Rs 1,098, Rs 1,115 and Rs 1,125

• The company has announced the commissioning of the PenG plant and injectable facilities

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