Anil Singhvi strategy April 2: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,325-22,425 levels and a strong buy zone at 22,175-22,250 levels for the headline Nifty50 index on Tuesday, April 2.

For the Nifty Bank, he expects support to come in at 47,125-47,375 levels and a strong buy zone at 46,900-47,025 levels.

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

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• Global: Negative

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher zone for the headline index at 22,500-22,525 levels and a "blue sky zone" above 22,550.

For the banking index, Singhvi expects a higher zone at 47,725-47,875 levels and a strong sell zone at 47,950-48,075 levels.

ANIL SINGHVI MARKET STRATEGY

• FIIs index longs unchanged at 45 per cent vs the previous day
• Nifty put-call ratio (PCR) at 1.07 Vs 1.18
• Nifty Bank PCR at 1.07 vs 0.98
• Volatility index India VIX down 5.8 per cent at 12.08

For existing long positions:

• Nifty intraday and closing stop loss at 22,300
• Nifty Bank intraday stop loss at 47,300 and closing stop loss at 47,000

For existing short positions:

• Nifty intraday and closing stop loss at 22,550
• Nifty Bank intraday and closing stop loss at 47,750

For new positions in Nifty:

• The best range to buy Nifty is 22,325-22,425 with a strict stop loss at 22,300 for targets of 22,460, 22,500 and 22,525; one may hold long positions above 22,550 with a trailing stop loss

• Aggressive traders can sell Nifty with a strict stop loss at 22,550 for targets of 22,425, 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 46,900-47,025 with a strict stop loss at 46,775 for targets of 47,125, 47,200, 47,325, 47,375 and 47,425

• Aggressive traders can buy Nifty Bank in the 47,125-47,375 range with a strict stop loss at 46,950 for targets of 47,425, 47,575, 47,650, 47,725, 47,825 and 47,950

• Aggressive traders can sell Nifty Bank in the 47,825-47,950 range with a strict stop loss at 48,100 for targets of 47,725, 47,650, 47,575, 47,500, 47,375 and 47,125

F&O ban update

• Out of ban: Zee Entertainment Enterprises

• Already in ban: None

• New in ban: None

Stock of the day

Buy AB Fashion futures with a stop loss at Rs 208 for targets of Rs 218, Rs 222 and Rs 225

• Company to demerge Madura Fashion & Lifestyle business
• Focus on high growth segments post-demerger

Buy AB Capital futures with a stop loss at Rs 178 for targets of Rs 188 and Rs 190

• Macquarie has initiated coverage with a target of Rs 230
• Company ready to show strong growth in earnings and loans

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