Anil Singhvi strategy April 5: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,350-22,450 levels and a strong buy zone at 22,200-22,325 levels for the headline Nifty50 index on Friday, April 5, the day the RBI's MPC is set to announce the outcome of its first bi-monthly review of the new financial year.

For the Nifty Bank, he expects support to come in at 47,575-47,725 levels and a strong buy zone at 47,250-47,425 levels.

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

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• Global: Negative

• FII: Negative

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher zone for the headline index at 22,550-22,625 levels and a "blue sky zone" above 22,650.

For the banking index, Singhvi expects a higher zone at 48,250-48,350 levels and a strong sell zone at 48,450-48,625 levels.

ANIL SINGHVI MARKET STRATEGY

• FII index longs at 43 per cent vs 44 per cent the previous day

• Nifty put-call ratio (PCR) at 1.17 vs 0.95

• Nifty Bank PCR at 1.05 vs 1.04

• Volatility index India VIX down 1.5 per cent at 11.22

For existing long positions:

• Nifty intraday and closing stop loss at 22,300

• Nifty Bank intraday stop loss at 47,700 and closing stop loss at 47,500

For existing short positions:

• Nifty intraday and closing stop loss at 22,650
• Nifty Bank intraday and closing stop loss at 48,300

For new positions in Nifty:

• The best range to buy Nifty is 22,300-22,400 with a strict stop loss at 22,250 for targets of 22,450, 22,500, 22,525 and 22,600

• Aggressive traders can sell Nifty with a strict stop loss at 22,650 for targets of 22,450, 22,425, 22,350, 22,325 and 22,300

For new positions in Nifty Bank:

• Buy Nifty Bank in the 47,250-47,425 range with a stop loss at 47,100 for targets of 47,550, 47,625, 47,675, 47,725 and 47,825

• Aggressive traders can buy Nifty Bank in the 47,575-47,725 range with a strict stop loss at 47,500 for targets of 47,875, 47,975, 48,075, 48,150, 48,250 and 48,350

• Aggressive traders can sell Nifty Bank in the 48,250-48,450 range with a strict stop loss at 48,650 for targets of 48,075, 48,000, 47,900, 47,825 and 47,725

F&O ban update

• Already in ban: Hindustan Copper, SAIL, Zee Entertainment Enterprises

• New in ban: None

• Out of ban: None

Stocks of the day

Buy HDFC Bank futures with a stop loss at Rs 1,511 for targets of Rs 1,548 and Rs 1,560

• Strong quarterly update
• Despite Thursday’s big move, stock ready to rise more

Buy Bandhan Bank futures with a stop loss at Rs 196 for targets of Rs 208, Rs 210 and Rs 213

• Strong quarterly update
• Strong 25 per cent deposit growth

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