Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,550-22,625 levels and a strong buy zone at 22,425-22,525 levels for the headline Nifty50 index on Tuesday, April 9.

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For the Nifty Bank, he expects support to come in at 48,250-48,425 levels and a strong buy zone at 47,900-48,075 levels.

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

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

He expects a "blue-sky zone" for the headline index above above 22,725. 

For the banking index, Singhvi expects a higher zone at 48,650-48,725 levels and a blue-sky zone above 48,750. 

ANIL SINGHVI MARKET STRATEGY  

  • FII index longs at 45 per cent vs 43 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.29 vs 1.03
  • Nifty Bank PCR at 1.2 vs 1.32
  • Volatility index India VIX up 2.4 per cent at 11.61

For existing long positions:

  • Nifty intraday 22,500 and closing stop loss at 22,400
  • Nifty Bank intraday 48,400 and closing stop loss at 48,000

For existing short positions:

  • Nifty intraday and closing stop loss at 22,725
  • Nifty Bank intraday and closing stop loss at 48,750

For new positions in Nifty:

  • The best range to buy Nifty is 22,500-22,625 with a stop loss at 22,400 for targets of 22,675 and 22,700; above 22,725, one may hold their long positions with a trailing stop loss
  • Sell Nifty only if it breaks 22,400

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 48,250-48,425 with a stop loss at 48,150 for targets of 48,500, 48,575, 48,625 and 48,700; above 48,750, hold the long positions with a trailing stop loss
  • Sell Nifty Bank only if it breaks 47,900

F&O ban update

  • New in ban: None
  • Already in ban: Bandhan Bank, SAIL, ZEEL
  • Out of ban: Hindustan Copper

Why are auto stocks rallying?

  • Strong report by FADA; strong business at the dealer's level
  • Strong growth expected on the back of launches, EV segment
  • Strong margins expected in Q4

Stocks of the day

Buy Infosys futures with a stop loss at Rs 1,458 for targets of Rs 1,502, Rs 1,517 and Rs 1,528

  • BofA has double upgraded the IT major's stock 'buy' from 'neutral' and raised its target to Rs 1,785 from Rs 1,735 
  • IT stocks looking strong before results season

Buy PI Industries futures with a stop loss at Rs 3,950 for targets of Rs 4,030 and Rs 4,100

  • Citi has raised its target to Rs 4,500 from Rs 4,100

Buy Can Fin Homes futures with a stop loss at Rs 795 for targets of Rs 811 and Rs 818

  • NBFC stocks looking strong
  • Morgan Stanley target at Rs 1,000

Block deals review:

Gland Pharma 

  • The stock has already run before the block deal
  • Don't be in a hurry to buy post-deal

Axis Bank

  • With this, block deal-related selling to be over
  • Buy at a lower level
  • Rs 1,055-1,065 good levels to enter

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