Anil Singhvi strategy March 10: Key market triggers, important levels to track in Nifty50, Nifty Bank
Zee Business Managing Editor Anil Singhvi shares his strategy for the March 10 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 expects support for the Nifty50 benchmark at 17,425-17,465 levels on Friday, March 10. He expects a strong buy zone for the 50-scrip headline index in the 17,300-17,350 range.
For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band.
Here's how Anil Singhvi sums up the market setup on March 10:
- Global: Negative
- FII: Negative
- DII: Neutral
- F&O: Neutral
- Sentiment: Negative
- Trend: Neutral
For the 50-scrip headline index, he expects a higher zone at 17,575-17,650 levels and a strong sell area at 17,675-17,750 levels. For the banking index, he sees a higher zone at 41,250-41,350 levels and a strong sell zone in the 41,500-41,650 band.
- FII index longs at 20 per cent on Friday vs 25 per cent on Thursday
- Nifty put-call ratio (PCR) at 0.98 vs 1.26
- Nifty Bank PCR at 0.82 vs 1.27
- Fear index India VIX up two per cent at 12.73
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