Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,400-22,475 levels and a strong buy zone at 22,300-22,375 levels on Monday, March 11. For the Nifty Bank, he expects support to come in at 47,575-47,725 levels and a strong buy zone at 47,400-47,525 levels.

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

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

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The market wizard expects a "blue sky" zone in the Nifty above 22,550.

For the banking index, Singhvi expects a higher zone at 48,075-48,200 levels and a profit-booking zone at 48,300-48,450 levels. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs at 42 per cent vs 40 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.27 vs 1.32
  • Nifty Bank PCR at 0.91 vs 1.05
  • Volatility index India VIX down 4.75 per cent at 13.61

For existing long positions:

  • Nifty intraday and closing stop loss at 22,300
  • Nifty Bank Intraday and closing stop loss at 47,450

For existing short positions:

  • Nifty Intraday and closing stop loss at 22,550
  • Nifty Bank Intraday stop loss at 48,200 and closing stop loss at 48,000

For new positions in Nifty:

  • The best range to buy Nifty is 22,375-22,475 with a stop loss at 22,275 for targets of 22,500 and 22,525; one can hold the positions above 22,550 with a trailing stop loss
  • Sell Nifty only if it breaks below 22,200

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 47,575-47,725 range with a stop loss at 47,400 for targets of 47,850, 47,925, 47,975, 48,075, 48,150, 48,300 and 48,350
  • Aggressive traders can sell Nifty Bank in the 48,300-48,450 range with a strict stop loss at 48,650 for targets of 48,175, 48,075, 48,000, 47,925, 47,850 and 47,750

F&O ban update

  • New in ban: Tata Chemicals, SAIL
  • Already in ban: Mahanagar Gas, Manappuram Finance, Zee Entertainment Enterprises
  • Out of ban: None

Stocks of the day

Buy ICICI Pru futures with a stop loss at Rs 576 for targets of Rs 592 and Rs 606

  • Impressive growth in new business premium at 32.5 per cent in February

Buy LIC shares with a stop loss at Rs 1,010 for targets of Rs 1,039 and Rs 1,054

  • Impressive growth in new business premium at 67 per cent in February

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