Anil Singhvi strategy March 20: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 21,725-21,800 levels and a stronger support zone at 21,600-21,675 for the headline Nifty50 index on Wednesday, March 20.

For the Nifty Bank, he expects support to come in at 46,050-46,250 levels and a strong buy zone at 45,675-45,975 levels.

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

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• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

The market wizard expects a higher zone for the headline index at 21,900-22,000 levels and a profit booking zone at 22,025-22,125 levels.

For the banking index, Singhvi expects a higher zone at 46,575-46,725 levels and a profit-booking zone at 46,800-46,975 levels.

ANIL SINGHVI MARKET STRATEGY

• FII index longs at 33 per cent vs 37 per cent the previous day
• Nifty put-call ratio (PCR) at 0.73 vs 0.95
• Nifty Bank PCR at 0.72 vs 0.81
• Volatility index India VIX up 1.5 per cent at 14.11

For existing long positions:

• Nifty intraday and closing stop loss at 21,750

• Nifty Bank intraday and closing stop loss at 46,250

For existing short positions:

• Nifty intraday and closing stop loss at 22,050

• Nifty Bank intraday stop loss at 46,625 and closing stop loss at 46,800

For new positions in Nifty:

• The best range to buy Nifty is 21,675-21,775 with a stop loss at 21,600 for targets of 21,825, 21,850, 21,900, 21,925, 22,000 and 22,025

• Aggressive traders can sell Nifty in the 21,925-22,025 range with a strict stop loss at 22,150 for targets of 21,875, 21,825, 21,800, 21,750, 21,725 and 21,675

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,700-46,050 range with a stop loss at 45,600 for targets of 46,250, 46,325, 46,400, 46,500, 46,575 and 46,725

• Aggressive traders can buy Nifty Bank with a strict stop loss at 46,000 for targets of 46,500, 46,575, 46,725, 46,800, 46,875 and 46,975

• Aggressive traders can sell Nifty Bank in the 46,800-46,975 range with a strict stop loss at 47,200 for targets of 46,725, 46,600, 46,525, 46,400, 46,325 and 46,250

F&O ban update

• New in ban: Indus Towers
• Out of ban: AB Fashion, Manappuram Finance, NALCO, Tata Chemicals
• Already in ban: Balrampur Chini, Biocon, Hindustan Copper, BHEL, RBL Bank, Piramal Enterprises, SAIL, Zee Entertainment Enterprises

Stocks of the day

Buy Eicher Motors futures with a stop loss at Rs 3,685 for targets of Rs 3,780, Rs 3,810 and Rs 3,850

• UBS has double upgraded the stock and raised target to Rs 5,000 from Rs 4,300

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