Anil Singhvi strategy April 26: Important levels to track in Nifty 50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the April 26 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 sees a strong buy zone for Nifty50 coming in at 17,550-17,625 levels on April 26.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,665-17,725 levels and a strong buy zone at 17,550-17,625 levels on Wednesday, April 26. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 42,375-42,500 levels and a strong buy zone at 42,150-42,275 levels.

Here's how Anil Singhvi sums up the market setup on April 26:

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

For the 50-scrip headline index, he expects a higher zone at 17,775-17,825 levels and a strong sell zone at 17,850-17,925 levels. For the banking index, he sees a higher zone at 42,725-42,850 levels and a strong sell zone at 42,950-43,075 levels.

FII index longs at 45 per cent on Wednesday vs 44 per cent the previous day
Nifty put-call ratio (PCR) at 1.16 vs 1.13
Nifty Bank PCR at 1.05 vs 1.25
Fear index India VIX down one per cent at 11.52

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 17,600
Nifty Bank intraday and closing stop loss at 42,250

For existing short positions:

Nifty intraday and closing stop loss at 17,875
Nifty Bank intraday and closing stop loss at 43,000

For new positions in Nifty:

Buy Nifty in the 17,625-17,700 range with a stop loss at 17,550 for targets of 17,750, 17,775, 17,800, 17,825 and 17,850
Sell Nifty in the 17,800-17,875 range with a stop loss at 17,925 for targets of 17,750, 17,725, 17,700, 17,665 and 17,625

For new positions in Nifty Bank:

Buy Bank Nifty in the 42,275-42,375 range with a stop loss at 42,200 for targets of 42,500, 42,600, 42,675, 42,725 and 42,850
Aggressive traders can buy Nifty Bank with a strict stop loss at 42,450 for targets of 42,725, 42,850, 42,950, 43,000, 43,075 and 43,150
Aggressive traders can sell Nifty Bank in the 42,850-43,000 range with a strict stop loss at 43,150 for targets of 42,725, 42,675, 42,600, 42,500, 42,375 and 42,275

F&O ban