Anil Singhvi strategy March 17: Key share market triggers, important levels to watch in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,925-17,000 levels on Friday, March 17. He sees a strong buy zone coming in at 16,750-16,850 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 38,950-39,050 levels, and a strong buy zone in the 38,450-38,625 area. 

Here's how Anil Singhvi sums up the market setup on March 17: 

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,100-17,150 levels and a strong sell zone at 17,200-17,325 levels.​ For the banking index, he sees a higher zone at 39,375-39,550 levels and a strong sell zone in the 39,750-39,900 band.

• FII index longs at oversold levels at 11 per cent on Friday vs 12 per cent on Thursday 
• Nifty put-call ratio (PCR) at 0.88 vs 0.67
• Nifty Bank PCR at 0.72 vs 0.53
• Fear index India VIX down 0.5 per cent at 16.22

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,850
• Nifty Bank intraday and closing stop loss at 38,600

For existing short positions:

• Nifty intraday and closing stop loss at 17,250
• Nifty Bank intraday and closing stop loss at 39,600

For new positions in Nifty:

• Buy Nifty with a stop loss at 16,850 for targets of 17,050, 17,100, 17,150, 17,200, 17,225 and 17,325

• Aggressive traders can sell Nifty in the 17,150-17,225 range with a strict stop loss at 17,325 for targets of 17,100, 17,050, 17,000, 16,975 and 16,925

For new positions in Nifty Bank:

• Buy Nifty Bank in the 38,625-38,925 range with a stop loss at 38,400 for targets of 39,050, 39,150, 39,375 and 39,450

• Aggressive traders can buy Nifty Bank with a strict stop loss at 38,900 for targets of 39,375, 39,450, 39,550, 39,675, 39,750, 39,825 and 39,900

• Aggressive traders can sell Nifty Bank in the 39,750-39,900 range with a strict stop loss at 40,000 for targets of 39,575, 39,450, 39,375, 39,150, 39,050 and 38,950

F&O ban update

• Already in ban: IB Housing Finance, GNFC
• New in ban: None
• Out of ban: None

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