Anil Singhvi strategy March 21: Key share market triggers, important levels to watch in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,850-16,925 levels on Tuesday, March 21. He sees a strong buy zone coming in at 16,750-16,825 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 38,935-39,135 levels, and a strong buy zone in the 38,450-38,625 band. 

Here's how Anil Singhvi sums up the market setup on March 21: 

• 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 17,065-17,100 levels and a strong sell zone at 17,150-17,225 levels.​ For the banking index, he sees a higher zone at 39,500-39,600 levels and a strong sell zone in the 39,700-39,900 band.

• FII index longs at oversold levels at nine per cent on Tuesday vs 10 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.83 vs 0.88
• Nifty Bank PCR at 0.78 vs 0.83
• Fear index India VIX up eight per cent at 16.01

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,800
• Nifty Bank intraday and closing stop loss at 38,900

For existing short positions:

• Nifty intraday and closing stop loss at 17,225
• Nifty Bank intraday stop loss at 39,800 and closing stop loss at 39,600

For new positions in Nifty:

• Buy Nifty in the 16,850-16,950 range with a stop loss at 16,800 for targets of 17,040, 17,065, 17,100, 17,150, 17,200 and 17,225

• Aggressive traders can sell Nifty in the 17,150-17,250 range with a strict stop loss at 17,350 for targets of 17,100, 17,065, 17,040, 17,000, 16,950 and 16,850

For new positions in Nifty Bank:

• Buy Nifty Bank in the 38,950-39,150 range with a stop loss at 38,900 for targets of 39,350, 39,425, 39,500, 39,600, 39,700, 39,750 and 39,900

• Aggressive traders can sell Nifty Bank in the 39,700-39,900 range with a strict stop loss at 40,000 for targets of 39,600, 39,525, 39,450, 39,375, 39,150, 39,050 and 38,950

F&O ban update

• New in ban: Biocon

• Out of ban: GNFC

• Already in ban: IB Housing Finance

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