Anil Singhvi strategy April 17: Key market triggers, important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,650-17,725 levels, and a strong buy zone at 17,550-17,600 levels on Monday, April 17, as the Indian share market resumes trading after a long weekend. 

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 41,575-41,725 levels and a strong buy zone in the 41,350-41,500 band.

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

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Cautious

• Sentiment: Positive

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,825-17,875 levels and a strong sell zone at 17,925-17,975 levels.​ For the banking index, he sees a higher zone at 42,375-42,500 levels and a strong sell area at 42,550-42,725 levels.

• FII index longs at 39 per cent on Monday vs 35 per cent on Thursday
• Nifty put-call ratio (PCR) on higher side at 1.28 vs 1.27; profit booking expected at upper levels
• Nifty Bank PCR at 1.34 vs 1.32
• Fear index India VIX down three per cent at 11.91

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 17,700 and closing stop loss at 17,600
• Nifty Bank intraday stop loss at 41,500 and closing stop loss at 41,350

For existing short positions:

• Nifty intraday and closing stop loss at 17,850
• Nifty Bank intraday and closing stop loss at 42,200

For new positions in Nifty:

• Buy Nifty in the 17,650-17,725 range with a stop loss at 17,550 for targets of 17,800, 17,825, 17,875 and 17,925

• Sell Nifty in the 17,875-17,975 range with a stop loss at 18,050 for targets of 17,825, 17,800, 17,750, 17,725, 17,700 and 17,650

For new positions in Nifty Bank:

• Buy Nifty Bank in the 41,500-41,625 range with a stop loss at 41,300 for targets of 41,725, 41,775, 41,975, 42,075, 42,125 and 42,175

• Sell Nifty Bank in the 42,450-42,625 range with a stop loss at 42,750 for targets of 42,275, 42,200, 42,125, 42,000 and 41,775

• Aggressive traders can sell Nifty Bank with a strict stop loss at 42,300 for targets of 42,000, 41,775, 41,675, 41,625, 41,550, 41,500 and 41,400

F&O ban update

• Already in ban: Balrampur Chini, Delta Corp
• New in ban: None
• Out of ban: None

Infosys Q4 results review

• Very weak results
• Poor guidance
• EPS cut of 6-7 per cent
• For Infosys futures, next support at Rs 1,245-1,200

HDFC Bank Q4 results

• Nothing great, nothing bad
• Stock trading near its 52-week high
• Sell HDFC Bank futures with stop loss at Rs 1,720 for targets of Rs 1,655 and Rs 1,640

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