Anil Singhvi strategy March 5: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,300-22,365 levels and a strong buy zone at 22,125-22,225 levels on Tuesday, March 5. For the Nifty Bank, he expects support to come in at 47,175-47,300 and a stronger support zone at 46,900-47,050 levels.

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

• Global: Negative

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a higher zone for the Nifty50 at 22,440-22,500 and a "blue sky" zone above 22,525.

For the banking index, Singhvi sees a higher zone coming in at 47,650-47,825 and a profit-booking zone at 47,875-48,000 levels. 

He points out the emergence of lifetime highs across American, Japanese and European markets, and strong buying interest in asset classes other than equity as well. 

The market guru also highlights that gold and Bitcoin are trading near their all-time highs. 

दुनिया भर में सभी Equity Market मजबूत, और कितनी तेजी बाकी?

Gold और Bitcoin जैसे दूसरे Asset Classes में तेजी क्यों?#GoldRate #Bitcoin #StockMarket #Traders #Investors https://t.co/rklXOAsJ9i

— CA Anil Singhvi Zee Business (@AnilSinghvi_) March 5, 2024

ANIL SINGHVI MARKET STRATEGY 

The market wizard points out that the speed of the current rally on Dalal Street is perfect amid strong buying by FIIs and DIIs, and mixed global signals. 

He suggests traders adopt a 'buy on dips' strategy on the Nifty and the Nifty Bank at the current juncture. 

While largecap stocks have staged strong moves, there has been a good correction in the smallcap segment, he adds.

• FII index longs at 38 per cent vs 35 per cent the previous day
• Nifty put-call ratio (PCR) at 1.30 vs 1.32
• Nifty Bank PCR at 1.18 vs 1.32
• Volatility index India VIX down 0.5 per cent at 14.92

For existing long positions:

• Nifty intraday and closing stop loss at 22300

• Nifty Bank intraday and closing stop loss at 46900

For existing short positions:

• Nifty intraday and closing stop loss at 22525

• Nifty Bank intraday and closing stop loss at 47550

For new positions in Nifty:

• The best range to buy Nifty is 22,300-22,365 with a stop loss at 22,200 for targets of 22,400, 22,430 and 22,500; one can hold their positions above 22,525 with a trailing stop loss

• Sell Nifty only if it breaks below 22,300 with a strict stop loss at 22,450 for targets of 22,250, 22,225, 22,200 and 22,125

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,050-47,200 with a stop loss at 46,900 for targets of 47,275, 47,350, 47,450, 47,525 and 47,650

• Aggressive traders can buy Nifty Bank with strict stop loss at 47,150 for targets of 47,650, 47,725, 47,825, 47,875, 47,925 and 48,000

• Aggressive traders can sell Nifty Bank in the 47,725-47,875 range with a strict stop loss at 48,000 for targets of 47,650, 47,525, 47,450, 47,350, 47,275 and 47,200

F&O ban update

• Already in ban: Zee Entertainment Enterprises

• New in ban: None

• Out of ban: None

Stocks of the day

Buy Tata Motors futures with a stop loss at Rs 977 for targets of Rs 1,005, Rs 1,018 and Rs 1,035

• Demerger to unlock value for shareholders 
• The company taking steps in the right direction including delisting of ADRs, conversion of DVRs and now the demerger
• Demerger shows both businesses are self-dependant

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