Anil Singhvi says market will BUYING will emerge in range if 14200 – 14400 on Nifty

Zee Business Managing Editor Anil Singhvi one key positive is that said that markets will keep falling and one will not be able to sell anything. FIIs have sold nearly Rs 6000 cr of Index and Stock Futures. Put / Call ratio has been reduced to 1.07 now from 1.43 at athe start of the series, indicating that it has come down by 30%. 

Singhvi said markets have become light which is extremely good. He said that the Put / call ratio indicates that after weak opening on the markets, it will not witness further selling instead due to more stop-losses getting triggered, market will see more buying and short covering in market. He said that the markets may reverse today or tomorrow is important to monitor. He said that the market have reverses sharply from 14800 - 15100 (upper band) sharply, which was not expected. Singhvi said that 14200 – 14400 is the buying range for the market. Fresh selling will only happen if market closes below 14200 levels. 

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Singhvi said that participant should understand that since markets are light, rather than getting worried about the fall today; one should buy at lower range as markets will see buying and short covering at lower range. After today’s gap down opening, Put / Call ratio may come below 1 and markets will recover from there. Singhvi said market getting light is the key positive trigger that participants need to understand. 

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अनिल सिंघवी- गिरावट में घबराएं नहीं, 14200-144000 की रेंज में खरीदारी करें...#EditorsTake #StockMarket #Nifty @AnilSinghvi_ pic.twitter.com/F7Vdu5PKz2

— Zee Business (@ZeeBusiness) May 3, 2021

Singhvi said FII’s has reduced their long positions from 78% to 61% on the first day of the new series. It is surprising to understand that in 1 day what changed that such a big move happened. Singhvi said that FII’s do buying in Index Futures when they are net long in the range of 50% - 60% and reduce their long positions when they are 75% to 85% long in Index Futures. FIIs may reduce position till max 50% to 52%, but that would be the most attractive level to do buying. Net short position is 20%, if it comes near 15%, then FII’s start buying. 

Singhvi said that FIIs have done lot of selling; now further selling will not be possible as they have become light. Some buying would emerge in the markets at lower levels due to short covering and fresh buying.