What to do in this market? Anil Singhvi reveals crucial levels and strategy to follow

Zee Business Managing Editor Anil Singhvi says that In the process of correction, the strong support zone for the Nifty is 13240, 13550 to 13850. Markets will stay in this range. Investors need to understand that the maximum risk that it is facing currently is a fall of 1000 points. Investors should not sell their portfolio holding thinking about this 1000 points risk. Investors should sell if they see markets moving up again.

Investors should deploy their 1st instalment at 14300, 2nd instalment at 13850, then at 13550 and 13250. Investors can expect the market bottom-out by then and see an up-move again. Investors should follow this strategy, says Singhvi.

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If the market does not fall, then investors can see a target of 15550 – 16250 on Nifty. Ultimately this Bull Run target is 17150 – 17250 to 21000 on nifty, markets will certainly reach this range says Singhvi. In the month of January, market participants saw a sharp fall in Nifty where FIIs were seeing 5-6 sessions continuously. Singhvi said that there are no indications that the market has topped out.  He said 15100 – 15300 is the range where markets can see some correction, investors can book some profit and lighten their portfolio. 

New Bull Run will be witnessed when the market breaks 15500 and heads further up. Traders should remember broadly 14300 – 15300 will be the range where markets will trade in.

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ICICI Securities says that Nifty lost almost 3% on Friday while it stayed significantly volatile in the early part of the week. After finding support near its VWAP level of 14700, the Nifty ended the February series at 15100. However, sharp selling among index heavyweights on Friday led to almost 600 points fall in the index. On the other hand, midcap and small cap stocks outperformed the market and ended the week positive. 
Important thing to know is that it was the sharp rise in US bond yields that unnerved global investors. They turned negative in the last few sessions while domestic institutions have remained sellers. The appreciation in the dollar index from the lows coupled with fund outflows triggered rupee depreciation as the Indian currency ended at its lowest levels of the year.