Anil Singhvi strategy March 22: 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 17,000-17,050 levels on Wednesday, March 22. He sees a strong buy zone coming in at 16,850-16,950 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,600-39,750 levels, and a strong buy zone in the 39,375-39,500 band. 

Here's how Anil Singhvi sums up the market setup on March 22: 

• Global: Positive

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,150-17,225 levels and a strong sell zone at 17,250-17,325 levels.​ For the banking index, he sees a higher zone at 40,100-40,250  levels and a strong sell zone in the 40,350-40,500 band.

• FII index longs at oversold levels on Wednesday at eight per cent vs nine per cent the previous day 
• Nifty put-call ratio (PCR) at 0.88 vs 0.83
• Nifty Bank PCR at 1.04 vs 0.78
• Fear index India VIX down six per cent at 15.08

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 16,950

• Nifty Bank intraday and closing stop loss at 39,350

For existing short positions:

• Nifty intraday and closing stop loss at 17,250
• Nifty Bank intraday and closing stop loss at 40,000

For new positions in Nifty:

• Buy Nifty in the 16,950-17,050 range with a stop loss at 16,825 for targets of 17,150, 17,200, 17,225, 17,250, 17,300 and 17,325

• Sell Nifty in the 17,200-17,300 range with a stop loss at 17,350 for targets of 17,150, 17,110, 17,065, 17,040, 17,000 and 16,950

For new positions in Nifty Bank:

• Buy Nifty Bank in the 39,400-39,600 range with a stop loss at 39,350 for targets of 39,700, 39,750, 39,900 and 39,975

• Aggressive traders can buy Nifty Bank with a strict stop loss at 39,500 for targets of 39,975, 40,100, 40,250, 40,350 and 40,500

• Sell Nifty Bank in the 40,350-40,500 range with a stop loss at 40,600 for targets of 40,250, 40,100, 40,000, 39,900, 39,750 and 39,600

F&O ban update

• Already in ban: Biocon, IB Housing Finance
  New in ban: None
  Out of ban: None

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