Anil Singhvi strategy March 27: Key share market cues, important levels to watch in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 benchmark at 16,825-16,925 levels on Monday, March 27, as the Indian share market enters a four-session trading week owing to the Ram Navami holiday on March 30. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,300-39,400 levels, and a strong buy zone in the 39,050-39,150 band. 

Here's how Anil Singhvi sums up the market setup on March 27: 

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,050-17,100 levels and a profit-booking zone at 17,150-17,225 levels.​ For the banking index, he sees a higher zone at 39,600-39,750 levels and a strong sell zone in the 39,825-40,000 band.

• FII index longs at oversold levels at 13 per cent on Monday vs 11 per cent on Friday; short covering expected from lower levels
• Nifty put-call ratio (PCR) at 0.78 vs 0.86
• Nifty Bank PCR at 0.72 vs 0.70
• Fear index India VIX by five per cent at 15.24

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,825
  Nifty Bank intraday and closing stop loss at 39,250

For existing short positions:

• Nifty intraday stop loss at 17,225 and closing stop loss at 17,150
  Nifty Bank intraday stop loss at 39,600 and closing stop loss at 40,000

For new positions in Nifty:

• Buy Nifty with a stop loss at 16,825 for targets of 17,000, 17,045, 17,065, 17,100, 17,150 and 17,200

• Sell Nifty in the 17,100-17,200 range with a stop loss at 17,250 for targets of 17,075, 17,050, 17,015, 16,975, 16,950 and 16,925

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 39,250 for targets of 39,550, 39,600, 39,700, 39,750, 39,825, 39,900 and 40,000

• Sell Nifty Bank in the 39,825-40,000 range with a stop loss at 40,200 for targets of 39,700, 39,625, 39,550, 39,500, 39,425, 39,375 and 39,300

F&O ban update

• Out of ban: Biocon

• Already in ban: HAL, IB Housing Finance

• New in ban: None

Stock of the day

• Buy Sun Pharma futures for targets of Rs 985, Rs 995 and Rs 1,010 with a stop loss at Rs 965 

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