Anil Singhvi strategy April 27: Important levels to track in Nifty 50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,700-17,750 levels and a strong buy zone at 17,625-17,665 levels on Thursday, April 27. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI and Axis Bank, he sees support emerging at 42,600-42,675 levels and a strong buy zone at 42,375-42,450 levels.

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

• Global: Negative

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,800-17,875 levels and a strong sell zone at 17,925-17,975 levels.​ For the banking index, he sees a higher zone at 42,875-43,000 levels and a strong sell zone at 43,075-43,250 levels.

• FII index longs at 46 per cent on Thursday vs 45 per cent the previous day
• Nifty put-call ratio (PCR) at 1.22 vs 1.16
• Nifty Bank PCR at 1.31 vs 1.05
• Fear index India VIX up one per cent at 11.65

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 17,700
  Nifty Bank intraday and closing stop loss at 42,600

For existing short positions:

• Nifty intraday and closing stop loss at 17,875
• Nifty Bank intraday and closing stop loss at 43,000

For new positions in Nifty:

• Buy Nifty in 17665-17750 range:
  SL 17600 Tgt 17800, 17825, 17850, 17875, 17925, 17975

  Aggressive Traders Sell Nifty in 17850-17925 range:
  Strict SL 18000 Tgt 17800, 17775, 17750, 17715, 17665

For new positions in Nifty Bank:

• Buy Bank Nifty in 42375-42450 range:
  SL 42250 Tgt 42600, 42675, 42725, 42825, 42875

  Aggressive Traders Buy Bank Nifty:
  Strict SL 42400 Tgt 42875, 42950, 43000, 43075, 43150, 43250

  Aggressive Traders Sell Bank Nifty in 42950-43075 range:
  Strict SL 43250 Tgt 42875, 42825, 42725, 42675, 42600, 42450

F&O ban

New in ban: GNFC
Already in ban: Zee Entertainment
Out of ban: None

Stocks of the day

Syngene

• Buy Syngene futures for targets of Rs 639, Rs 646 and Rs 655 with a stop loss at Rs 618
• Strong revenue, profit growth
• Strong operational performance despite increase in expenses

SBI Life

• Buy SBI Life with a stop loss at 1,105 for targets of Rs 1,140, Rs 1,155 and Rs 1,170
• Strong growth in new business
• Best guidance on higher base
• Cheaper valuation compared to peers

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