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

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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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