Anil Singhvi strategy March 15: Key share market triggers, important levels to watch in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,950-17,050 levels on Wednesday, March 15. He sees a strong buy zone coming in at 16,750-16,850 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,125-39,300 levels, and a strong buy zone in the 38,725-38,950 area. 

Here's how Anil Singhvi sums up the market setup on March 15: 

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• 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 17,300-17,425 levels.​ For the banking index, he sees a higher zone at 39,750-39,900 and 40,350-40,500 levels, and a strong sell zone in the 40,675-40,825 band.

• FII index longs at 13 per cent on Wednesday vs 16 per cent the previous day 
• Nifty50 put-call ratio (PCR) at 0.69 vs 0.71
• Nifty Bank PCR at 0.59 vs 0.51
• India VIX unchanged at 16.22

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,950
• Nifty Bank intraday and closing stop loss at 39,000

For existing short positions:

• Nifty intraday stop loss at 17,225 and closing stop loss at 17,425
  Nifty Bank intraday stop loss at 39,800 and closing stop loss at 40,500

For new positions in Nifty:

• Aggressive traders can buy Nifty with a strict stop loss at 16,950 for targets of 17,100, 17,150, 17,200, 17,225, 17,300 and 17,325

  Aggressive traders can sell Nifty in the 17,225-17,325 range with a strict stop loss at 17,450 for targets of 17,150, 17,100, 17,050, 17,000, 16,950 and 16,900

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank with a strict stop loss at 39,000 for targets of 39,750, 39,825, 39,900, 40,000, 40,100, 40,250, 40,350 and 40,500

• Sell Nifty Bank in the 40,350-40,500 range with a stop loss at 40,850 for targets of 40,000, 39,900, 39,825, 39,750, 39,575, 39,450, 39,300 and 39,150

F&O ban update

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

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