Anil Singhvi strategy March 16: 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 16,825-16,925 levels on Thursday, March 16. He sees a strong buy zone coming in at 16,650-16,775 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 38,725-38,950 and 38,450-38,625 levels, and stronger support in the 38,200-38,375 area. 

Here's how Anil Singhvi sums up the market setup on March 16: 

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,050-17,100 and 17,150-17,225 levels and a strong sell zone at 17,325-17,425 levels.​ For the banking index, he sees a higher zone at 39,400-39,550 levels, and a strong sell zone in the 39,750-39,900 band.

• FIIs Index Long at Oversold levels at 12% Vs 13% 
  Nifty PCR at 0.67 Vs 0.69
  Bank Nifty PCR at 0.53 Vs 0.59
  India VIX up by 0.5% at 16.30

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty Intraday n Closing SL 16900
  Bank Nifty Intraday n Closing SL 38900

For existing short positions:

• Nifty Intraday n Closing SL 17250
  Bank Nifty Intraday n Closing SL 39600

For new positions in Nifty:

• Buy Nifty in 16750-16850 range:
  SL 16650 Tgt 16925, 16975, 17050, 17100, 17150

  Aggressive Traders Buy Nifty:
  Strict SL 16900 Tgt 17050, 17100, 17150, 17200, 17225, 17325

  Aggressive Traders Sell Nifty in 17150-17225 range:
  Strict SL 17325 Tgt 17100, 17050, 17000, 16975, 16925

For new positions in Nifty Bank:

• Buy Bank Nifty 38450-38625 range:
  SL 38375 Tgt 38725, 38800, 38925, 39050, 39125

  Aggressive Traders Buy Bank Nifty:
  Strict SL 38900 Tgt 39400, 39550, 39675, 39750, 39825, 39900

  Sell Bank Nifty in 39750-39900 range:
  SL 40000 Tgt 39575, 39450, 39300, 39150, 39050, 38950

F&O ban update

• Already In Ban: IB Housing Fin, GNFC
  New In Ban: Nil
  Out Of Ban: Nil

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.